Swift Current Energy’s Post

Evolving U.S. energy policy is continuing to drive demand for legal advisors on infrastructure and clean energy deals, prompting partner hires by major law firms. Akin Gump Strauss Hauer & Feld said that it has hired energy transactions partner Vanessa Richelle Wilson from rival DLA Piper, where she was U.S. head of the firm's energy and natural resources sector team. Wilson joins Akin's projects and energy transition practice as a partner in Washington, D.C. Large law firms have been expanding the capacity to meet client demand in the energy sector, particularly to handle legal work spurred by the Biden administration's Inflation Reduction Act. The law includes tax credits and other provisions to promote cleaner domestic energy production and manufacturing. Read more: https://reut.rs/46Dd2bW

News: We worked with ClearGen LLC to facilitate the sale of their 2023 Solar and Storage Investment Tax Credits. From ClearGen’s CEO, Robert Howard: “ClearGen has previously monetized tax credits through partnerships and lease structures. Working with Crux, we were able to drive a transfer that was financially competitive with these traditional solutions, but much simpler to execute.” Our platform helped ClearGen navigate the transaction process and find a buyer for their tax credits quickly – allowing them to reinvest in their work driving the energy transition. Read more here: https://lnkd.in/eqRVSams

Working with Crux streamlined our tax credit approach, enabling ClearGen to quickly reinvest in sustainable energy initiatives. Learn more about our partnership in the full article!

Investment in new power generation in North America is expected to be $1.4 trillion cumulatively through 2033, with utility-scale solar, distributed solar, and onshore wind generation being the leading expected investments according to Wood Mackenzie’s 2024 North America Power Markets Strategic Planning Outlook. With the ever-increasing demand for capacity in the power grids, it is anticipated that more investors, including new types of investors enabled by alternative monetization methods for tax credits under the Inflation Reduction Act, will participate in tax equity structures to acquire tax benefits. Read the following article from my colleagues Jim Lantis, CPA and Kayla Schultz, CPA on common accounting pitfalls and key considerations surrounding tax equity buyouts.

📣 Read our latest article "What to know about IRA’s Direct Pay opportunity" 📰 Under the Inflation Reduction Act (IRA), Direct Pay allows non-taxpaying entities like state agencies, local/tribal governments, and nonprofits to benefit from federal tax credits for clean energy projects. Active through 2032, this program makes federal incentives accessible to those who typically don’t qualify. The State of New Mexico and its partners now have a unique opportunity to participate in renewable energy and sustainability initiatives to reduce carbon emissions and build climate resilience. 🌍 #CleanEnergy #DirectPay https://lnkd.in/gq6XYNuy

The latest iteration of my reporting following investments in U.S. manufacturing of clean energy and EV tech. Two years since the Inflation Reduction Act passed, more than $115 billion in private dollars are going to new factories on U.S. soil for facilities that could take advantage of the law's tax incentives. While there have been a handful of delays and cancellations, over half of the 20 largest projects are on schedule to be up and running in the next two years. For Canary Media Inc. https://lnkd.in/gEWzZexn

We’re proud to announce a groundbreaking tax equity partnership that marks a significant milestone in our commitment to expanding solar energy accessibility. In a first-of-its-kind move for Altus Power, we’re leveraging the flexibility introduced by the IRA to directly transfer a majority of the Investment Tax Credits from an existing partnership to other partners with substantial tax capacity. This innovative hybrid structure not only enhances our operational flexibility but also opens new avenues for collaboration and growth within the solar market. According to Head of Investment and Structured Finance, Abhi Parmar, "By incorporating the ability to transfer tax credits, we are unlocking new opportunities for value creation and expanding relationships with additional Altus Power partners who have interest in acquiring investment tax credits via direct transfer.” Read more here: https://lnkd.in/egr348ni

Black Bear Energy Inc., a Legence Company, and clean-energy finance company, Evergrow, were recently featured in Canary Media Inc. for their first successful solar tax credit transfer, opening doors for REITs within the #CommercialRealEstate industry. This is just the beginning for federal incentive monetization! Read the full article with the link. #WeAreLegence #RenewableEnergy #RooftopSolar 

Black Bear Energy Inc., a Legence Company, and clean-energy finance company, Evergrow, were recently featured in Canary Media Inc. for their first successful solar tax credit transfer, opening doors for REITs within the #CommercialRealEstate industry. This is just the beginning for federal incentive monetization! Read the full article with the link. #WeAreLegence #RenewableEnergy #RooftopSolar 

How does our Renewable Energy Tax Credit Fund work? Our fund structure allows for turnkey tax credit acquisitions with a short period between funding and tax credit allocations. This gives you the opportunity to leverage these recently enhanced renewable energy tax benefits under the Inflation Reduction Act. Key benefits to investors include: 👉 Dollar-for-dollar tax credits at a discount  👉 Offset tax liabilities generated from passive income (including past, current, and future tax liabilities)  👉 No additional tax on discounted tax credit  👉 And more Interested in learning more? Set up a call with Eric Kang, Director of Finance at Solariant, to get started. Put some time on Eric’s calendar here: https://lnkd.in/gjEN2wTJ #taxcredits #renewableenergy #inflationreductionact