Project Finance NewsWire | October 2018 | Norton Rose Fulbright

Project Finance NewsWire

The Project Finance NewsWire reports on new developments affecting the power sector, gas pipelines, LNG terminals, energy storage facilities, energy efficiency, biofuels, gasification, water, toll roads, bridges, ports, stadiums and other infrastructure. We report from the perspective of a law firm down in the trenches on deals. The NewsWire is published every other month and goes to 46,000 people.

In this issue

How safe are corporate PPAs?

Bankruptcy analysis has become a central part of due diligence on renewable and other power projects as project developers rely more frequently on corporate PPAs as a source of revenue for their projects.

October 23, 2018

California settles CCA exit charges

The California Public Utilities Commission issued a highly-anticipated decision in October revising the formula for calculating exit fees that the three investor-owned utilities in California can charge.

October 23, 2018

Representations and warranties insurance

A representations and warranties insurance policy, or RWI, is insurance that covers the losses that arise from a breach by the seller of its representations and warranties in an acquisition agreement.

October 23, 2018

Special US tax rate for pass-through income

Individuals have to pay US income taxes on only roughly 80% of the income they receive from partnerships, S corporations and other pass-through entities.

October 23, 2018

Financing storage and EV infrastructure

Battery storage, electric vehicle infrastructure, community solar, micro-grids and fuel cells are emerging markets on which lenders like Investec are focused as potential growth areas.

October 23, 2018

PACE securitizations

Securitizations are becoming a more common technique to raise low-cost debt for energy projects.

October 23, 2018

Construction stopped despite having permits

Two courts stopped construction of natural gas pipelines in the last few months due to problems with permits.

October 23, 2018

California update

Two new laws enacted in September will have a major effect on the California energy market.

October 23, 2018

Environmental update

California became one of two US states in September to require all electricity supplied in the state to come from renewable or other carbon-free sources.

October 23, 2018

In other news

China tariffs set to ramp up

US tariffs on many Chinese imports will increase automatically on January 1, unless any meeting between the US and Chinese presidents on the sidelines of the G-20 summit in Argentina in late November.

October 23, 2018

Solar fair market values

Reported fair market values for solar projects are continuing to decline.

October 23, 2018

Flood of US wind projects ahead

A flood of US wind projects should come to market over the next two years.

October 23, 2018

Solar transactions land in court

Three solar transactions landed in court.

October 23, 2018

Zero emissions credits

Zero emissions credits were upheld — again.

October 23, 2018

Cryptocurrency issues

Cryptocurrency use risks triggering unwanted tax consequences.

October 23, 2018

Repatriated profits go to share buybacks

Repatriated profits are being used mainly for share buybacks and debt repayments.

October 23, 2018

Landfill gas tax credits disallowed

Landfill gas tax credits were denied.

October 23, 2018

Prosecuting foreigners under the FCPA

The Foreign Corrupt Practices Act may not be used to prosecute an individual with no ties to the United States.

October 23, 2018


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