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 premium CLE/CPE webinar with Q&A

Conducted on Tuesday, September 15, 2009

Program Materials

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.

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Outline

  1. American Recovery and Reinvestment Act of 2009
    1. Key energy tax provisions
    2. ARRA Section 1603 Treasury grant program
  2. Guidance for cash grant in lieu of tax credits
    1. Application procedures
    2. Applicant eligibility
    3. Qualified renewable energy facility
    4. Beginning of construction and placed in service
    5. Required documentation
    6. Implications for financing projects
  3. Grants v. tax credits
    1. Recapture rules
    2. At-risk rules
  4. Strategies for financing renewable energy projects
    1. Go it alone
    2. Flip partnership
    3. Sale-leaseback
    4. 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
Stephen Krebs
Partner
Baker Botts

He has broad experience in capital market, bank, lease and private placement financings involving renewables, power...  |  Read More

Andrew W. Ratts
Andrew W. Ratts
Partner
Winston & Strawn

Mr. Ratts advises clients on tax issues relating to business formations, acquisitions, divestitures, debt...  |  Read More

Neil D. Kimmelfield
Neil D. Kimmelfield
Partner
Lane Powell

His practice emphasizes structuring corporate, partnership and real estate transactions, including structured tax...  |  Read More

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