Renewable Energy Insights > Troutman Sanders LLP

Energy Partner Justin Boose authors “Renewable Financing: A Closer Look at YieldCos” in North American Clean Energy

New York Energy Partner Justin Boose explains why YieldCos are increasingly becoming an option as a cheaper source of financing for renewable energy as well as conventional energy assets in the January/February issue of North American Clean Energy. Incoming associate Patrick Ryan assisted with the article. Read the full article here.

January 16, 2015   Comments Off

The 2014 Troutman Sanders Renewable Energy Market Recap is here!

Renewable image2In 2014, we at Troutman Sanders were honored to have represented our clients in some of the most cutting-edge and exciting renewable energy projects in the United States. Our reach spanned 19 states and accounted for approximately 3,000 MWs.

As we enter 2015, we are taking a look back at the biggest trends and challenges we observed during our work in 2014 in the form of a 2014 Troutman Sanders Renewable Energy Market Recap. From the rise of yield cos to the increased use of virtual net metering, 2014 was an exciting year for renewable energy.  During 2014, we saw the demand for renewable energy development boom as the incentives landscape continued to change and companies and governments searched for low-cost capital sources to meet their needs with cost-effective and sustainable solutions.

Over the past year, we note that many of our transactions were structured as partnerships, bringing utilities’ tax appetite to the structure. We saw utilities partner with sponsors for long-term tax and cash sharing arrangements not dissimilar to partnership flips, except where the parties have a long-term interest in remaining owners of the project. In 2014 we saw several tax equity partnership transactions in which the tax equity investor retained a significant residual interest in the projects in the post-flip period.

Some other major themes and trends we noticed in 2014 include an uptick in virtual net metering, the rise in project development in the Northeast, growing concern over the “duck curve,” an increased focus on energy storage, significant environmental developments regarding endangered species and wetlands, increased military installations, issues related to the California property tax exclusion for solar projects, and the extension of tax provisions and REIT regulations in general.

Our 2014 Troutman Sanders Renewable Energy Market Recap gives a snapshot of these renewable energy market trends and what the industry has to look forward to in 2015.

January 16, 2015   Comments Off

Southern California Edison Enters Into Momentous Energy Storage Agreements

On November 5, 2014, Southern California Edison (“SCE”) announced that it entered into contracts for 2,221 MW of power to satisfy its customers’ demand, including contracts for 262 MW of long-term storage capacity. The energy storage agreements were in response to the California Public Utilities Commission’s (“CPUC”) rulemaking that set energy storage targets for investor-owned utilities in the State of California. [Read more →]

November 13, 2014   Comments Off

D.C. Circuit Court of Appeals Delays Order Vacating Demand Response

On October 20, 2014, the U.S. Court of Appeals for the District of Columbia Circuit (“D.C. Circuit”) approved a request by FERC to delay finalizing its decision that vacated FERC Order No. 745 regarding demand response compensation for consumers. The D.C. Circuit approved the delay through December 16, 2014. Additionally, it stated that if it is notified of a petition for writ of certiorari filed during the delay, the court will withhold issuance of the mandate finalizing its decision to vacate, pending the Supreme Court’s final disposition. [Read more →]

November 13, 2014   Comments Off

FERC Accepts Bonneville Wind Curtailment “Oversupply Management” Policy Through 2015; Encourages Development of Long-Term Solution

On October 16, 2014 FERC issued an order accepting Bonneville Power Administration’s (“BPA”) revised Oversupply Management Protocol (“OMP”) and OS-14 Oversupply Rate (“OS-14 Rate”) as a compliance filing under FPA Section 211A standards. The Commission also issued an order approving the OS-14 rate under BPA’s Northwest Power Act rate standards. In making the approval, FERC stated that its acceptance of the BPA’s OMP remains an interim solution and that the Revised OMP expires on September 30, 2015. If BPA desired to extend the use of OMP beyond that date, it will be required to file a request to do so with FERC, explaining why the continued use of OMP is justified. FERC encouraged BPA to continue to work toward a “mutually agreeable long-term solution to manage oversupply conditions rather than continuing to rely on involuntary curtailment.” [Read more →]

October 23, 2014   Comments Off