Hudson River project gets tax credits for additional generation


The Federal Energy Regulatory Commission (FERC) has certified additional electricity generation at the Hudson River hydroelectric project as being renewable energy eligible to receive tax credits.Erie Boulevard Hydropower LP, the licensee for the project, stated in its application filed on September 29 that replacement and installation of new turbine generators would increase electricity generation by 10.94%.The increase in generation comes from upgrades at the Sherman Land development which will increase its capacity from 28.8 to 37.2 MW boosting the total capacity for the project from 73.2 to 81.6 MW. The project consists of one other development- the Spier Falls development which generates 44.4 MW.Under the Energy Policy Act 2005, additional electricity generated from an existing hydropower project is eligible to receive renewable energy tax credits, also known as production tax credits (PTC), if such addition is achieved by improving efficiency or by adding capacity. However, such increment has to be first approved by FERC.