The funds from the transaction will be used to pay off $950 million in notes due in 2023.
The fate of the controversial “BEAT” provision and other potentially damaging measures to renewable energy finance remains unclear.
The credit ratings agency says that despite moves by the Trump Administration, the increasing competitiveness and predictable output of renewable energy still makes it a good bet.
In this interview, ACORE CEO Greg Wetstone gives insights into the political mobilizations to stop the BEAT provision and other changes to the tax bill that could impact renewable energy investment.
The cash infusion comes at a time when community and commercial solar projects need the money, and more states are looking to expand such programs.
In this interview with pv magazine, Gregory Jenner of Stoel Rives explains how he expects the BEAT provision to affect solar and wind finance – and what can still be done about it.
The bill will now be reconciled with the House version, which does not contain the BEAT provision. SEIA says that it has four Senators who support “fixes”, but was not able to get a modification to the Senate bill.
Renewable energy trade groups have shown no indication that they will be able to stop a provision in the Senate tax bill which could curtail the benefit of wind and solar tax credits, as the legislation hurtles towards the deadline for the end of debate.
SEIA, ACORE and other groups are scrambling to get exemptions to the BEAT provision, a tax-regulation change that could make it difficult to monetize the ITC and PTC.
In this interview Keith Martin of Norton Rose Fulbright explains the details of the BEAT provision in the Senate tax bill, why it is there, and the threat it poses to monetization of the ITC.
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