No wind manufacturing plant if PTC not renewed, MHI says

Mitsubishi Heavy Industries (MHI) said it will not build a planned $100 million nacelle manufacturing plant in Arkansas if the U.S. government does not renew the production tax credit before it expires at the end of 2012.

According to Recharge news, the wind industry expects turbine sales to plummet if the PTC is not renewed. MHI said the possible lack of a turbine market will keep the company from operating the facility.

“Right now, the market is not so good. We have a site but cannot operate it,” Yoshinori Ueda, assistant general manager of MHI’s wind turbine business was quoted as saying in the article.

MHI has a 10 percent share of the U.S. market and several projects in the works, including a 49 MW contract with AES (NYSE: AES) in California and a deal to supply 84 of its 2.4 MW turbines to a Duke Energy (NYSE: DUK) wind farm in Texas.

Vestas also reportedly announced it would cut jobs in the U.S. if the credit is not renewed.

Read more financial news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...