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Inflation Reduction Act
Performance Bonds – Call Me?
On-demand performance bonds are commonly used in international energy construction projects. They take the form of an undertaking by an issuing bank or financial institution, on behalf of an obligor, typically the contractor, to pay on demand a specific amount to a named beneficiary, typically the employer. Read the factors that an employer should consider when deciding whether to call a bond.
Department of Energy Seeks Public Input on Implementation of $760 Million Transmission Siting Grant Program
On January 13, 2023, the Department of Energy (“DOE”) launched its Transmission Siting and Economic Development (“TSED”) Grants program, which will provide $760 million in investment authorized by the Inflation Reduction Act (“IRA”) to support states and local communities in...
Treasury Department and IRS Release Guidance With Respect to the Sustainable Aviation Fuel Credit
On December 19, 2022, the Treasury Department and the IRS released Notice 2023-6 (the Notice), which provides guidance with respect to the credit for sustainable aviation fuel (SAF). The Inflation Reduction Act of 2022 (the IRA) enacted Section 40B of...
BOEM Proposes to Modify its Offshore Renewable Energy Regulations
On January 12, 2023, the U.S. Department of the Interior’s Bureau of Ocean Energy Management (“BOEM”) announced a proposed rule (the “Modernization Rule”) to modernize its regulations for renewable energy development on the U.S. Outer Continental Shelf (“OCS”). The announcement...
Co-location, Co-location, Co-location
UK grid constraints and delays to new grid connections are forcing sponsors to look at maximizing existing grid connections via BESS and renewables project co-location. Bracewell’s Ro Lazarovitch, Nicholas Neuberger and Sam Phillips outline the corporate structures being employed in co-located projects and their pros and cons to bankability.
New Protections for Pregnant and Nursing Workers in 2023
On December 29, 2022, President Biden signed into law the Pregnant Workers Fairness Act (PWFA) and the Providing Urgent Maternal Protections for Nursing Mothers Act (PUMP Act), expanding federal protections for both pregnant and nursing workers. Pregnant Workers Fairness Act...
IRS and Treasury Department Release Initial Guidance for Labor Requirements Under Inflation Reduction Act
On November 30, 2022, the IRS and the Treasury Department published Notice 2022-61 (the Notice) in the Federal Register. The Notice provides guidance regarding the prevailing wage requirements (the Prevailing Wage Requirements) and the apprenticeship requirements (the Apprenticeship Requirements and...
PRG Pulse 2022 Post-Election Analysis
CONTENTS The Big Picture Congressional Overview White House Response Congressional Oversight The Key Issues Clean Energy & IRA Implementation Hydrogen Offshore Wind and Solar Carbon Capture & Storage Critical Minerals Oil & Gas Permitting Reform and Energy Infrastructure Energy...
Federal Contractor COVID-19 Vaccination Requirements: Are Changes Coming?
Just over a year ago, President Biden issued an Executive Order requiring federal agencies to amend all contracts to mandate compliance with Safer Federal Workforce Task Force (the “Task Force”) guidance. The Task Force then issued guidance (the “November 2021...
East Coast Turns Focus to Offshore Wind Transmission
Many east coast states procuring offshore wind are now pivoting towards tackling the difficulties of interconnecting this significant resource. While some states, like New Jersey and New York, are working independently to address how to interconnect offshore wind projects efficiently...
Competing Considerations in Intercreditor Agreements for Project Finance, Mining Streams and Royalties
Bracewell’s Oliver Irwin and Darren Spalding co-authored the chapter “Competing Considerations in Intercreditor Agreements for Project Finance, Mining Streams and Royalties” in the 10th edition of International Comparative Legal Guide – Mining Law 2023: Practical Cross-Border Insights into Mining Law.
Fifth Circuit Condemns Texas Transmission ROFR Law on Constitutional Grounds
On August 30, 2022, the Fifth Circuit issued an opinion condemning a far-reaching Texas law on electric transmission right-of-first-refusal (“ROFR”). The decision concerns a 2019 Texas law that restricted the ability to build, own, or operate new transmissions lines to...
General Overview of the Inflation Reduction Act of 2022
On Tuesday, August 16, President Biden signed the Inflation Reduction Act of 2022 (the Act ) into law, which includes material changes to various sections of the Internal Revenue Code of 1986, as amended (the Code ). The following is...
California Sets Ambitious Offshore Wind Planning Goals
California’s updated planning goals for offshore wind: between 2 to 5 GW by 2030 and 25 GW by 2045. The California Energy Commission (“CEC”) formally adopted the foregoing planning goals pursuant to its obligations under Assembly Bill No. 525 (“AB...
New Saudi Companies Law 2022: Key Changes, and Next Steps for Companies in KSA
Background On 28 June 2022, the Saudi Cabinet of Ministers approved the New Companies Law, and it was published in the official gazette (Umm Al Qura newspaper) on 4 July 2022 pursuant to Royal Decree No. (M/132) dated 01/12/1443H (the...