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St. Lawrence Hydro Will Receive Production Tax CreditsSubmitted by Rupak Thapaliya on Fri, 2008-11-07 15:21
St Lawrence Hydroelectric project located on the Merrimack River in Lawrence, MA will now receive tax credits for electricity generation because of its recent efficiency upgrades.In its application filed on Sep 29, Essex Company, the operator of the project stated that the existing wooden flashboards on the crest of the project's dam would be replaced with a modem inflatable crest gate system thereby increasing efficiency of the system and generating more electricity. This upgrade resulted in 6.7% increase in generation. In an order issued today FERC certified the efficiency upgrade, which makes the project eligible for production tax credits (PTC) under Section 1301 of the Energy Policy Act of 2005.The Lawrence Hydroelectric Project is a 16.8 MW facility that utilizes the Essex dam also known as "Great Stone Dam," constructed in 1848. Last year, FERC had approved the installation of the crest gate system through an license amendment order.