Tax Project Finance and Renewable Energy

Renewable Energy Tax Incentives.

The renewable energy industry in the US received a substantial boost in 2009 with the passage of the American Recovery and Reinvestment Act, which included a number of incentives to spur development of renewable energy projects.  Milbank's Tax Group attorneys active in the US renewable energy market have developed a strong expertise in the tax incentives available for renewable energy projects and related requirements, including such US tax incentives as the Production Tax Credits, Investment Tax Credits and the US Treasury Grant, and we represent many of the active tax equity investors in the industry. We have also closed several high-profile wind and solar projects in the US that benefited from the US Department of Energy Loan Guarantees.

Integrated Practice. Integrated Experience.

Our Tax Group works closely with attorneys in our Renewable Energy Group, one of the largest and most experienced practices among the world’s major law firms, to advise clients on the tax aspects of their renewable energy ventures. From the largest land-based wind project in the world to the largest solar farm in the world to pioneering hydropower projects in developing countries, the skills and scope of our Renewable Energy Practice is unmatched. We have represented some of the largest sponsors in the industry, as well as new developers in emerging renewable technologies, and handled some of the largest and highest-profile transactions in the sector. Building on the strength of our broader Project Finance Group, we have also represented project lenders, equity investors (including tax equity investors), equipment manufacturers/vendors and construction firms, as well as acquirers and sellers of renewable energy projects.

Global Experience. Global Expertise.

As evidence of our continuing prominence in the renewable energy field, we are consistently recognized as a leader in the renewable energy industry by league tables and industry publications. Many of the transactions we handle receive "Deal of the Year" honors. These accolades include being named "Top Legal Advisor for Clean Energy Project Finance" by Bloomberg New Energy Finance, receiving Chambers’ "Energy/Projects Award for Excellence" and numerous other awards and accolades.

Our firm-wide dedicated team of Renewable Energy attorneys based in each of our US offices, as well as in Beijing, Hong Kong, London, São Paulo, Singapore and Tokyo, has extensive experience in all aspects of the development, financing, acquisition and disposition of renewable energy projects. We assist clients in regulatory and permitting matters and negotiate commercial project documents, such as power purchase agreements, energy hedge agreements, renewable energy credit purchase agreements, equipment supply and warranty agreements, construction contracts and operations and maintenance agreements. We also provide counsel relating to structuring debt and equity financings, acquisition and disposition transactions and real estate matters. Additionally, we draw upon the experience of seasoned practitioners in practice areas in which we have a special expertise, such as Tax, Power and Energy Regulation, Real Estate, Financial Restructuring, Litigation & Arbitration, Environmental Regulation, Competition Law and Intellectual Property, to provide tailored legal solutions that match the needs of our clients.

Because of our strong legal skills and extensive knowledge of the renewable energy industries, we are widely seen as one of the leading practices in the wind energy industry.

We were one of the early entrants in the rapidly evolving solar energy sector and continue to be among the leading law firms active in that industry. We have represented developers, tax equity investors and lenders with respect to both photovoltaic and concentrated solar plant projects.

We have developed substantial experience in other renewable energy sectors, including geothermal, biomass, biofuels and hydroelectric.