Craig Kline and John Leonti, partners in Troutman Pepper’s Renewable Energy Practice Group, are quoted in the Law360 article, “Six Energy Project Finance Trends to Watch in 2022.”
Troutman Pepper Partner John Leonti will speak at The Energy Storage Annual Conference & Expo held on December 1-3 in Phoenix, AZ.
A jury recently held that four cryptocurrency-related products were not “investment contracts,” giving cryptocurrency market participants some much-needed and rarely received comfort that their digital asset(s) or product(s) may not be subject to state and federal securities laws.
While the solar module market continues to experience the shipping and inflation issues that are impacting many industries, the U.S. Department of Commerce (DOC) and the U.S. Customs and Border Protection (CBP) have taken action in the past week, which is expected to help alleviate two of the biggest obstacles that have been facing the industry and have a positive impact on solar project development in the coming year. Continue Reading Feds Take Action to Alleviate Supply Chain Issues Impacting Solar Industry
Ahead of the Congressional Budget Office releasing its cost estimate on the Build Back Better (BBB) Act, Adam Kobos, a partner in the tax practice of Troutman Pepper, joins NPM Managing Editor Jon Berke on the New Project Media Interconnections Podcast. Continue Reading New Project Media Interconnections Podcast – Episode 19: Adam Kobos, Troutman Pepper
On October 28, the House Rules Committee released a modified version of the budget reconciliation legislation, the Build Back Better Act (the Bill), including Subtitle D, Green Energy. Before release of the Bill, President Joe Biden announced a framework for the Build Back Better Act, reflecting the administration’s negotiations with Democrat senators and representatives. House Speaker Nancy Pelosi has indicated that the text of the Build Back Better Act is still up for consideration and review, and further changes to the Bill are expected. The Bill must be approved by the House Rules Committee before being considered by the House of Representatives.
The Biden administration earlier this year released a summary of its plans to invest in infrastructure, which included “direct-pay” options for the investment tax credit (ITC) and production tax credit (PTC) for clean energy generation and storage, as well as the Section 45Q credit for carbon capture and sequestration. The administration subsequently released the Green Book, its general explanations of the budget proposals for the fiscal year 2022, which contained more detailed information about the administration’s tax proposals but did not elaborate on the direct-pay options for the ITC, PTC, and Section 45Q credit. Congress has now passed a $3.5 trillion budget resolution, with proposed budget reconciliation legislation expected to include clean energy incentives. The applicable House and Senate committees will begin drafting the legislation later this month. In the absence of a draft budget reconciliation bill providing details on a direct-pay option, recent legislative proposals introduced in the current Congress can serve as helpful guideposts for considering how the direct-pay option will be structured.
The recent proposals are consistent in many respects. All provide that the taxpayer may elect to be treated as if it has made a payment against income tax for the taxable year, thus making the taxpayer eligible for a refund of such payment if it exceeds its tax liability. The credit for which the taxpayer would otherwise be eligible is reduced, preventing a double benefit. Any payment received is excluded from gross income. Each proposal also provides that the Treasury secretary will determine the manner of making the election. However, the similarities generally end there. Below is a discussion of open questions based on the key variations between the recent proposals. Continue Reading Direct-Pay Options: A Review of Recent Legislative Proposals
On January 20, 2021, President Joseph Biden issued Executive Order No. 13990 (“Executive Order”), which, among other things, suspended Executive Order 13920, “Securing the United States Bulk-Power System” (“Executive Order 13920”) until April 20, 2021 and directed all executive departments and agencies to review and take action to address all actions taken during former-President Donald Trump’s tenure in office that conflict with President Biden’s stated goals of improving public health, environmental protection, reducing greenhouse gas emissions, bolstering resilience to the impacts of climate change, and confronting the climate crisis. Continue Reading President Biden Suspends Bulk Power System Executive Order; Directs Agencies to Address Public Health- and Climate-Related Rules
Power Finance & Risk recently brought together John Leonti, Krish Koomar, Javier Cavada Camino, Mike Lorusso, Claus Hertel and Santosh Raikar for a virtual discussion on one of the hottest topics in energy infrastructure today – storage.
Read the article here.