Read about Illinois’ substantial new climate and energy legislative package in this Legal Update authored by my Mayer Brown colleagues, Nadav Klugman, Joe Seliga and Casey Williams.
Governors of Nine East Coast States Send Offshore Wind Letter to Biden Administration
Read about the letter in this piece by my partners Paul Forrester and Eric Pogue.
G7 Commits to Multi-Year Effort to Support Net-Zero Global Economy and to Move to Mandatory Climate Risk Reporting
Read the latest from G7 on climate change in this Legal Update authored by my Mayer Brown colleagues, Paul Forrester and Andrew Olmem.
Recent Legislative Proposals Could Drastically Change US Energy Taxation
There have been a number of recent legislative proposals that could drastically impact the US energy industry, including renewables. In this Legal Update, my Mayer Brown colleagues and I describe some of the highlights.
Energy Tax Implications of New Infrastructure and Tax Plans
On March 31, 2021, the Biden administration released the American Jobs Plan (the “Infrastructure Plan”), which is a proposal that, if ultimately enacted, aims to modernize outdated infrastructure, create additional jobs and increase the United States’ global competitiveness. Alongside the Infrastructure Plan, the Biden administration released a Made in America Tax Plan (the “Tax Plan”),
GREEN Act of 2021
House Ways and Means Committee Democrats introduced the Growing Renewable Energy and Efficiency Now (GREEN) Act of 2021 on February 5, 2021. The bill is an updated version of a similar bill of the same name introduced in June of 2020.
Continue Reading GREEN Act of 2021
Covid-19 Relief Legislation to Have Extenders for Renewables
Last night, Congressional leaders announced an agreement on a $900 billion COVID relief bill. While the text of the bill has not been released as of this writing, people familiar with the negotiations have indicated that the deal will extend renewable energy tax credits for wind and solar projects and the Section 45Q carbon capture
COVID-19: CARES Act Fails to Address Renewable Energy Industry’s Concerns But Path Forward with the IRS Remains
Please click here to read our latest client alert, which discusses some of the tax-related concerns that the renewable energy is facing due the COVID-19.
Senator Paul Requests Changes to the IRS’ “Beginning of Construction” Guidance for PTCs
In a letter dated May 8, 2018, Senator Rand Paul (R-Ky.), in support of his state’s coal industry, urges the U.S. Department of Treasury (“Treasury”) to make significant changes to the existing “beginning of construction” guidance issued by the Internal Revenue Service (“IRS”) in a series of notices (“IRS Notices”). The IRS Notices include industry-friendly
Financing Wind New York Soundbites
On May 30, A Word About Wind held its first annual Financing Wind New York conference. Tickets to the conference sold out and the attendees were generally wind pros with considerable experience. The panelists provided many useful insights regarding the wind industry.
Below are soundbites from the conference. They are organized by topic, rather than chronologically, and were prepared without the benefit of a transcript or a recording.
Offshore Wind
“Right now, globally there is 18 GW of offshore wind.” — North American Leader, European Based Offshore Wind Developer
“Expecting 20 to 30 GW of offshore wind by 2030. So that means a couple of gigawatts a year of offshore wind.” — North American Leader, European Based Offshore Wind Developer
“Offshore wind can be very close to the load centers, 20 to 30 miles away from where people are actually using the electricity. That makes offshore wind easier than onshore wind, which is now facing transmission challenges to get their power to where people actually use it.” — North American Leader, European Based Offshore Wind Developer
“The European model has been to have the local utility build out to the offshore wind. In the US, the trend appears to be wind generators are responsible for getting their wind to shore. I expect wind developers will end up paying for the grid connection. There is a discrete set of permitting and risks building that connection 30 miles out in the water to the project.” – President, Transmission Developer
“Energy is politically driven, so having manufacturing facilities set up here in the US is very important.” — North American Leader, European Based Offshore Wind Developer
“Energy policy is very much driven by the states. However, the federal government under Trump has been supportive of offshore wind. The Trump administration has taken on board streamlining the offshore wind permitting process and has been supportive of new offshore wind leases.” — North American Leader, European Based Offshore Wind Developer
Continue Reading Financing Wind New York Soundbites