Your Tax Dollars at Work… Canadian Firm Will Receive up to $50 Million Stimulus for Nevada Solar Plant That Employs Two People

It’s an Obama world.
Canadian solar firm gets $50 million in Stimulus cash.

(eBridge)

A Canadian firm will receive up to $50 million in Obama Stimulus cash for a Nevada solar plant that hires two people. And, the energy produced at the plant costs three times as much as energy from natural gas.
The Nevada Journal reported:

The company behind the recently opened Silver State North solar plant is eligible to receive up to $50 million in federal tax credits under the Obama administration’s “stimulus” legislation, even though the plant created only two full-time jobs.

According to a Department of Interior memo, Enbridge Energy Partners, a Canadian-based company with extensive energy holdings in the U.S. that purchased the Southern Nevada plant from Arizona-based First Solar, “can apply for payments of up to 30 percent of the eligible costs of the project — approximately $50 million.”

The payments are available through the 1603 Program, a special exemption in the Treasury Department created by the American Reinvestment and Recovery Act to “reimburse eligible applicants for a portion of the cost of installing specified energy property used in a trade or business or for the production of income.”

The program states that the “1603 payment is made after the energy property is placed in service; a 1603 payment is not made prior to or during construction of the energy property.”

Silver State North began service on Monday, May 7. Larry Springer, a community relations manager at Enbridge, confirmed to Nevada Journal the company intends to file a 1603 application for reimbursement.

Comments

As a privately owned web site, we reserve the right to edit or remove comments that contain spam, advertising, vulgarity, threats of violence, racism, anti-Semitism, or personal/abusive attacks on other users. The same applies to trolling, the use of multiple aliases, or just generally being a jerk. Enforcement of this policy is at the sole discretion of the site administrators and repeat offenders may be blocked or permanently banned without warning. Guest posting is disabled for security reasons.