This might explain the delay in the 45kt Vidalia expansion FID announcement. If SYR can secure an advanced tax credit of +$100m it will go a long way in paying for the balance SYR needs over and above the DOE $350m loan.
Biden to Unveil Winners of Some $2 Billion in Green Tax Credits
- Topsoe will also to get some of the US clean energy awards
- Danish firm expected to use credits for North Carolina plant
Renewable energy company Siemens Energy Inc. and Danish electrolyzer manufacturer Topsoe A/S are among dozens of recipients of around $2 billion in clean energy tax credits set to be announced Friday by the Biden administration. The awards are being rolled out by the Department of Energy, according to people familiar with the matter, who asked not be identified because the details haven’t yet been made public. They’re part of a tax credit program for clean energy manufacturers that got a $10 billion boost through President Joe Biden’s signature climate law, the Inflation Reduction Act.
Topsoe is expected to receive an award of as much as $136 million through the program for use in the construction of a $400 million green hydrogen electrolyzer plant in Chesterfield, Virginia, one of the people said. Energy Secretary Jennifer Granholm is poised to roll out the awards on alongside North Carolina Governor Roy Cooper when they both visit a Siemens Energy facility in Raleigh, North Carolina. The company is in the midst of expanding a plant in Charlotte, North Carolina, to make large power transformers.
The Energy Department didn’t immediately respond to a request for comment. The department announced last month it was awarding a total of $4 billion in credits for over 100 projects, but didn’t disclose the recipients for tax privacy reasons. The companies set to be highlighted in Friday’s announcement agreed to being publicly named.
https://www.bloomberg.com/news/articles/2024-04-18/siemens-energy-among-recipients-of-2-billion-green-tax-credits?srnd=homepage-asia&sref=Vidv4Q0k
This might explain the delay in the 45kt Vidalia expansion FID...
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52.0¢ |
Change
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Mkt cap ! $452.0M | |||
| Open | High | Low | Value | Volume |
| 53.5¢ | 53.5¢ | 51.8¢ | $1.411M | 2.681M |
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| No. | Vol. | Price($) |
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| 1 | 18 | 57.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 18914 | 5 |
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| Last trade - 15.59pm 03/05/2024 (20 minute delay) ? |
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Last
52.0¢ |
Change
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| Open | High | Low | Volume | ||
| 53.5¢ | 53.5¢ | 51.8¢ | 877504 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
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