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Iowa 110 MW on hold without PTC extension
1 February 2004
The only thing standing in the way of Midwest Renewable Energy Corporation's latest wind project -- 110 MW planned for a site north of Iowa City -- is a Congressional extension of wind's federal production tax credit (PTC). The project already has an interconnection agreement and land leases in place, but without the PTC extension, says Steve Dryden, it is difficult for Midwest Renewable to attract a buyer for the output of the Top of Iowa II wind farm. Although the project was originally designed for 67 NEG Micon 1.65 MW turbines, Dryden did not say what turbine manufacturer he would turn to after news broke of the intended merger of Vestas with NEG Micon (Windpower Monthly, January 2004). Midwest Renewable completed its first Top of Iowa project in 2002, using 89 NEG Micon 900 kW turbines. The developer is also building an ethanol plant that will create about 40 million gallons of ethanol from about 14 million bushels of corn each year. Whitney & Co, a private equity firm from Connecticut, is joining Midwest to build both the ethanol plant and the wind farm. Both are due for completion this year.
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