IRS Approves 610 Clean Renewable Energy Bond Applications

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http://www.newrules.org/de/archives/000145.html

Last week, the Internal Revenue Service (IRS) announced that 610 projects have been given the authority to issue Clean Renewable Energy Bonds (CREBs) to help finance renewable energy development across the country. State and local governments and municipal and cooperative utilities were eligible to apply.

Rules prohibiting the IRS from disclosing taxpayer specific information prevents the IRS from providing a listing the successful projects. Applicants are currently being notified about the results.

General information regarding the allocations of the CREBs volume cap is as follows: Projects for the governmental borrowers will receive allocations in 24 states and projects for the cooperative borrowers will receive allocations in 22 states. The allocations for the governmental borrowers range from $23,000 to about $3.2 million and for the cooperatives ranged from $120,548 to $31 million.

Of the approved projects for the governmental borrowers, 401 are for solar facilities, 99 for wind facilities, 23 for landfill gas facilities, eight for hydropower facilities and one for an open loop biomass facility. Of the projects approved for the cooperatives, 33 are for solar facilities, 13 for wind facilities, 13 for landfill gas facilities, 12 for open-loop biomass facilities, six for hydropower facilities and one for a refined coal production facility.

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