Project Finance NewsWire Archive

June 2016 | Norton Rose Fulbright

Written by Admin | June 2016

IN THIS ISSUE

Argentina launches innovative renewables program

Argentina will hold a public auction on August 22 to buy 1,000 megawatts of renewable energy under an innovative program called “RenovAR” that includes a “green trust fund” to provide security and...

Mexico gears up for second power auction

Mexico issued bid guidelines in early May for its next auction of long-term power contracts expected to be awarded in September...

New trends in financing wind farms

Four top executives of prominent wind companies talked at the Global Windpower 2016 convention in late May in New Orleans about new trends in financing wind farms, whether we have reached a tippin...

Death, dying and debt restructuring

A little over a decade ago, I was asked to deliver a luncheon speech to describe how financial restructurings work and how to avoid them...

IRS issues more construction-start guidance

The Internal Revenue Service said in May that developers will have four years to complete a new wind farm or other renewable energy project and qualify for federal tax credits without having to pr...

Solar gains ground in the Middle East

The world-record-breaking tariffs received by the Dubai Electricity and Water Authority last month to supply solar electricity from phase III of the Sheikh Mohammed Bin Rashid Al Maktoum Solar Par...

Is US offshore wind about to get traction?

The trade press has been running stories lately that offshore wind is finally coming of age in the United States. Several big players are now moving into the sector...

Ideas for cash investors in US solar projects

Private equity funds, pension funds and foreign investors have a hard time investing in US solar projects because they cannot use the tax benefits to which the owner of such a project is entitled...

Net metering debate moves East

The debate over standard net metering benefits in the US has migrated east...

Environmental update

The US Fish and Wildlife Service proposed boosting the annual incidental take limit for bald eagles in early May from 1,103 to 4,200 nationwide...


IN OTHER NEWS

Some foreign-owned US companies

Some foreign-owned US companies will have to file additional reports...

Wyden proposes depreciation revamp

US depreciation allowances would be rewritten under a draft bill that the ranking Democrat on the Senate tax committee, Ron Wyden (D-Oregon), is circulating for comment...

Supreme Court nixes two PPAs

Two state-mandated power contracts were set aside in court...

IRS announces 2016 PTC rates

Production tax credits for renewable energy projects will remain unchanged in 2016 from 2015 levels, the IRS said in late April. Credits for producing refined coal increased slightly in amount...

Network upgrade payments were income

Network upgrade payments had to be reported as income, the IRS said. Independent generators must connect their power plants to the utility grid...

Treasury cash grant cases move forward

Treasury cash grant cases are now moving forward...

India rewrites tax treaty with Mauritius

Mauritius will no longer be as good a gateway for investments into India after the two countries agreed to amend a tax treaty...

Vodafone tax dispute with India

India is not giving up on trying to collect taxes from Vodafone. The country has been locked in a long-running dispute with the British telecom company, which India says owes at least $2...

Offshore share transfers may trigger African taxes

Africa may be moving to tax gains on indirect share transfers in African companies...

Clean Power Plan accelerates coal retirements

US coal retirements would be 50,000 megawatts greater if the Clean Power Plan is implemented. Coal accounts currently for 33% of US electricity supply...

Bad-boy guarantees analyzed

Bad-boy guarantees do not turn nonrecourse debt into recourse debt for tax purposes, the IRS said. Most power and other infrastructure projects are owned by special-purpose project companies...

Fibra E rules relaxed

Mexico dropped a requirement that a Fibra E can exist for only 10 years in an effort to make the structure more attractive to investors in the infrastructure and energy sectors...

New Jersey nixes interest deductions

New Jersey denied deductions for interest a corporation doing business in the state paid on a loan from its parent company...

IRS analyzes highway relocation payments

Relocation payments that a company received to make room for a highway expansion did not have to be reported as income. Compensation must usually be reported as income...

PFA fees increase

Pre-filing agreements may now be prohibitively expensive...

Minor memos

The Republican-led House voted in April to bar the IRS from hiring anyone new as long as any IRS employee owes a tax debt.