EDF Renewable Energy Strongly Positioned to Take Advantage of the Tax Incentives in 2017 – 2020
-EDF Renewable Energy (EDF RE) has signed turbine supply agreements to enable the construction of over 3 gigawatts (GW) of new wind projects in support of its U.S. wind energy ambitions for 2017-2020. In addition, the Company is poised to qualify approximately 500 megawatts (MW) in its strategic repowering program.Already one of the largest renewable energy developers in North America, the recent agreements with Vestas, GE, and Siemens position the Company to build and put into service wind projects in accordance with the guidelines of the primary federal incentive – the Production Tax Credit (PTC).
Tristan Grimbert, President & CEO for EDF EN North America, commented, “The North American market is very strong and our development plan for 2017-2020 expects to capitalize on the positive momentum to support jobs in the wind sector and incremental revenues to farmers that host our projects and provide cost-competitive energy to consumers and businesses.” According to the 2017 US Energy and Employment Report, the U.S. wind workforce grew by 32% since 2015 to reach an all-time record of 102,000 jobs. Wind energy not only offers jobs but also provides rural America a weather-resistant cash crop that is cost-competitive with all other sources of electricity in many areas of the country, saving consumers money on their electric bills and hedging against rising prices for fuel.
Grimbert adds, “This strong growth in wind energy relies in part on two trends. First, Utilities embrace renewable energy sources as a major part of the future energy mix. And secondly, America’s corporate sector is demonstrating leadership in the drive for a low-carbon economy through the purchase and investment in affordable clean energy.” Companies like Google, Procter & Gamble, Salesforce, Microsoft and many more have announced commitments to source 100% of their energy from renewable sources.