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PTC for wind energy

2 Sep 2012
The clock may still be ticking for Congress to extend the federal production tax credit (PTC) for wind energy. But the economic fallout is already being felt by U.S. makers of turbines, blades and other wind power components as many stare at a blank slate of new orders.

This week, Siemens Wind Power, a subsidiary of German-based Siemens AG, said it would lay off 615 employees from its U.S. manufacturing facilities in Kansas, Iowa and Florida. "Unfortunately, this business decision was necessary to respond to market conditions that are beyond our control and affecting the entire U.S. wind power industry," the company said in a statement.

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