Floating Power Plant Receives Tax Credits

Floating Power Plant aims to deploy an offshore floating wind and wave platform off the coast of the Canary Islands and has just been approved for €17,65m by the spanish tax authorities.

  Floating Power Plant (FPP) has just secured €17,65m in R&D tax credits for an offshore floating wind and wave project at PLOCAN off the coast of the Canary Islands. This will help finance the demonstrator project currently in development. The initial three years of anticipated expenses associated with FPP’s demonstrator project have been approved by the Spanish Tax Agency as qualifying for the country’s R&D tax credit programme. Chris McConville, FPP General Manager, says: “This is a major milestone in the realisation... ... More: Official Press Release FPP

Keywords:

FPP, Floating Power Plant, tax credit, Gran Canaria, Canary Islands, Spain, authority, R&D, demonstrator

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