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US to review more inbound investments
Congress passed legislation in early August that will subject more in-bound US investments to review by CFIUS. The President is expected to sign the law.
Project Finance NewsWire
August 2018
IN THIS ISSUE
New trends
The session this year was a wide-ranging discussion about new trends in the market with the investment banker or banker equivalent of a panel of journalists on the Sunday morning talk shows.
The hunt for PPAs
Three prominent wind developers and the head of electricity procurement for a utility talked about lessons from recent utility procurements, corporate PPAs and hedges.
What next after Ontario cancels power contracts?
Recent headlines have captured the decision of the newly elected Ontario provincial government to cancel more than 700 renewable energy contracts in the province.
Turkey eyes offshore wind
The Turkish Ministry of Energy launched a tender for the country’s first offshore wind power plant on June 21. The deadline for bid submissions is October 23.
Depreciation bonus questions answered
Depreciation bonus regulations that the IRS issued on August 3 answer a number of questions that have been coming up this year in M&A and tax equity transactions.
Suffering from lack of transmission
Four panelists talked about the growing problems in this area at the 29th annual global energy and finance conference in June.
Blockchain comes into view
Four blockchain pioneers talked at the 29th annual global energy and finance conference in June about what blockchain means for the power sector.
Solar construction-start guidelines
Solar developers got long-awaited guidance from the Internal Revenue Service today about what must be done on future projects to be considered under construction in time to qualify for federal tax credits.
The cloud over future PJM capacity auctions
PJM proposed and the Federal Energy Regulatory Commission rejected a plan to change the way PJM runs auctions to buy capacity.
Energy storage gains ground
Four prime movers in the push to install batteries talked about where installation of batteries already makes economic sense and what is driving current adoption.
More new trends
Four industry veterans talked about new trends in financing renewable energy projects at the 15th annual ACORE/Euromoney REFF-Wall Street conference in New York.
Opportunity: Electric vehicle charging infrastructure
Various car manufacturers have announced dramatic increases in electric vehicle production in response to domestic and international pressure to electrify the transportation sector.
California update
Two bills have been proposed in the California legislature that could affect renewable energy companies in California: SB 100 in the state senate and AB 813 in the state assembly.
Environmental update
The Trump administration announced in August to roll back Obama-era automobile emissions and fuel efficiency standards and revoke the long-standing authority of states to impose stricter standards.
IN OTHER NEWS
Tax basis issues: Alta Wind
Tax basis issues remain largely unresolved after a US appeals court decision in late July in a closely-watched case involving Alta Wind.
Physical presence: Wayfair
A physical presence is no longer required for companies making sales to have to collect sales taxes, the US Supreme Court said in late June 2018.
US import tariffs remain a challenge
The US started collecting a 25% tariff on July 6 on a list of Chinese goods that accounted for $34 billion in imports last year.
Carbon taxes inch ahead
Carbon taxes remain in the spotlight, although only dimly so.
Cryptocurrencies and taxes
The IRS launched a new taxpayer compliance campaign aimed at cryptocurrencies on July 2.
US wind capacity
US installed wind capacity was 90,004 megawatts at the end of June.
US solar capacity
US installed solar capacity was 55,900 megawatts at the end of the first quarter 2018.
Wind construction start rules criticized
The construction-start rules for wind farms are under attack from the coal lobby.
Solar panel prices
Solar panel prices are expected to fall 34% by year end to a global average of 24.4¢ a watt, according to Bloomberg New Energy Finance.
California CCA data
Community choice aggregators in California bought 57.1% more electricity from wholesale suppliers in the first quarter of 2018 compared to the same period in 2017.
FERC modifies MLP tax policies
Gas pipelines got a break from the Federal Energy Regulatory Commission.
Electric coops and tax reform
Electric cooperatives are concerned that they will lose their federal income tax exemptions because of the tax reforms that were enacted last December.
Golan: Individuals successfully claim ITC
Solar tax benefits were allowed to two individuals on three rooftop solar installations after the IRS made a mistake.
American Indians and income taxes
American Indians are not subject to US income taxes on gravel mined on the reservation, a federal district court said in late July.
