The State of Oregon allows certain renewable energy project investments within the State of Oregon to qualify for the BETC. The Neal Hot Springs project, recently constructed near Vale, Oregon, applied for and received formal approval from the State of Oregon for the maximum $10 million tax credit.
Based on the statutes' guidelines, the company was able to monetize (sell) the tax credit for the sum of $7.4 million, and after paying certain transaction expenses, the project received approximately $7.0 million. In cooperation with the US Department of Energy, the project loan guarantor, 50% of the amount received will be used to fund additional project reserves, while the balance will be available for distribution to the project owners.
Read More......
