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The Government of India unveiled a transport stimuluspackage on 3 February 2009 to provide central funding to purchase buses for urban transport systems. Outside of New Delhi, ten other major Indian cities also have aggressive natural gas vehicle conversion programs. India imports 70% of its diesel and gasoline.
Simultaneously, the researchers will ascertain which chemical catalysts and operating parameters should be used to optimize the conversion of the fatty acids into the desired fuels. The $2 million grant is part of the federal stimuluspackage and comes from NSF’s Emerging Frontiers in Research and Innovation program.
After all, if the US StimulusPackage program could do "Cash for Clunkers," then why not "Cash for Conversions!". with lots of conversion opportunities definitely abounding in Nogales.
Last year people were able to get unleveraged tax equity financing to monetize the production tax credits at yields to the tax investor of 6-7%; this year tax equity investors are seeking yields ranging from 10-15% for leveraged tax equity transactions utilizing the investment tax credit that is now available under the Stimulus Bill.
Biofuel projects are going to have trouble getting financing from Wall Street this year because all of them have questions about the long term pricing of petroleum; most of them have concerns about the pricing stability of their feedstocks; and many of the cellulosic projects have concerns about the conversion technologies. Billion vs. $28.3
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