Powerline Connections

Section 45Q of the US tax code reduces the cost and risk to private capital of investing in carbon capture technology across a range of industries, including electric power generation, ethanol and fertilizer production, natural gas processing, refining, chemicals production and the manufacture of steel and cement.

Listen to our latest podcast episode to learn more about:

• Current carbon capture projects
• Tax credit under Section 45Q
• Tax equity investors and structures

Guest Speakers: FTI Consulting's Ken Ditzel, Senior Managing Director, and Fengrong Li, Managing Director, who are both in the Economic and Financial Consulting Practice

McDermott Speakers: Philip Tingle and Heather Cooper

Get the latest information on renewal energy special purpose acquisition companies (SPACs) in this episode of Powerline Connections. Key topics discussed:

1. SPAC opportunities for sponsors, investors and private companies 2. Advantages of being a sponsor, investor or private company 3. Factors SPACs consider when making investments 4. Applicable laws and regulations 5. SEC interest in IPOs conducted through SPACs

Guest Speaker: Nicole Neeman Brady, CEO and director of the renewable energy SPAC Sustainable Development Acquisition I Corp McDermott Speakers: Tom Conaghan and Carl Fleming

In this episode, our industry leaders discuss the aftermath of the energy crisis left by Texas Storm Uri, including potential outcomes for the future of the energy market in Texas, as well as some of the challenges developers and investors face—both short-term and medium-term.

Guest Speakers: Chris LeWand, Global Power and Renewables Leader, and RJ Arsenault, Managing Director in the Clean Energy Industry Practice, at FTI Consulting.

McDermott Speakers: Ed Zaelke and Carl Fleming

The energy market has undergone significant change in the past 12 months, with even more on the horizon. In this episode, we explore the policy outlook and priorities for the new Biden administration and the near-term impact on renewable sponsors and the investment community. We also consider the outlook on broader environmental and climate policies.

Guest Speaker: Greg Wetstone, president and CEO of ACORE

McDermott Speakers: Ed Zaelke and Christopher Gladbach

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. In this episode, we will discuss the legal and tax issues associated with renewable energy transactions, including structuring issues, regulatory considerations, unique issues associated with tax equity financing, and related tax issues.

McDermott Speakers: Ed Zaelke, Phil Tingle, Debra Harrison, Joel Hugenberger, Christopher Gladbach, and Carl Fleming

In this episode, we discuss offshore wind development challenges and how to manage multiple constituencies. Listen in to find out how different players, including private equity and infrastructure funds, can play a role in the offshore market. We also discuss the outlook of tax equity, the M&A landscape and the East Coast offshore development.

Guest Speakers: Jim McGinnis, managing director at PJ Solomon, and Salvo Vitale, country manager at US Wind McDermott Speakers: Ed Zaelke and Chris Gladbach

How has COVID-19 affected the turbine supple chain and how do OEMs plan to mitigate? This episode explores the risks to construction and how a renewed or prolonged shutdown will impact order books. We also discuss how the Production Tax Credit safe harbor extension has impacted the turbine business, and what we can expect in 2021. Guest Speaker: Ben Stafford, Rob Bienick and Matt Lynch from GE Renewable Energy McDermott Speakers: Ed Zaelke and Lloyd MacNeil

What will the next 10 years look like for US power markets? Listen in as we explore the current developments in power markets, electricity infrastructure and grid operations.

Guest Speaker: Rob Gramlich, founder and president of Grid Strategies LLC, former interim CEO of the American Wind Energy Association, and former FERC and PJM senior economist McDermott Speakers: Ed Zaelke and Jacob Hollinger

In this episode, we explore the trends and developments in today’s shifting investment landscape. We address how to find opportunities in power assets, advice for sponsors looking for capital solutions, near-term challenges in the market and how to mitigate risk, the challenges of investing in platforms versus projects, and more.

Guest Speaker: Andrew Ellenbogen of EIG Partners and Jeff Hunter of Apollo Global Management

McDermott Speakers: Ed Zaelke and Chris Gladbach

Learn more about the IRS's proposed rule to implement section 45Q of the IRC, the statutory provision that creates a tax credit for capturing and sequestering carbon dioxide. We discuss the tax equity market's likely response to this guidance, the carbon capture outlook, the socioeconomic impacts of CCUS project buildout and more.

Guest Speaker: Ken Ditzel, Managing Director at FTI Consulting

McDermott Speakers: Ed Zaelke, Phil Tingle, Heather Cooper, Christopher Gladbach and Jacob Hollinger