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  Heather Cooper works on federal income tax matters, with a focus on energy tax issues. She represents clients in restructurings, mergers and acquisitions, and other transactional energy related matters. Heather's national practice includes advising on all aspects of renewable energy transactions such as solar and wind projects. She provides advice on tax equity structures, refinancings, acquisitions and dispositions, restructurings and workouts. Read Heather Cooper's full bio.

IRS Provides Relief on Begin Construction Continuity Requirements


By and on Jun 30, 2021
Posted In FERC, Project Development and Finance, Renewables, Tax

Yesterday, the Internal Revenue Service (IRS) issued Notice 2021-41 (the Notice), providing relief for continuity requirements for the investment tax credit (ITC) under Section 48 and the production tax credit (PTC) under Section 45. The applicable tax rate for the ITC and PTC is based on the year a project “begins construction.” Under existing IRS...

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Key Takeaways | The Energy Market in 2021: Legislative Update on Renewable Energy Tax Incentive


By and on May 20, 2021
Posted In Renewables, Tax

The energy market has undergone significant change in the past 12 months, with even more on the horizon. Our webinar series explores how these changes have shaped—and will continue to impact—the energy industry, including discussions of what’s to come. Our latest webinar featured McDermott partners Philip Tingle and Heather Cooper and Carol Wuerffel, Senior Director,...

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Why 2030 is the New 2050 after the Leaders Climate Summit and What President Biden’s Accelerated Transition to a Sustainable Economy Means for Renewables Developers, Investors and Corporates


By , , , , and on Apr 28, 2021
Posted In Project Development and Finance, Renewables, Tax, U.S. Congress

2030 is the new 2050 as US President Joe Biden has officially set a new goal for fighting climate change over the next decade in the United States. At the Leaders Climate Summit (the Summit) on Earth Day, he announced that America would aim to cut its greenhouse gas emissions at least 50% below its...

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Senate Democrats Propose Overhaul of Clean Energy Incentives


By , , , , and on Apr 23, 2021
Posted In Project Development and Finance, Renewables, Tax, U.S. Congress

US Senate Finance Committee Chairman Ron Wyden (D-OR) introduced the Clean Energy for America Act (the Act), along with two dozen Democratic co-sponsors, on April 21, 2021. The Act will likely be a starting point for the Biden administration tax proposals intended to limit carbon emissions. The Act would change the current system for incentives...

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The Energy Market in 2021: From Crisis to Opportunity | Tax Credit for Carbon Capture Products


By and on Apr 1, 2021
Posted In Environmental, Project Development and Finance, Tax

The energy market has undergone significant change in the past 12 months, with even more on the horizon. Our webinar series explores how these changes have shaped—and will continue to impact—the energy industry, including discussions of what’s to come. Our latest webinar featured FTI Consulting’s Ken Ditzel, Senior Managing Director and Fengrong Li, Managing Director,...

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US Senate Committee Introduces Clean Vehicle Charging Legislation


By , , and on Mar 29, 2021
Posted In Environmental, Power Markets, Project Development and Finance, Renewables, Tax, U.S. Congress

Earlier this week, a group of cross-party US senators introduced the Securing America’s Clean Fuels Infrastructure Act (the Act) to promote investments in clean vehicle infrastructure. The types of infrastructure supported by the legislation include electric vehicle charging stations and hydrogen refueling stations for fuel cell vehicles. The Act would enlarge the benefits of the...

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The Carbon Tax Checklist


By , and on Feb 12, 2021
Posted In Environmental, Natural Gas, Renewables, Tax, U.S. Congress

Many stakeholders have called for the United States to adopt a carbon tax. Such a tax could raise billions of dollars in annual revenue while simultaneously reducing greenhouse gas emissions. Several carbon tax proposals were introduced in the last Congress (2019-2020 term), and it is likely that several more will be introduced in the new...

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IRS Provides Relief for Offshore Wind and Federal Land Projects


By and on Jan 7, 2021
Posted In Power Markets, Project Development and Finance, Renewables, Tax, U.S. Congress

New guidance from the Internal Revenue Service (IRS) extends the Continuity Safe Harbor to 10 years for both offshore wind projects and projects on federal land. The relatively quick release of this guidance following enactment of the offshore wind investment tax credit (ITC) last week suggests strong support for these projects by Congress, the US...

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COVID-19 Stimulus Bill Includes Key Renewable Energy Tax Credits


By and on Dec 28, 2020
Posted In Power Markets, Project Development and Finance, Renewables, Tax, U.S. Congress

The US stimulus bill passed into law yesterday includes several key extensions and additions to the tax credits available for renewable energy. The bill had been agreed to by Congress early last week and was signed into law by the president last night. Access the full article here.

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Five Takeaways: Utility Acquisition of Renewable Projects – A Discussion of the Legal and Tax Issues Regarding Utilities, Developers and Tax Equity


By , , , , , and on Dec 4, 2020
Posted In Power Markets, Project Development and Finance, Renewables, Tax

Increasingly, utilities are replacing older generation fleets with more cost-effective generation technologies. Renewables are cost-competitive alternatives in this effort for a number of reasons, including the current tax incentives. A utility’s acquisition of a renewable asset presents many issues not otherwise present in a non-utility acquisition, particularly if the utility intends to include its investment...

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