First Wind, a renewable energy company headquartered in Boston, commended President Obama for the clean energy vision outlined in his State of the Union address and called for policies that will level the playing field in the competition between the renewable energy industry and the fossil fuel industry.
Federal tax credits for wind energy were recently extended by Congress. And when that happened, First Wind announced that it was poised to increase its operating portfolio of wind projects by 50 percent in the coming years.
In a statement issued Wednesday, First Wind chief executive Paul Gaynor said: “Although the recent extension of the tax credits was key for the industry, we must now look toward more stable policy for wind energy to avoid the artificial boom and bust cycle for wind project development and construction that occurs as the tax credits expire. To realize the clean energy vision outlined in the State of the Union, we need to put in place a predictable policy that allows access to capital for renewable energy in the same manner oil, gas, and coal have operated for decades.”
First Wind has wind projects in the Northeast, the West, and Hawaii, with combined capacity of 980 megawatts – enough to power almost 300,000 homes each year.