Structuring Construction and Tax Equity Bridge Financings for Wind, Solar and Battery Storage Projects

Reducing Legal Risk and Maximizing Client Income Opportunities Through Financing, Tax Incentives, and Documentation

Note: CPE credit is not offered on this program

Recording of a 90-minute premium CLE video webinar with Q&A

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Conducted on Tuesday, April 4, 2023

Recorded event now available

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Course Materials

This CLE course will provide energy and finance counsel with a briefing on certain critical legal, tax, and financing issues in wind, solar and battery storage projects. The panel will also review avenues to obtain financing for the project and leverage existing tax incentives.

Description

Wind, solar and battery storage projects are complex transactions involving assessing available incentives and resolving unique issues arising from the acquisition, construction, and financing of such projects. In addition, project sponsors are increasingly seeking to obtain construction and tax equity bridge financing for such projects to take advantage of available tax incentives and benefits, including provisions introduced under the Inflation Reduction Act that reinstated the production tax credit for solar facilities, extended the investment tax credit, modified credit qualification requirements and amounts, and established the ability to transfer credits or elect a direct pay option.

Counsel must ensure that such bridge financing structures address change of control, collateral, sponsor credit support and other financing issues. Counsel must also prepare for specific contract pitfalls, especially those that require top-level client approval or long lead times and keep apprised of the relevant tax regulations impacting the corporate structure and construction schedule for such projects.

Listen as our panel of authoritative practitioners provides their unique perspectives, overview, and analysis on the tax incentives, documentation, and financing issues for wind, solar and battery storage projects.

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Outline

  1. Review of common ownership and bridge financing structures and documentation
  2. Overview of tax incentives and benefits available for wind, solar and battery storage projects, including extensions and changes introduced in the Inflation Reduction Act
  3. Change of control, collateral, sponsor credit support and other financing issues
  4. Contract issues arising in connection with wind, solar and battery storage projects

Benefits

The panel will review these and other key issues:

  • How are construction and tax equity bridge financings structured for wind, solar and battery storage projects?
  • What are the unique issues in negotiating and structuring such financings?
  • How do various contract terms and deal issues affect financing and tax incentives?
  • What impact has the Inflation Reduction Act had on available tax incentives and benefits for such projects?

Faculty

Avila, David
David Avila
Of Counsel
Paul Hastings

Mr. Avila is of counsel in the Energy and Infrastructure practice of Paul Hastings and is based in the...  |  Read More

Freedman, Robert
Robert N. Freedman
Partner
Paul Hastings

Mr. Freedman focuses on finance and development, asset acquisitions and dispositions and complex work-outs and...  |  Read More

LaBerge, Kami
Kami LaBerge
Attorney
Paul Hastings

Ms. LaBerge provides advice on a wide range of domestic and international transactional tax matters. She has experience...  |  Read More

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