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Baucus to Celebrate Rim Rock Project Opening Ceremony

Senator Highlights Montana Jobs, Continues Fight for Tax Credits to Support New Energy Jobs

Posted: Wednesday, September 12, 2012

(Washington, D.C.) - Montana's senior U.S. Senator Max Baucus will speak at the Rim Rock Project Opening Ceremony on Friday, September 14th northwest of Shelby. As Chairman of the Senate's tax-writing committee, Baucus is currently fighting to extend the Production Tax Credit which was instrumental in moving the project forward.

"Hundreds of Montanans have jobs thanks to this project and I'm proud to help celebrate this important milestone for Montana.  We need all hands on deck to support Montana energy jobs and the Rim Rock project is evidence that teamwork can help lead our economy forward," said Baucus.

 "NaturEner is thrilled be building our business in Montana.  Thanks to Max's work on the Production Tax Credit, our third Montana-based project is off and running and we are making good progress toward completion of Rim Rock this year," said NaturEner CEO Jose Maria Sanchez Seara.

Baucus in Shelby

Who: Senator Baucus, Senator Jon Tester's office, Governor Brian Schweitzer, community leaders and NaturEner CEO Jose Maria Sanchez Seara

What: Opening Ceremony for the 189 megawatt (MW) Rim Rock Project

When:  September 14, 2012 at NOON

Where:  Northwest of Shelby off of Berger Road. Shuttle buses will be available at the Shelby Comfort Inn parking lot. The first bus will leave at 10:45 AM and the second bus will depart at 11AM.

For directions from Shelby, click HERE.

For directions from Cut Bank, click HERE.

Additional Information:

NaturEner owns and operates the combined 210 MW Glacier Wind projects, located near Ethridge, Montana. The company expects to achieve commercial operation on the Rim Rock project by the end of 2012 and has worked closely with Montanans to accommodate hawks and eagles near the site.

In January NaturEner secured a construction loan and the promise of a $285 million tax-equity capital contribution from San Diego Gas & Electric Company (SDG&E) once the project has reached commercial operation.  'Tax-equity' contributions are made possible because of the Production Tax Credit Baucus reauthorized in 2009.  Through such arrangements, investors, in this case SDG&E, provide capital contributions in return for collecting a tax credit based on total electricity produced by the project.

The Production Tax Credit expires at the end of 2012 and Baucus is currently fighting to extend it.

Baucus also brought NaturEner's Chief Development Officer for North America to Montana in 2010 to participate in panels with other energy leaders at Baucus' 5th Economic Development Summit in Butte.

 

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