By PETER HUSSMANN
TPI Composites applauded President Barack Obama's issuance of more than $9 million in tax credits to to allow the Scottsdale, Ariz.-based company to expand its Newton, Iowa wind turbine blade facility, as well as develop a new plant in Grand Island, Neb. to produce its next generation of wind blades.
On Friday, President Obama announced the award of $2.3 billion in Recovery Act Advanced Energy Manufacturing Tax Credits for clean energy manufacturing projects across the United States. One hundred eighty three projects in 43 states were awarded the credits designed to create thousands of new clean energy jobs.
TPI Composites received $3.9 million in tax credits to expand its wind turbine blade manufacturing plant in Newton to meet "anticipated greater demand for composite wind turbine blades from its customer, General Electric, and General Electric's wind farm customers."
TPI officials said in a statement issued late Friday that no timeline has yet been set on when the Newton plant expansion might be undertaken. Provisions of the tax credit program, however, require projects selected to be in service by 2014.
"TPI's tax credit award will help the company advance its plans to expand operations and create additional manufacturing jobs in the U.S.," the company statement said. "The company looks forward to announcing specific project plans in the future."
TPI Composites also receive a $5.1 million award to construct a new manufacturing facility in Grand Island, Neb. The new plant will, expected to create 200 new jobs, is being designed to produce TPI's "next generation wind turbine blades made by combining reinforcing fibers from glass or carbon, resin, foam and balsa wood."
TPI lauded the president's action in helping stimulate the green energy manufacturing sector.
"TPI Composites applauds President Obama for his leadership in stewarding policies like the Clean Energy Manufacturing Tax Credit, the Department of Energy Loan Guarantee Program and a strong Federal Renewable Electricity Standard," the company statement said. "The company shares his view that these programs will help create U.S. jobs, revitalize the nation's industrial and manufacturing base and allow our country to be less dependent on foreign sources of energy. The President's leadership on these matters will help create a large renewable energy market in the U.S."
TPI was not the only company with facilities in Iowa receiving the tax credit awards.
American Railcar Industries, headquartered in Fort Dodge, received $5.3 million to re-equip a railcar manufacturing facility in Fort Dodge for the production of 500 structural steel towers per year for large-scale commercial wind turbines.
Siemens Energy, headquartered in Orlando, Fla., received $3.4 million to build a new manufacturing facility in Fort Madison for the assembly of wind turbine nacelles and hubs for Siemens wind turbines.
Guardian Industries in Dewitt received $900,000 to re-equip an existing manufacturing facility to produce bent solar mirrors. The project will modify and enhance the company's existing mirror production line.