Project Development

Wind turbine energy generaters on wind farm

On July 4, 2025, the One, Big, Beautiful Bill Act (the Act) was enacted. Several provisions of the Act will impact renewable energy projects and the tax credits generated by such projects. Such provisions include the accelerated termination for wind and solar credits, as well as restrictions with respect to foreign entities of concern. Most of the energy provisions of the Act will take effect beginning with the taxable year beginning after that date of enactment (i.e., the taxable year beginning January 1, 2026, for most taxpayers), although there are some deviations, as described below.

Employee of a solar panel installation company on the roof

Under the Senate Finance Committee’s June 28th version of the One, Big, Beautiful Bill (the “Bill”), there are several limitations and requirements that would take effect based on the date a project begins construction. For solar and wind projects, unless construction begins prior to enactment of the Bill, the production tax credit and investment tax credit under section 45Y and 48E will terminate for projects that are placed in service after 2027. Additionally, certain restrictions on material assistance from prohibited foreign entities would apply to solar and wind projects which begin construction after June 16th and most other projects that begin construction after 2025. The provisions of the Bill are still being negotiated in the Senate. However, establishing the beginning of construction will almost certainly remain important for developers of renewable energy projects.

Wind turbine of wind power generation

The Senate Finance Committee recently released its own draft of the “One Big Beautiful Bill Act” (the Bill) previously passed by the House as H.R. 1. Both the House and Senate versions of the Bill impose restrictions on Inflation Reduction Act (IRA) tax credits based on “material assistance” from “Foreign Entities of Concern” (FEOCs). The House version lacked significant details on what “material assistance” was. The Senate Bill provides significant details on the structure and operation of the restrictions.

Law, Legislation, Document.

On June 16, 2025, the Senate Finance Committee released its version of the “One, Big Beautiful Bill” (OBBB) that would create a steep phase-out of renewable energy tax credits—notably, renewable energy companies would have to start construction on wind and solar projects before December 31, 2025, to receive 100% of the available tax credits. The reconciliation process is far from over, and there are further revisions expected to the text, but the Senate Finance Committee is the final committee in the Senate expected to release legislative text related to energy tax credits.

Its version of the bill includes the following provisions.

Lately, elected representatives on both sides of the aisle have been displaying an appetite for expanding transferable tax credits to a broader variety of industries. This is evidenced by the recent profusion of proposed legislation that endeavors to subsidize emerging or important technologies with such valuable, transferable credits. This glut of proposed legislation—and the significant opportunities it may afford to the savvy buyer or seller—only promises to increase in importance with federal tax reform on the horizon.

Wind turbine energy generaters on wind farm

Texas has been the top oil and gas producing state in the country since at least the 1970s, today contributing 42% of the nation’s crude oil and 27% of its natural gas.[1] Now, the Lone Star State is also experiencing a boom in renewable energy and data center development thanks to its abundant land, economic incentives, light regulations, and favorable energy prices. However, developers should exercise caution when purchasing or leasing property in Texas for these types of projects, as it is not uncommon to discover that this land may also be home to abandoned or even active oil or gas wells.

The dramatic increase in the use cases for data storage, artificial intelligence and cloud computing have resulted in an atmospheric level rise in the demand for data centers, and the question of providing sufficient power to support those data centers has become paramount. Simultaneously, there has been an increasing emphasis on utilizing green energy as…

On April 30, 2024, the Department of the Treasury issued final regulations on tax credit transfers that allow hydrogen producers to sell tax credits earned under § 45V of the Inflation Reduction Act (IRA). Section 6418 of the Internal Revenue Code and the final regulation issued thereunder allow credit purchasers to use purchased credits to offset their tax liability. Credit sellers will be able to sell credits that they would not otherwise be able to use due to insufficient tax liability. Given such powerful incentives, many energy producers are wondering how to add “green” hydrogen (discussed below) to their portfolios by powering hydrogen facilities with wind turbines and solar panels. Here, we discuss what wind and solar producers should keep in mind as they plan, negotiate, and begin developing hydrogen plants powered by renewable energy, with a particular focus on site control.

Allocating subsurface risk is always a key point of negotiation between owners and contractors in engineering, procurement, and construction (“EPC”) contracts, given its potential price and schedule impacts. Parties can utilize contractual, practical, and creative approaches to address subsurface risk, both before and after EPC contract execution.

Wind turbine energy generaters on wind farm

As the shift from fossil-based energy production to renewable energy sources continues, growth in renewable energy projects under development has been staggering. But moving projects from early-stage development to commercial operations requires navigating complicated methods of financing their development, construction, and operation via structures that vary depending on project ownership, size, technology, and the regulatory environment.