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United States : CAPROCK WIND FARM owner plans solar plant starting in 2016.

The owner of San Jon s Caprock Wind Farm intends to add solar generating units to the wind energy complex, beginning some time in 2016.

A representative of Infigen, the Australian firm that owns the Caprock Wind Farm, and a bond attorney, on December 8, 2014, asked for authorization from the Quay County Commission to seek industrial revenue bonds for the project. The commission granted the authorization unanimously.

The industrial revenue bonds exempt a firm from property taxes for up to 20 years. During the bond period, the firm leases the land from the county, then buys it for a small amount at the end of the period.

Daniel Alsup, the bond attorney, while the county issues the bonds, it does not give any funds. The bonds are financed by investors, and repayment is up to Infigen, which gets a tax break during construction.

2014 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).

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Publication:Mena Report
Date:Dec 12, 2014
Words:156
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