Project Finance NewsWire

Publication February 2016

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

Cost of Capital: 2016 Outlook

More than 2,000 people listened in January as a group of project finance industry veterans talked about the current cost of capital in the tax equity, bank debt,...

February 8, 2016

How to Lose a Banker in 10 Minutes

by John Schuster with 32 Advisors, in Washington My experience as a lender in the project and structured finance space was that fewer than 10% of all projects...

February 8, 2016

Another Race to Start Construction: Practical Advice

The decision by Congress to extend expiring tax credits for renewable energy through 2019 for wind and 2021 for solar ― with phase outs ― could reduce the volume...

February 8, 2016

New Trends Shaping the 2016 Market

Two investment bankers, a consultant and a market analyst had a wide-ranging discussion at the Infocast power & money conference in New Orleans in January...

February 8, 2016

Multilateral Development Bank Update

Major developments in the agency lender market will emerge in 2016...

February 8, 2016

Central America: The Next Growth Market?

Investment in South America is drying up as demand for commodities weakens, but because Central America is a commodity importer rather than exporter, its prospects...

February 8, 2016

Traps for the Unwary: PUHCA

The Public Utility Holding Company Act — called PUHCA — is the “sleeper cell” of US energy regulations...

February 8, 2016

Environmental Update

A new law enacted in December should streamline should environmental review and permitting of large infrastructure projects...

February 8, 2016

In other news

Commercial PPAs

New commercial PPAs signed in 2015 reached 3,160 megawatts, more than double the year before.  Further growth is expected in 2016...

February 8, 2016

Consequences of Demand-Response Win

US independent generators lost an effort before the US Supreme Court in late January to prevent demand response companies from bidding into power auctions on the...

February 8, 2016

Treasury Cash Grant Update

Treasury cash grant cases continue to advance in the courts...

February 8, 2016

Mexico Hikes Renewable Electricity Targets

Mexican renewable electricity targets have increased. A new law in December sets renewable electricity targets at 25% by 2018, 30% by 2021 and 35% by 2025. Mexican...

February 8, 2016

H-S-R Thresholds Increase

H-S-R thresholds for advising the US government of planned acquisitions have been updated...

February 8, 2016

Multistate Companies Lose California Tax Refund Bid

Companies operating in multiple US states lost a bid to get back income taxes paid in California. Each US state taxes income earned in the state...

February 8, 2016

Tax Equity Deal Struck Down

A tax equity partnership sold state tax credits rather than allocated them to the tax equity partner, a US appeals court said in January.  The partnership had to...

February 8, 2016

Oregon BETC Overhang

Oregon is considering how to deal with an overhang of unused BETC tax credits and is also investigating potential wrongdoing in the program...

February 8, 2016

A Botched Inverted Lease

A botched inverted lease was given more time...

February 8, 2016

Utility Conversions into REITs

Conversions of US utilities into REITS may be less common after Congress acted in December. However, at least two conversions remain in the works in Texas...

February 8, 2016

MLP Used to Hold Site Leases

Master limited partnerships can be used to raise equity against portfolios of site leases for wind and solar projects and rooftop licenses for solar panels...

February 8, 2016

Refined Coal Transaction Lands in Court

A refinded coal transaction has landed in court after the IRS disallowed all the tax credits...

February 8, 2016

Hedges Used to Increase Leverage

Hedges are being used to increase leverage in renewable energy financings by protecting against volatility in revenue due to fluctuating wind velocity, solar...

February 8, 2016

Minor Memos

Minor Memos...

February 8, 2016


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