The 2013 agreement, which provided for the supply of Vestas wind turbines, supported and will continue to support EGP-NA’s recent successful growth in the United States.
The extension of this agreement confirms and expands EGP’s commitment to keep growing in the United States wind market. The capacity yet to be developed within the 2013 agreement, together with the current extension, will enable the Company to qualify up to approximately 1 GW of future wind capacity in the United States for Federal Production Tax Credits (PTCs).
EGP-NA’s ability to qualify for these federal tax incentives comes as a result of its continued substantial investment in the United States and recent action by the US Congress to extend the PTC as part of the Tax Increase Prevention Act of 2014, signed into law last month.
