Renewable Energy Projects: New Treasury Guidance for Grants in Lieu of Tax Credits
Leveraging the New Option for Financing Renewable Energy Projects
Recording of a 90-minute CLE teleconference with Q&A
Conducted on Tuesday, September 15, 2009
Recorded event now available
This seminar will review the key energy provisions of the American Recovery and Reinvestment Act, the guidance issued by the Treasury Department, and implications for businesses and counsel involved in renewable energy projects.
Description
The Treasury Department issued long-awaited guidance to apply for the cash grant in lieu of tax credits for renewable energy projects authorized by The American Recovery and Reinvestment Act of 2009. The guidance facilitates the flow of program funds to eligible businesses.
The grant program reimburses a portion of the expense incurred in acquiring specified energy property and is in lieu of other available tax credits under Internal Revenue Code sections 45 and 48.
The grants provide an incentive for investment in renewable energy projects to investors who have lost the capacity to benefit from tax credits. It is important for companies and counsel to understand the pros and cons of the grants.
Listen as our authoritative panel of attorneys analyzes the Treasury Department’s new guidance, examines the benefits of the grants and tax credits, and outlines financing strategies for renewable energy projects.
Outline
- American Recovery and Reinvestment Act of 2009
- Key energy tax provisions
- ARRA Section 1603 Treasury grant program
- Guidance for cash grant in lieu of tax credits
- Application procedures
- Applicant eligibility
- Qualified renewable energy facility
- Beginning of construction and placed in service
- Required documentation
- Implications for financing projects
- Grants v. tax credits
- Recapture rules
- At-risk rules
- Strategies for financing renewable energy projects
- Go it alone
- Flip partnership
- Sale-leaseback
- Inverted lease
Benefits
The panel will review these and other key questions:
- What is the Treasury Department's approach for the ITC Direct Payment program?
- How are key stakeholders, such as investors and developers, impacted by the new guidance?
- How will financing structures for renewable energy projects change in light of the new guidance?
Faculty
Stephen Krebs,
Partner
Baker Botts, Houston
He has broad experience in capital market, bank, lease and private placement financings involving renewables, power plants, petrochemical and LNG facilities, refineries, and oil and gas projects. He advises clients on risk allocation and structuring arrangements consistent with their business objectives. He heads the firm's Global Projects Alternative Energy Practice.
Andrew W. Ratts,
Partner
Winston & Strawn, Chicago
He advises clients on tax issues relating to business formations, acquisitions, divestitures, debt reorganizations, executive compensation, investments, financings, operating joint ventures, leasing, public and private debt/equity offerings, and derivatives. He is involved with energy credit syndications and project finance.
Neil D. Kimmelfield,
Partner
Lane Powell, Portland, Ore.
His practice emphasizes structuring corporate, partnership and real estate transactions, including structured tax financing of energy and community development projects using state and federal tax credits, counseling large and small businesses and exempt organizations in tax matters, litigating tax cases in federal courts, and handling administrative controversies before the IRS.
Ordering
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CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, TX*, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com. (*Indicates that Strafford needs to process the CLE — see below to purchase this option.)
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Customer Reviews
This was an excellent teleconference; one of the best I have listened to. The speakers were all very knowledgeable on the subject, but importantly, they were able to present in a very direct, easy to listen to and understand style.
Jose E Guzman, Jr.
Nossaman
The speakers were excellent and made it easy to understand the complex subjects.
Michael Robinson
Winston & Strawn LLP
The presenters were lucid, articulate, and informative. The seminar exceeded my expectations.
Irvin Slate
Slate Law Office
This seminar covered a lot of territory in a short period of time. It also assumed that the attendees had a significant level of experience coming into the program, which I did.
Louis C. Long
Pietragallo
The back-and-forth between the panelists made the program easy to listen to. The slides were very well done.
Chris Kelly
Mayer Brown
Environmental Law Advisory Board
Partner
Allen Matkins
Partner
Loeb & Loeb
Of Counsel
Stoel Rives
Partner
Shipman & Goodwin
Partner
Akin Gump Strauss Hauer & Feld
Partner
Arnold & Porter
Partner
Gibson Dunn & Crutcher
Partner
Dinsmore & Shohl
Partner
Cravath Swaine & Moore
Special Counsel
Stroock & Stroock & Lavan
Partner
Bryan Cave
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