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The energy business is changing rapidly. The worldwide shift toward clean, renewable energy and net-zero emissions, along with passage of the Inflation Reduction Act of 2022 (IRA), pose unique challenges for the energy sector but also offer new opportunities. BakerHostetler helps our clients navigate the evolving energy landscape and take advantage of opportunities, including tax incentives, to innovate, grow and continue meeting their business objectives.

We advise producers/manufacturers, investors and developers throughout the life cycle of a renewable energy asset or investment, from early-stage development through operational and transactional issues and monetization strategies (i.e., direct pay and one-time transfers of credits for cash). We have extensive experience with renewable energy projects, including those involving solar and wind energy, carbon sequestration, geothermal systems, clean fuel production, energy storage and green hydrogen.

  • Represent corporate buyers in tax credit purchase transactions, which involves drafting and negotiating a tax credit transfer agreement and providing tax, regulatory and environmental diligence (as needed).
  • Represent and advocate for a leading manufacturer of structural support and solar tracker systems for solar energy projects before the IRS and Treasury Department, including with respect to future guidance involving the IRA. Also advise the client regarding the structuring of commercial agreements with vendors and suppliers to help qualify for renewable energy credits under the IRA and with respect to monetization strategies, including direct pay elections and one-time sales of credits.
  • Advising a project sponsor on corporate, tax and securities regulation matters in its process of developing solar and energy storage facilities.
  • Advised a developer of a solar and battery storage facility by helping the client negotiate its EPCs and providing guidance to them to ensure the project would satisfy the investment tax credit requirements, in particular the wage and apprenticeship rules.
  • Represent both manufacturers of renewable energy properties and developers that want to qualify for the domestic content bonus credits.
  • Provided advice to a multinational manufacturer of blades and nacelles that is interested in qualifying for advanced manufacturing production credits under the IRA on what project developers and sponsors (i.e., the manufacturer’s clients) will request based on the IRA’s investment tax credit provisions.
  • Represent a multinational battery manufacturer with respect to the advanced manufacturing production credit and regularly advise the client on bespoke issues such as direct pay elections, statutory and regulatory interpretations of the relevant rules, the technical calculations required to claim the credit and monetizing its credits.
  • Advise an agricultural company that produces clean fuels and advocated on its behalf on Capitol Hill with respect to proposed changes to Section 45Z to help maximize the clean fuel credits and make them more advantageous for the client’s business.
  • Represent and advocate for an energy storage solution trade group before the IRS and Treasury Department. Advocacy includes guiding the trade group through the regulatory process and counseling its leaders by providing insights relating to future guidance.
  • Have defended many historic tax credit transactions, solar tax credit transactions and other tax credits and related transactions in IRS audits, at IRS appeals and in tax litigation.

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