Hydropower

Ocean Energy Qualifies for Canadian ‘Flow-Through’ Tax Benefits

Vancouver, Canada [RenewableEnergyAccess.com] Finavera Renewables Inc. would like to acknowledge the Government of Canada for extending flow-through tax credits to the ocean renewable energy sector. In its 2007 Budget introduced March 19th, the Canadian government made ocean energy eligible for the Canadian Renewable and Conservation Expense and the Accelerated Capital Cost Allowance. The new tax credits will significantly incentivize capital to move into the ocean energy sector. The ‘flow-through’ tax credit (which is currently available for mineral exploration and qualifying renewable energy development and test projects) now encourages investment in ocean energy resource assessment as well as for certain capital expenditures on equipment that generates electricity from ocean energy, through the offering of tax incentives to investors.