Congresswoman Lee Announces Clean Energy Tax Credits to Alameda Firm
Congresswoman Barbara Lee announced the U.S. Departments of Energy and Treasury awarded Alameda’s Natel Energy over $2 million in clean energy tax credits to expand their capacity for clean energy manufacturing.
“I am very pleased that Natel Energy Inc. has been selected for these important tax credits,” said Congresswoman Lee. “This investment will leverage the Bay Area’s clean energy expertise to expand green technology and bolster job creation in the region—benefitting the environment, the community, and the economy.”
Natel Energy Inc. makes low-head, high-flow hydroelectric turbines for new, distributed, utility-scale hydropower projects, as well as for retrofitting dams and irrigation canals. With more than $2 million in 48C Advanced Energy Manufacturing Tax Credits, Natel is equipping a manufacturing facility on the former Alameda Naval Air Station. The facility will produce 200 turbines annually—roughly 90 megawatts—to enable environmentally friendly hydropower development worldwide.
This award is part of $150 million in clean energy tax credits to build U.S. capabilities in clean energy manufacturing. The credits will go towards investments in manufacturing facilities by 12 businesses.
The 48C Advanced Energy Manufacturing Tax Credit program was initiated under the American Recovery and Reinvestment Act of 2009 to support investments in projects that establish, expand or re-equip clean energy manufacturing facilities. Funded at $2.3 billion, a 30% investment tax credit was made available to domestic clean energy manufacturing facilities. Through the 48C program administered by the U.S. Departments of Energy and the Treasury, these awards will help create thousands of jobs across the country and increase U.S. competitiveness in the global clean energy market.