Purchasing Renewable Energy Credits Amid the Inflation Reduction Act: Deal Terms and Key Considerations
Challenges for Counsel and Investors; Bonus Credits, Monetization, PTC, ITC, Buyer Protections, Passive Activity Rules, and More

Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
Intermediate
- work Practice Area
Energy
- event Date
Thursday, August 1, 2024
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
90 minutes
-
This 90-minute webinar is eligible in most states for 1.5 CLE credits.
This CLE webinar will discuss the new and modified renewable energy credits, including an overview of how the credits are structured and the bonus and add-on requirements that are essential to maximizing the value of any credit (i.e., wage and apprenticeship requirements, domestic content requirements, "energy community" bonuses, etc.). In addition, we will provide attendees with an understanding of the rules that impact the transfer of eligible credits, how the transfers will impact a project's financing structure, and a discussion of strategies to mitigate risks associated with the one-time transfer of eligible credits.
Faculty

Mr. Mowbray focuses his practice on U.S. federal income tax matters, with an emphasis on international tax and the taxation of financial products. He regularly advises clients on ways to enhance the tax efficiency of commercial transactions and operating structures, including outbound investments by U.S. multinationals, inbound investments by non-U.S. multinationals, the structuring of cross-border financings, internal restructurings and reorganizations, and acquisitions. Mr. Mowbray also regularly advises clients on controversy matters involving the recognition of income, transfer pricing and the international tax provisions of the Tax Cuts and Jobs Act of 2017. In addition, he has significant experience with advising clients on digital asset transactions, offerings and entity and investment structures.

Mr. Reisler is a Principal at Sive, Paget & Riesel P.C. He regularly works on solar, storage, wind, geothermal and renewable natural gas project financings, representing lenders and borrowers. Mr. Reisler also works on securitizations of residential solar and rural small wind assets. He frequently represents lenders providing “back leverage” credit facilities to tax-equity financed projects. Mr. Reisler's experience includes representing lenders in recapitalizations of private equity sponsored renewable projects. He has also represented investors in preferred equity financings of LEED certified real estate projects. Mr. Reisler has considerable experience helping lenders navigate the complexity of renewable project finance borrowers in Chapter 11 bankruptcy, advising in negotiations with the Chapter 11 trustee, tax-equity investors, cash-equity investors, O&M service providers and other creditors.

Mr. Burton advises clients on a wide range of U.S. tax matters, with a particular emphasis on project finance and energy transactions. In addition, he also advises clients on tax matters regarding the formation and structuring of domestic and offshore investment funds. He has extensive experience structuring tax-driven vehicles, such as sale-leasebacks, flip partnerships, inverted leases and other structures, for the acquisition and financing of renewable energy assets.
Description
The Inflation Reduction Act of 2022 (IRA) modified and reinstated existing renewable energy credits and enacted new renewable energy credits. The IRA also enacted a novel alternative for monetizing renewable energy credits through the one-time sale and transfer of certain renewable credits for cash under Section 6418 of the Internal Revenue Code.
Listen as our panel discusses new green energy tax incentives and requirements under the IRA, a variety of available credits associated with renewables, options for structuring transfers to third parties, documentation requirements, and other key items that must be considered when purchasing or investing in renewable energy credits.
Outline
- Overview of impact of the IRA on renewables
- Available credits and requirements
- Tax credit transfer regime
- Financing models amid the IRA
Benefits
The panel will discuss these and other key issues:
- Key provisions for renewable tax credits under the IRA
- Transfers of tax credits to third parties
- Available financing models in light of the IRA
- Key considerations and next steps for renewable energy developers, producers, and investors that are considering a purchase or sale of credits
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