Sustainable Energy & Infrastructure

During the What Regulatory and Commercial Challenges Are Utility-Scale Renewable Energy Projects Facing? fireside chat at Mintz’s Second Annual Energy Transition Summit, Mintz Member Steven Shparber and attorney Omar Bustami discussed the regulatory and commercial challenges facing utility-scale renewable energy projects.

This past summer, the Treasury and Internal Revenue Service (IRS) published proposed Treasury Regulations (88 FR 40528 and 88 FR 40496) under two key provisions of the Inflation Reduction Act of 2022 (IRA) designed to enable taxpayers and tax-exempt entities to monetize certain energy-related federal tax credits. Section 6417  allows certain tax-exempt and governmental entities that historically could not benefit from such tax credits to receive direct payments from the government in lieu of such tax credits. Section 6418 permits taxpayers to transfer all or a portion of certain energy-related tax credits to unrelated parties for cash. By broadening the universe of organizations that are able to make use of energy-related tax credits through the direct pay provisions and creating a more direct pathway for taxpayers interested in financing energy projects to share credits through transferability, these provisions stand to significantly expand the market for investment in energy projects.

The Investment Panel: What Has Been Observed in 2023? discussion at Mintz’s Second Annual Energy Transition Summit explored investment trends during 2023 and future capital outlooks. Mintz Attorney Rachel Gholston moderated a panel that included Boston Metal CEO Tadeu Carneiro, CubicPV CEO Frank van Mierlo, RA Capital Managing Partner of Planetary Investment Brigid O’Brien, and Mintz Member Sahir Surmeli.

The Mintz ESG Working Group created an in-depth primer covering the current landscape of ESG issues businesses are typically confronting. Our attorneys examine a broad spectrum of topics, including the polarization of rulemaking on the state and local levels, regulation and enforcement trends, and DEI policies, to help companies effectively navigate the ESG landscape. 

Our October 2023 Energy & Sustainability Washington Update covers ML Strategies’ addition of Senior Vice President John Lushetsky to its Washington energy team, the launch of the new American Climate Corps, and new Bipartisan Infrastructure Law and Inflation Reduction Act opportunities, as well as recent successes of the two new laws.

Visit our Energy Funding Matrix for a roundup of various clean energy opportunities. We update the matrix on a biweekly basis and welcome any inquiries about how the Bipartisan Infrastructure Law and Inflation Reduction Act, along with other relevant federal opportunities, may impact your business or organization.

Read about Aeroseal, a climate-tech company that offers a patented and innovative solution that reduces energy leaks in buildings and its recent $67 million Series B funding round.

Read about SEC Enforcement Division document requests and subpoenas targeting the marketing of ESG funds and a Montana state court ruling, which held that the plaintiffs have a fundamental constitutional right to a clean and healthful environment.

Read about recent M&A activity in the energy and sustainability space, including energy storage and management company Electriq Power’s $495 million acquisition of TLG Acquisition One through a reverse merger.

Learn about upcoming energy industry events, including the Dynamo Energy Transition Summit: Climate Week 2023.

This issue of Energy & Sustainability Connections includes features about a landmark FERC order involving generator interconnection, a greenwashing class action, climate-tech innovators Aeroseal and Yard Stick, as well as recent M&A activity, the latest energy policy updates from Washington, IP and litigation developments, plus a list of upcoming industry events and Mintz’s energy funding matrix.

Read about patent litigation involving Tesla and electric vehicle technology, the DOE’s new critical mineral assessment, EV and powertrain manufacturer Proterra’s decision to file for bankruptcy, and battery maker Freyr Battery.

On July 28, 2023 the Federal Energy Regulatory Commission issued Order No. 2023, a landmark order in which the Commission concluded definitively that the existing pro forma generator interconnection procedures and agreements are insufficient to ensure that interconnection customers are able to interconnect to the transmission system in a reliable, efficient, transparent, and timely manner. Read more to learn about the Order.

Plaintiffs’ attorneys are increasingly bringing false advertising class action lawsuits that target companies’ inflated claims about the sustainability of their products — or “greenwashing.” Mintz litigators and energy attorneys discuss how regulators are focusing on these issues and provide an in-depth analysis of private litigation in this area.

This issue of Energy & Sustainability Connections includes features about compliance issues associated with new ESG requirements for banks that hold public funds, solar manufacturing innovator CubicPV, the firm’s addition of energy regulatory and transactional attorney Steven Shparber, recent M&A activity, the latest energy policy updates from Washington, and litigation developments, plus a list of upcoming industry events and Mintz’s energy funding matrix.

Read about letters Republican congressmen recently sent letters on behalf of the House Committee on the Judiciary to asset managers and nonprofit organizations demanding documents related to an allegedly collusive agreement to decarbonize and reduce emissions.

Read about solar manufacturing innovator CubicPV and its recent announcement that it has secured more than $100 million in equity commitments, which will support its US factory plans and product roadmap.

Learn about upcoming energy industry events, including an MCEC webinar titled Powering the Future: A Massachusetts Clean Energy Workforce Needs Assessment. 

Read about recent M&A activity in the energy and sustainability space, including Emcor Group’s definitive agreement to acquire national energy efficiency specialty services firm ECM Holding Group.