Project Finance NewsWire

June 2013

IN THIS ISSUE

The Rush To Start Construction
A lot of talk at recent renewable energy conferences in the United States is about how much of a rush there will be to start construction of new projects by year end...

How REITS Are Already Investing In Renewables
Renewable energy companies are looking at renewable energy investment trusts or REITs, among other vehicles, as ways to raise capital at lower cost.  REITs must own largely real property...

Accelerating The (Commercial) PACE
PACE (or property assessed clean energy) financing is still in its infancy, but could be a huge growth market.  It is a form of financing for energy efficiency improvements to buildings...

Sunny Days Ahead for Solar in Turkey
Applications for the Turkey’s first-ever solar energy licenses to build up to 600 megawatts of solar projects in 27 regions previously announced by the Ministry of Energy are due at the Energy Mar...

The CHP Revival
Low natural gas prices and the growing interest in distributed generation are causing power plant developers to refocus on combined heat and power or “CHP” projects...

Power Contracts with the US Military
The US Army has embarked on a program to enter into $7 billion worth of long-term contracts to buy renewable energy for US Army bases.  The other service branches have their own similar programs...

More US Gas Exports Approved: What Next?
The US Department of Energy signaled that it would proceed cautiously before approving any more applications to export US-produced liquefied natural gas after granting only the second export licen...

Environmental update
California sold 14,522,048 2013 vintage allowances for $14 a ton and 7,515,000 2016 vintage allowances for $10.71 a ton in an auction on May 16 under the state cap-and-trade program...


IN OTHER NEWS

The Tax Equity Market
The tax equity market is awaiting new guidelines that could affect how some deals are structured...

Chuck Ramsey
Chuck Ramsey, chief of the IRS branch that deals with energy-related tax credits, is retiring in July.

A solar rooftop company
A solar rooftop company that entered into a long-term contract to supply electricity to a city building in Dubuque, Iowa from solar panels it mounted on the roof is not making retail sales of electricity.

The US Treasury
The US Treasury is expecting to pay another $12.5 billion in grants on renewable energy projects before the section 1603 program ends...

Master limited partnerships
Master limited partnerships took a step closer in late April to use in the renewable energy market, but they remain a hard sell in Congress.

Improvements to power plants
Improvements to power plants should be easier to distinguish from repairs in the future after an IRS revenue procedure in April that breaks power plants down into smaller “units of property” and “...

Repatriation Strategy
Repatriation strategy that a US company used to bring back money parked in offshore holding companies for use in the United States ended up triggering US taxes, the US Tax Court said...

Windfall Profits
A windfall profits tax in the United Kingdom can be credited against US income taxes, the US Supreme Court said...

Carbon taxes
A carbon tax remains in play. Such a tax was included on a list of options that members of the Senate tax-writing committee were given by committee staff in April...

Foreign Partners
Foreign partners in partnerships engaged in business in the United States are subject to income taxes at regular corporate income tax rates when selling their partnership interests, the IRS says...

Cost Reimbursements
Cost reimbursements to partners are getting attention at the IRS. The IRS is concerned about double dipping in partnerships as follows...

Minor memos
It would cost the US government $24.7 billion over 10 years in lost tax revenue to make production tax credits for wind, geothermal, biomass, landfill gas, incremental hydroelectric and ocean energy projects...