The already productive collaboration between Enel Green Power and the United States has been strengthened with the extension of a framework agreement between EGP and Danish wind turbine manufacturer Vestas for the development of wind farms in the United States. The agreement, which was struck in 2013, provides for the supply of Vestas' wind turbines, promoting the continued growth of Enel Green Power in North America.
The wind capacity set to be developed according to the original agreement, alongside that included in the recent extension, will enable EGP to qualify for Federal Production Tax Credits (PTC) for future wind projects of a combined total capacity of around one gigawatt . The Enel Group business has been given the opportunity to compete for these federal incentives thanks to its ongoing investment in the United States and the recent decision of the United States Congress to extend the PTC as part of the Tax Increase Prevention Act of 2014, which became law last month.
The extension of the agreement is a further demonstration of the subsidiary's commitment to North America: it has a diversified presence through technology ranging from hydropower to solar power, geothermal energy and wind power. EGP has tripled its installed capacity in the latter category over the last four years.
Enel Green Power has a total installed capacity of over 2GW in North America, which is distributed over more than 90 facilities in 21 US states and two Canadian provinces. Of the four technologies in operation, wind power has the highest capacity, although it is not the only lever of development. The Cove Fort, Stillwater and Salt Wells geothermal facilities use medium-enthalpy binary cycle technology and are among the most advanced in the world. The Cove Fort plant won Utah's Energy Innovator of the Year award for its contribution to the sector's development, attained through the high technological standards of its geothermal wells.