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from Municipal Sustainability & Energy Forum
October 16th 9PT – 10 MT – 11 CT – Noon ET
DEVELOPING RENEWABLE ENERGY PROJECTS IN OPPORTUNITY ZONES
Patrick Morand, Duane Morris LLP
Renewable energy projects typically are “project financed,” meaning that the project sponsor invests equity and raises debt on a nonrecourse basis where that debt is serviced from the cash flow generated by the project. Federal tax incentives such as the investment tax credit, the production tax credit, and accelerated depreciation may be available too; however, the project sponsor often needs to partner with a tax equity investor in order to take advantage of these incentives. The Opportunity Zone program, a federal incentive for equity capital investment in low-income and distressed communities, offers significant capital gains tax benefits for taxpayers who invest in projects and businesses in such areas, allowing them to delay, reduce and potentially eliminate capital gains taxes on appreciated assets or businesses located in Opportunity Zone investments. While these Opportunity Zone tax benefits have the potential to reduce the cost of capital for renewable energy projects, it may not always make sense to locate a project in an Opportunity Zone.
This webinar will explore the development of renewable energy projects in Opportunity Zones including some potential issues . . .
- An overview of the Opportunity Zone program and its tax incentives;
- A discussion of energy project finance, including tax equity investing;
- Ways Opportunity Zone funding may be combined with the tax incentives available for renewable energy projects;
- Potential pitfalls from combining such tax incentives for both the Opportunity Zone investor and the tax equity investor; and
- Potential issues that may arise related to the siting of renewable energy projects in Opportunity Zones.
About the Presenter:
Patrick Morand, Duane Morris LLP, 202-776-7874 email@example.com
Practice includes energy regulatory law and renewable energy development. He counsels energy clients including investor owned utilities, public power authorities, regional transmission organizations, renewable energy developers and financial institutions in a wide range of energy regulatory matters.
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