On April 4, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) released Notice 2023-29 (the “Notice”) providing a high-level overview of the rules they intend to include in forthcoming proposed regulations (the “Proposed Regulations”)
Renewable Energy Outlook
Construction Lending Trends in Clean Energy
Construction lending is often an essential financing mechanism to bridge the gap between the drawing board and commercial operation for an energy project. From afar, it can feel like a convoluted process. Fortunately, on this episode of the Powered by…
Top Ten Risk Mitigation Issues in Renewable Energy Construction Loan Agreements
Note: Darin Lowder and Sunita Paknikar discussed this article on a recent episode of the Powered by Foley podcast. Click here to listen.
Construction financing is used to fund the construction of renewable projects prior to such projects obtaining long-term…
Favorable Conditions for Onshoring in 2023
As the pandemic highlighted issues in the global supply chain and as the United States intensifies its investment in clean energy, more renewable energy manufacturers than ever are considering onshoring (or nearshoring) manufacturing facilities in the United States. Domestic demand…
NY PSC Again Modifies Utility Procurement Requirements to Support ‘Ambitious’ Energy Storage Roadmap
New York’s Public Service Commission (“PSC”) issued an order on March 16 modifying its energy storage procurement requirements to give utilities more time to run competitive procurements and support the underlying economics of storage projects for the state’s ambitious energy…
RENEW Wisconsin Renewable Energy Summit
Foley recently sponsored the eleventh annual Renewable Energy Summit in Madison, Wisconsin. The event’s 2023 theme was “Sizing Up the Clean Energy Transformation.” Approximately [600] people attended the conference either in person or virtually. Attendees at the event included representatives…
IRS Releases Guidance on Low-Income Community Credit Adder
On February 13, 2023, the Department of Treasury and the Internal Revenue Service released Notice 2023-17, providing a high-level overview of the program to be established under Section 48(e) of the Internal Revenue Code (the “Code”) related to the…
AI and Carbon Credits: How the Emergence of AI Tools and Technologies Facilitates the Use of Carbon Credits
A carbon credit is a form of instrument or permit that represents one ton of carbon dioxide removed from the atmosphere. While these carbon credits can be purchased by an individual (think Taylor Swift or Floyd Mayweather, who may want…
Projects & Money Recap – Growth and Opportunity in 2023
2023 has just begun, but the energy industry conference circuit is well underway! In this episode of Powered by Foley, we are joined by partner Darin Lowder and Senior Counsel Natalie Neals who headed down to the Big Easy to…
Foley Assisted Client in Obtaining Favorable Resolution in Constitutional Trial Against the Reforms Made to the Electric Industry Law
On October 2021, President Andrés Manuel López Obrador submitted to the Mexican Congress a Bill to amend Articles 25, 27, and 28 of the Mexican Constitution related to energy matters. The purpose of the Bill, named the “Constitutional Bill,” was…