Sunday, October 20, 2013

Banks and U.S. Access to Financing for Wind Power

Wind Power in Poor Regions May Increase U.S. Access to Financing
Oct 16, 2013 - Wind farms may become more attractive to investors because of new guidance that increases the number of banks that may participate in tax-equity financing, according to an industry group.

The U.S. Treasury’s Office of the Comptroller of the Currency now permits national banks and federal savings associations to make tax-equity investments in wind farms that are in low-income regions and provide a public benefit, according to the American Wind Energy Association.

Federal bank regulators last month approved guidelines for banks and developers to back wind farms under Public Welfare Investment authority, a policy that’s also used to finance low-income housing. That opens the door to more than 50 banks, up from about a dozen that currently participate in the tax-equity market, said Paul Holshouser, finance policy manager for the Washington-based trade group. read more>>>

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