As discussed previously in this blog, physical attacks against substations have been on the rise. However, the U.S. power grid is also vulnerable to cyberattacks from U.S. adversaries, which includes hostile foreign governments, as well as individual bad actors such as insiders and criminals. Although there have been more physical attacks than cyberattacks
Earlier this summer, the Federal Energy Regulatory Commission (FERC) introduced a groundbreaking order—Order No. 2023—aimed at reforming the generator interconnection process in response to the evolving landscape of energy resources, market dynamics, and emerging technologies across the nation.
Industry reaction to the substance of the new rules has been mixed, but it is…
Last month, we reported how a key component of project finance—syndicated term loans—was the subject of a crucial case being heard in the U.S. Court of Appeals for the Second Circuit. In Kirschner v. JP Morgan Chase, the plaintiff contended that the term loans at issue were in fact securities that should be regulated…
Developers of renewable energy projects generally haven’t concerned themselves with the Davis-Bacon Act, the Great Depression-era federal law that mandates the paying of prevailing wages to laborers on public works projects; however, if the Department of Labor (DOL) gets its way, that might soon change.
The global transition to clean energy is accelerating. Belatedly, attention is starting to move to mineral sourcing, particularly whether the necessary critical minerals will be available in the United States. A recent Aspen Institute report observed: “As the world transitions to a new energy mix, it will require clean energy technologies that are extremely mineral intensive. Demand for minerals is projected to rise at unprecedented rates and could generate supply shortfalls that will slow, or potentially even derail, global efforts to reach net-zero targets.”
Whether initiating litigation or defending against a recently filed suit, venue needs to be front of mind. Venue issues have been a popular topic recently as parties have attempted to seek out venues as a means of selecting a particular judge to hear their case. But whether you are defending or filing, these tactics only work if venue is proper.
The Michigan Senate recently introduced legislation in an attempt to join several North American jurisdictions that have established clean fuel standards. The Michigan Clean Fuel Standard aims to reduce the average carbon intensity of transportation fuels sold and used in Michigan and incentivize investment in the production, distribution, and use of clean alternative fuels. Several…
The Inflation Reduction Act (the “IRA”) provides funding for several tax credit incentives related to significant investments in energy projects. One of these credits is the section 48C investment tax credit (“48C Credit”), which was originally offered through the American Recovery and Reinvestment Act of 2009. The IRA includes a $10 billion allocation to the 48C Credit and also broadens the scope of eligible property a company can invest in to be eligible for the credit. If selected, the 48C Credit provides a credit equal to 30% of the project’s capital investment that is deemed to be “eligible energy property.”
Syndicated term loans can be a significant piece of the capital stack when financing renewable energy projects; however, a crucial pending case in the U.S. Court of Appeals for the Second Circuit could complicate the use of these types of loans going forward. The case—Kirschner v. JP Morgan Chase—will seek to answer the central question at play: are syndicated term loans subject to federal and state securities laws? The eventual ruling in this case could potentially impact any borrower or lender issuing or holding a term loan in a syndicated facility.
Whether working on your first utility scale project financing or your fiftieth, the process can be costly, time consuming, and stressful. This article shares a few tips on how to make financing go more smoothly and cost less.