Projects & Infrastructure

When President Biden’s signature Build Back Better Act faltered last year, many viewed the effort to be a failure. However, negotiations continued before Senate Majority Leader Chuck Schumer (D-NY) and Sen. Joe Manchin (D-WV) announced the package in late July. Nearly half of the $737 billion in revenue will be invested in clean energy and includes many direct funding opportunities in the form of grants, loans, and rebates focused on climate, energy, and energy efficiency. 

Read about the Inflation Reduction Act of 2022 enacted August 16, 2022, which extends and expands existing tax credits and adds several new energy tax credits to encourage the production of electricity using clean energy and the reduction of carbon emissions.

Read Mintz’s summary of important tax provisions included in the recently announced Inflation Reduction Act of 2022. If it is signed into law, the Act will establish a 15% corporate minimum tax; modify the carried interest rule; and expand, extend, and add new energy tax credits.

In February 2020, the IRS issued Notice 2020-12, which provides long-awaited guidance on when a “qualified facility” or carbon capture equipment, in each case within the meaning of section 45Q, is considered to have “begun construction.” This question is of paramount significance because section 45Q allows a carbon capture credit for carbon oxide that is captured using carbon capture equipment that is originally placed in service at a qualified facility, and a qualified facility means an industrial or direct air capture facility, the construction of which began before January 1, 2024.

In a May 21 letter to Treasury Secretary Steven Mnuchin, three Republican senators—Senator Lisa Murkowski (R-AK), Senator Susan M. Collins (R-ME), and Senator Thom Tillis (R-NC)—have requested that Treasury modify existing Internal Revenue Service (“IRS”) guidance on “start of construction” to provide production tax credit (“PTC”) and investment tax credit (“ITC”) relief to wind and solar projects affected by COVID-19 related disruptions.

This issue includes a feature on New York’s offshore wind energy deal, a podcast discussion with Solstice co-founders Steph Speirs and Sandhya Murali, recent energy-related M&A activity, energy updates from Washington, and upcoming events.

In this episode of MintzEdge’s From the Edge podcast, corporate attorney Ben Stone speaks with Steph Speirs and Sandhya Murali, co-founders of Solstice, about their journey starting and scaling a dynamic start-up that aims to make solar energy accessible for everyone in the United States.

Mintz Continues to Expand Project Development & Finance Team

In this four-part series, we explore how to value and diligence a solar development pipeline in commercial and industrial (C&I) and utility scale contexts. This is the fourth installment of the series.

In this four-part series, we explore how to value and diligence a solar development pipeline in commercial and industrial (C&I) and utility scale contexts. This is the third installment of the series.

In this four-part series, we explore how to value and diligence a solar development pipeline in commercial and industrial (C&I) and utility scale contexts. This is the second installment of the series.

In this four-part series, we explore how to value and diligence a solar development pipeline in commercial and industrial (C&I) and utility scale contexts. This is the first installment of the series.