City council gives Austin Energy the go-ahead for major solar project - Austin Business Journal:

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Several U.S. companies, such as Massachusetts-based and Maryland-based Sun Edison LLC, are capable of producing enough panels to supplythe project, said Crai g Overmiller, one of the founders of “Thew city of Austin and the City Council reallyh need to rethink” the Webberville project, said who is not a part of the coalition urgintg the city to modify the Gemini “I think they rushed into it.” Austin Energy wouldc pay $250 million, $10 million a year for 25 years, for the electricit the solar array woulsd generate.
Once it’s operating, Gemini Solar woule be eligible for anestimated $60 million about one-third the project’s estimated cost — through the federal investment tax credit program. Earlierr this week, Austin Energy general manager Roger Duncan issued a memorandumn indicating that Gemini Solar hasagreed “that the valuer of the [investment tax credit] benefitw will be shared with Austib Energy.
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