Debtors in bankruptcy have broad authority to shed unfavorable contracts through the executory contract rejection process, subject to approval of the bankruptcy court. The Federal Energy Regulatory Commission (FERC), on the other hand, has exclusive jurisdiction over any request to modify or abrogate a “filed rate” under the Federal Power Act and the Natural Gas
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U.S. Senate Introduces the Inflation Reduction Act
On July 27, 2022, U.S. Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Joe Manchin (D-W.V.) introduced the Inflation Reduction Act of 2022, which proposes new and revised tax incentives for clean energy. The bill incorporates many, but not all, of the original proposals from last year’s Build Back Better Act.
Gov. Kathy Hochul Releases New York’s Third Competitive Offshore Wind RFP Solicitation
On July 27, 2022, New York Gov. Kathy Hochul announced the release of the state’s third offshore wind solicitation. With this request for proposals (RFP), New York looks to secure at least 2,000 MW of additional offshore wind power generation — expanding on New York’s already approximately 4,300 MW generation portfolio and further positioning
Webinar Replay: Offshore Wind Market Update and Supply-Chain Investment Opportunities
Did you miss our July 14, 2022 webinar?
McGuireWoods is organizing a series of webinars and events for utilities, private equity, independent sponsors, energy developers and other market participants pursuing energy investments in the North American offshore wind sector.
https://www.youtube.com/watch?v=8232g-tShoo
White House Launches Federal-State Offshore Wind Partnership to Supercharge Production by 2030
The White House announced a partnership on June 23, 2022, with 11 East Coast states to accelerate the growth of the United States’ offshore wind industry. The Biden administration offered the partnership to strengthen national energy security in a time of energy instability and simultaneously pursue a clean energy future.
President Biden Orders Tariff Exemption for Solar Panels
Yesterday, June 6, 2022, President Biden ordered various emergency measures to combat a shortage of solar modules and related components in the United States, including declaring a tariff exemption of up to two years on certain solar cells and modules exported from Cambodia, Malaysia, Thailand and Vietnam.
Crypto-Miners, Large Loads Subject to New Interim Interconnection Process in ERCOT
On March 25, 2022, the Electric Reliability Council of Texas (ERCOT) issued a notice regarding a new interim large load interconnection process that is effective immediately. The interim process applies to load interconnection requests — usually large, flexible loads with accelerated timelines, such as crypto-miners — that have not been modeled and studied in a
U.S. Department of Commerce Investigation of Solar Panel Imports Puts Solar Projects at Risk
On March 28, 2022, the U.S. Department of Commerce (DOC) announced it is investigating whether imports of solar panels assembled in Cambodia, Malaysia, Thailand and Vietnam are circumventing duties intended to limit imports of solar cells and panels from China, in violation of anti-dumping rules. The announcement of an investigation is already impacting current and
SEC Releases Proposed New Rules on Climate-Related Disclosures
On March 21, 2022, the U.S. Securities and Exchange Commission (SEC) issued proposed rules to significantly expand and standardize climate-related disclosures in SEC periodic reports and registration statements. According to the SEC, the purpose of these rules is to provide consistent, comparable, and reliable information to investors to enable them to make informed judgments about
Webinar Replay: Energy Private Equity and Independent Sponsors Virtual Roundtable Investments in Solar
Did you miss our March 29, 2022 webinar?
McGuireWoods is organizing a series of webinars and events for private equity and independent sponsors pursuing energy investments and capital providers interested in independent sponsor-led energy deals.
https://youtu.be/u-IZnSpbGoQ