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Inflation Reduction Act
BOEM Finalizes Long-Awaited Overhaul of Offshore Oil and Gas Financial Assurance Regulations
The Bureau of Ocean Energy Management (BOEM) announced its finalization of a rule substantially revising the financial assurance requirements applicable to offshore oil and gas operations. The final rule revises criteria for determining whether oil, gas, and sulfur lessees, right-of-use...
Treasury and IRS Issue Proposed Regulations With Respect to Clean Hydrogen Credits Under Sections 45V and 48 of the Internal Revenue Code
On December 22, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released a notice of proposed rulemaking and notice of public hearing containing proposed regulations (Proposed Regulations) with respect to Internal Revenue Code of 1986, as...
Natural Resources: Renewable Energy
Bracewell’s Taylor Stuart , Joshua Robichaud and Catherine McCarthy recently contributed a chapter on renewable energy for the American Bar Association’s Recent Developments in Infrastructure and Regulated Industries 2023 . This chapter provides a high-level summary of notable developments in...
The Investment Tax Credit for Offshore Wind Projects: A Second Look at the Proposed Regulations Under Section 48
On November 22, 2023, the Internal Revenue Service and Treasury Department released proposed regulations (the Proposed Regulations) relating to the investment tax credit (the ITC) under Section 48 of the Internal Revenue Code of 1986, as amended (the Code). The...
Crystal Ball Gazing – Are There Calmer Waters in the Offshore Wind Sector in 2024?
2023 seems to have been a perfect storm for the offshore wind industry around the globe. Between permitting delays and grid connection hurdles, inflation and supply chain challenges all have led to some developers wanting to renegotiate their previously agreed...
Power Steering Saudi Bus Rapid Transit PPP
In anticipation of a wave of bus rapid transit (BRT) projects across Saudi Arabia, Bracewell's Andrej Kormuth, Tom Swarbrick and Bagya Nambron look at the key features of BRT systems from a PPP structuring perspective and the question of technological choice: battery and hydrogen as two competing ‘clean’ fuel technologies and the factors that may determine their bankability.
Offshore Wind Litigation: Court Denies Fishing Groups’ Challenge to Major Offshore Wind Project
Judge Indira Talwani of the US District Court for the District of Massachusetts has rejected another challenge to federal permits and approvals for the Vineyard Wind Project (Vineyard Wind or the Project). Vineyard Wind is under construction off the coast...
New California Offshore Wind Legislation Addresses Procurement and Permitting
The offshore wind industry now has California’s answer to a pressing concern—how might the state procure this generation resource? California Governor Gavin Newsom recently signed a suite of bills that create a mechanism for the state to procure offshore wind...
Current Year IRS Priority Guidance Plan Highlights Energy Transition
On September 29, 2023, the Internal Revenue Service (IRS) and the Department of the Treasury (Treasury) released their 2023–2024 Priority Guidance Plan (the Plan). The Plan describes the various guidance priorities of the IRS and Treasury for the period from...
ICLG: England & Wales Renewable Energy 2024
Bracewell’s Oliver Irwin, Robert Meade, Nicholas Neuberger and Adam Quigley authored the England & Wales Q&A analysis chapter in the fourth edition of International Comparative Legal Guides – Renewable Energy Laws and Regulations 2024.
ICLG: The Rise of Co-Located Renewable Projects 2024
Bracewell’s Oliver Irwin, Ro Lazarovitch and Nicholas Neuberger take a brief look at the current state of the co-location market and the corporate structuring solutions being adopted, as well as certain bankability considerations in the Expert Analysis chapter in the fourth edition of International Comparative Legal Guides – Renewable Energy Laws and Regulations 2024.
A Chattering of Starlings – African Holdcos
Bracewell’s Tom Jamieson and Gordon Stewart along with NK Naginlal Modi, power and infrastructure senior relationship manager at Mauritius Commercial Bank Limited, discuss the emergence and intricacies of a holdco financing in the African landscape, combining project finance, acquisition finance and structurally subordinated holdco financing.
IRS and Treasury Department Release Proposed Regulations for Labor Requirements Under Inflation Reduction Act
On August 29, 2023, [1] the IRS and Treasury Department released proposed regulations (the Proposed Regulations) regarding the prevailing wage requirements (the Prevailing Wage Requirements) and the apprenticeship requirements (the Apprenticeship Requirements and, together with the Prevailing Wage Requirements, the...
Driverless in Dubai: Autonomous Vehicle Regulation Advances in the United Arab Emirates
In line with Dubai’s Autonomous Transportation Strategy (the Strategy), on 14 April, 2023, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates (the UAE) and Ruler of Dubai, introduced legislation to provide a...
Voluntary Carbon Credits – A Free Market Solution
OVERVIEW In February of this year, the International Emissions Trading Association (“ IETA ”) published a comprehensive set of standardised agreements for the sale and purchase of voluntary carbon credits (“ VCCs ”). The international market for VCCs has been...