Doubts About State-Mandated Power Contracts
Two recent federal district court decisions, one in Maryland and one in New Jersey, found that state programs directing local utilities to sign long-term contracts with independent power producers were uncon...
Yield Cos Compared
Use of the phrase “yield co” to describe three recent share flotations by NRG Yield, TransAlta Renewables and Pattern Energy Group, Inc. masks very different business arrangements...
US Tax Changes Start to Take Shape
Accelerated depreciation would be eliminated under a draft tax bill the Senate Finance Committee released in November. The bill is one of three drafts that Senator Max Baucus (D...
Agreements to Negotiate in Good Faith May Mean More Than You Think
Term sheets, letters of intent and other preliminary agreements are often useful in complex negotiations because they allow negotiating parties to focus first on the major deal issues before getting tripped...
Ethanol Loses Steam, But Only in Part
A proposal by the US Environmental Protection Agency in November to reduce the amount of renewable fuels that must be blended into US transportation fuels in 2014 is a blow to corn ethanol produce...
South Africa: Lessons From Projects Financed To Date
South Africa has gone through two rounds of procurements for renewable energy projects...
Power Africa: Market Reactions to the Obama Initiative
Six Africa veterans talked during a Chadbourne webinar in October about market reaction to the Power Africa initiative that the US government is making to help Africa double access to electricity ...
But I'm Canadian! And Other CFIUS Dilemmas | Norton Rose Fulbright - December, 2013
A little known committee within the US Treasury Department could have a big impact on deals involving a foreign acquisition of a US business...
Energy Storage On The Cusp
The storage industry is progressing, slowly but surely. In the United States, policy initiatives are beginning to shape the market...
China Moves To Ramp Up Shale Gas Production
The National Energy Administration published a set of guidelines for the shale gas industry in late October...
Environmental update
New standards have been released for phase I environmental site assessments that must be done on project sites as a condition to closing on financing...
Construction start issues
Construction start issues continue to take up substantial IRS time...
Treasury Cash Grants
Treasury cash grants on renewable energy projects remain a hotbed of activity.
Utility Rebates
Utility rebates to customers to induce them to install rooftop solar can be deducted when paid by the utilities, the IRS ruled privately, and are not advance payments for renewable energy credits,...
Residential Solar Credits
Residential solar credits will suffer a haircut if the homeowner engages in net metering, the IRS said...
Tax Equity
Tax equity investors may find low-income housing deals more attractive than renewable energy after a decision by an emerging issues task force of the Financial Accounting Standards Board in Novemb...
Purchase Options
Purchase options could become an Achilles heel in some transactions...
Liabilities Assumed by a Purchaser
Liabilities assumed by the purchaser of three nuclear power plants to decommission the plants cannot be added to the cost basis in the plants, a US appeals court confirmed...
Arizona
Arizona settled only half the issues in a dispute between solar rooftop companies and Arizona Public Service, and then only temporarily.
Foreign Corrupt Practices Act
Foreign corrupt practices act investigations are multiplying.
Investment Tax Credits
Investment tax credits were awarded to two advanced coal projects in October. The credits are 30% of the eligible project cost...
A Busted “MIDCO” Transaction
A busted “MIDCO” transaction shows both the perils of such deals and the reach of “transferee liability” for taxes...
California
California is working on a ruling to address when out-of-state members in limited liability companies doing business in California must file state income tax returns.
The Mauritius-India
The Mauritius-India tax treaty is expected to be amended before April 2016 to make it harder for companies making inbound investments into India to take advantage of the treaty...
CFIUS
CFIUS has the last say — so far...
A Disguised Sale and Lack of Economic Substance
A disguised sale and lack of economic substance prevented losses from being claimed on utility receivables. BDO Siedman marketed “tax solutions” from 2000 through 2003...
Economic substance
Economic substance was at issue in another case, only this time the taxpayer won.
REIT Conversions
REIT conversions may move forward again after the IRS sent an email in November to say that it will resume ruling on what qualifies as “real property” for REIT purposes...
Biodiesel blenders
Biodiesel blenders do not have to report refunds of excess excise tax credits as income, the IRS concluded in an internal memo in October.
SWAPS
SWAPS can trigger income when a counterparty assigns his position to someone else...
Minor memos
There were 43 utility-scale solar projects in operation in the United States at the end of the second quarter 2013...