Project Finance NewsWire

August 2013

IN THIS ISSUE

Powering Africa
It is a good time to sponsor an energy project in sub-Saharan Africa.

Going Merchant
The last time merchant power plants could be financed and developers were able to raise 100% of the project cost in the debt markets was shortly before Enron collapsed...

Disruptive Business Models
Fuel cells, rooftop solar, small CHP projects, microgrids and other forms of distributed generation threaten to undermine the traditional US utility model...

California Dreaming
What will the California power markets look like in the next 10 years? Will there be incentives for new gas plants? What is the future for a separate capacity market? How much need will there be f...

CFIUS and In-Bound US Investments
Many foreign investors making investments in US companies or projects are unaware that the federal government has sometimes set aside such investments on national security grounds, including a rec...

Energy Storage Update
The nascent electricity storage industry is starting to make progress both in California and at the federal level...

Environmental update
The confirmation of Gina McCarthy as head of the US Environmental Protection Agency in July is a sign the Obama administration will put greater emphasis on climate change issues...


IN OTHER NEWS

The Section 1603 Program
The Section 1603 Program is attracting more litigation. Three new lawsuits have been filed in the last two months. Eight suits are now pending...

Wind Farms
Wind farms accounted for 43% of new generating capacity built in the United States in 2012, but 2013 is expected to be a slow year while developers gear back up, according to a new report by Ryan ...

Arizona
Arizona is the latest battleground for rooftop solar companies and utilities.

Fixed-Price Purchase Options
Fixed-price purchase options may receive more attention after a decision by the US Tax Court in a case involving LILOs and SILOs...

Another Leveraged Partnership
Another leveraged partnership has come under attack. Such transactions are sometimes used by sellers of assets to defer a tax on gain...

Solar rooftop systems
Solar rooftop systems owned by solar companies and leased to homeowners are not “immovable” property...

Argentina
Argentina is replacing a list of countries considered tax havens with a new list of “cooperative jurisdictions” that share tax information with the Argentine tax authorities.

Curtailments
Curtailments may not prevent a power plant from being considered in service for tax purposes...

Puerto Rican solar
A Puerto Rican solar project will qualify for an investment tax credit and accelerated depreciation in the United States, the IRS said...

Rescissions
Rescissions will not be addressed any time soon, the IRS said...

Minor memos
Lease accounting in the United States is still on track to change...