Renewable Energy Projects: Maximizing Investment and Production Tax Credits

Mr. McCormick focuses his practice on tax structuring for renewable energy transactions, with a particular emphasis on production tax credits (PTC), investment tax credits (ITC) and Section 1603 Treasury Grants. His renewable energy experience includes project developments, joint ownership arrangements, power purchase agreements, transmission agreements, turbine supply agreements, balance of plant contracts, financings, acquisitions, divestures and operational matters. He also has significant experience representing clients with their mergers and acquisitions, finance ventures, capital raises and general governance.

Mr. Medina is a partner in the Project Development & Finance practice and Head of Renewables (Americas). He focuses on federal tax policy and controversy issues involving renewable energy and energy transition assets and he has extensive experience structuring tax-driven transactions. Mr. Medina manages the execution of tax equity and debt transactions and represents both sponsors and tax equity investors in the energy sector in connection with energy storage, wind, solar, hydrogen, renewable natural gas, carbon capture, geothermal, biofuels and electric vehicle infrastructure projects. He is deeply familiar with all forms of tax equity structures, having closed dozens of partnership flip, lease pass-through and sale-leaseback transactions. Prior to joining the firm, Mr. Medina was co-leader of energy renewables and infrastructure at his prior law firm. He also previously served as associate general counsel-tax at automotive and energy company Tesla Inc., where he was primarily responsible for all tax issues across Tesla related to the energy and storage business and served as vice president and deputy general counsel at SolarCity, which Tesla purchased in 2016.

Mr. Grappone specializes in providing accounting, tax and consulting services to developers, syndicators and investors of developments that qualify for federal and state tax credits such as the low-income housing tax credit, historic rehabilitation tax credit, new markets tax credit, renewable energy tax credits and opportunity zone incentives. He is a frequent speaker at various renewable energy and other tax credit industry events and has contributed several articles on renewable energy to the Novogradac Journal of Tax Credits and serves as a technical editor of the Novogradac Renewable Energy Tax Credit Handbook.