Sponsors generally form a yieldco or a master limited partnership (MLP) because the structure of these permanent capital vehicles allows for the issuance of equity to investors at a lower cost of capital, providing a...more
Since the first wind deal utilizing a partnership in 2003 (also known as a “partnership flip,” a “pre-tax after-tax partnership,” or a “wind safe harbor partnership structure”), there has been a constant evolution of...more
In the past few years, many energy companies with investments in renewable energy projects have considered forming “yieldcos,” with five formations in 2013 and 2014. A yieldco is a growth-focused public company, typically...more
Ten practical considerations can help companies around the world tap the significant US capital market with IPOs. Investors in the United States continue the search for yield. Over the past several years, over 60...more