Siemens Says Cape Wind Farm Starts Work, Meeting Deadline
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Cape Wind, the proposed $2.6 billion wind farm off the coast of Massachusetts criticized by local residents including the Kennedy family, will qualify for a key federal tax credit that expires at the end of the year, according to its turbine supplier Siemens AG.
Construction of some components has already begun, meeting the requirements for the investment tax credit, said Markus Tacke, chief executive officer of Siemens Energy’s wind power division.