Across the Board-Episode 6, will your assets be stranded?
Join Eric Klein and Paige Wright as they speak on “Energy Transition: Leveraging Intellectual Property.” The energy industry is experiencing massive transformation as incentives grow to invest in green technologies. This...more
On 22 February, the UK announced its intention to withdraw from the Energy Charter Treaty. According to Energy Security and Net Zero Minister Graham Stuart, the decision will support the UK’s transition to net zero and...more
State and local governments undertaking clean energy projects may be eligible for cash payments equal to the renewable electricity production tax credit or energy investment tax credit that would have been available to a...more
On May 31, 2023, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued Notice 2023-44 (the “Notice”), providing additional guidance on the program established under section...more
Battery storage capacity in the U.S. increased by 52% year-over-year, to 10.8 GW by the end of the first quarter, according to S&P Global. The added capacity represents a 7% increase from the end of 2022, according to an S&P...more
On Wednesday, May 17, 2023, the federal District Court for the District of Massachusetts granted summary judgment in favor of the United States Bureau of Ocean Energy Management (“BOEM”) and Vineyard Wind, and denied summary...more
The IRS is currently in the process of implementing the Inflation Reduction Act of 2022 (IRA), which addresses energy, tax and health policy. The IRA offers, among other incentives, tax credits to an array of organizations...more
The New York Climate Leadership and Community Protection Act (“CLCPA”) established ambitious targets to transform New York’s energy generation and efficiency. The CLCPA was signed into law in 2019 with goals to achieve 100%...more
The Inflation Reduction Act of 2022 (the “IRA”) added and modified certain tax credit and deduction provisions of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). One significant addition is that taxpayers...more
Today, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) published Notice 2022-61, providing guidance on the prevailing wage requirements under Section 45(b)(7)(A) and substantially similar provisions...more
The Inflation Reduction Act of 2022 (IRA) created many new and revised tax incentives to develop clean energy projects. Among many of these incentives, Congress included a requirement that taxpayers meet prevailing wage and...more
The Internal Revenue Service (IRS) issued guidance on the prevailing wage and apprenticeship requirements under the Inflation Reduction Act (IRA) by publishing Notice 2022-61 (the Notice) in the federal register today....more
Around the world, the journey to a net-zero economy has started. Smaller carbon footprints and cleaner energy sources are now a priority for energy companies, despite the imperative to meet near-term energy needs that is...more
In a letter to Secretary of the SEC Vanessa A. Countryman, a coalition of 18 Republican AGs, led by Montana AG Austin Knudsen, called on the Commission to extend the timeframe for a minimum of 60 days for public comment on...more
A technological error in the online comment portal on sec.gov has prevented the Securities and Exchange Commission (“SEC”) from receiving comments on twelve rule proposals (the “Affected Proposals”), according to a new SEC...more
Two forthcoming changes to U.S. law have the potential to significantly change how renewable energy projects are financed. Both changes are part of the Inflation Reduction Act signed into law by President Joe Biden on August...more
In a compromise move many months in the making, on August 7, 2022, the Senate passed a spending bill dubbed the Inflation Reduction Act of 2022, which contains provisions aimed at lowering drug prices and health care...more
On March 30, 2022, Carl Fleming and Emeka Chinwuba, partners in McDermott’s Energy and Project Finance Practice Group, hosted Dr. Abdelilah Chami, head of sustainability Northern & Central Africa at Enel Green Power, and Jay...more
The transition to renewable energy in Africa has been progressing impressively over the last decade, with many countries working to increase renewable energy capacity in recent years. Forecasts by the International Renewable...more
Increased energy demand as economies moved out of COVID-19 restrictions through 2021 helped oil & gas M&A continue its recovery in H2. Deal values jumped by 24 percent year-on-year to US$102.7 billion in 2021, while the...more
After a year of volatility, the oil & gas industry has stabilized and M&A activity has resumed - The oil & gas sector was hit especially hard in the first half of 2020, when oil & gas prices plummeted due to two main...more
The energy market has undergone significant change in the past 12 months, with even more on the horizon. Join us for a webinar series as we explore how these changes have shaped—and will continue to impact—the energy...more
In part one of a two-part series, K&L Gates’ Seattle partner and leader of the firm’s Renewable Energy Tax practice, Elizabeth Crouse, speaks with Hydrogen Rising co-host David Wochner about federal tax incentives for...more
The road to 100% renewable energy may be long and circuitous for a host of factors, not the least being that renewable sources likely will rely on existing infrastructure and fossil fuels for some time to come. Still, there...more
Recent M&A Activity: April 1, 2021: SunStreet, a subsidiary of Lennar (NYS: LEN), was acquired by Sunnova Energy (NYS: NOVA) for $354.5 million. Under the terms of the agreement and earnout agreement, Lennar will receive...more