The world is embarking on what may be one of the greatest transformations since the Industrial Revolution. Over the next three
decades, countries and companies could spend tens of trillions of dollars to build a low carbon global economy.
As widely reported by the press, it appears that the Build Back Better Act is at an impasse following Senator Joe Manchin’s statements that he would not vote for the bill. Our prior coverage can be found here.
Some of the most notable SPAC mergers of 2021 focused on the energy transition, a hallmark of the globe’s long march to net-zero carbon emissions. In this podcast episode hosted by “Inside the ICE House” partner, Sarah Morgan, breaks down prospects for the 500+ SPACs still searching for a target before their trusts expire, with many hunting in the electric vehicle & energy transition space.
Early on December 11, 2021, the Senate Finance Committee released its version of the Build Back Better Act (the “Act”). While the Senate Finance Committee version of the Act largely replicates the clean energy proposals included in the version of the Act the House passed on November 19, 2021, it does include a few substantive revisions along with clean-up changes to the legislative text.
Early on November 19, 2021, the House passed H.R. 5376, the Build Back Better Act (the “Act”) along partisan lines. Passage came after the Congressional Budget Office released projections on the overall net cost of the package.
Faced with opposition from within his own party, President Biden last week unveiled a new, pared down framework for his “Build Back Better” agenda.
This research updates last year’s report entitled, “Clean Energy IPOs and SPAC Combinations” published in August of 2020.
In June 2021, the United States (“U.S.”) became the chair of the Biofuture Platform Initiative, an initiative of the Clean Energy Ministerial (the “Biofuture Platform”) for a two-year term, taking over the chair position from Brazil, which led the formation of the Biofuture Platform in 2016.
On June 29, 2021, the Internal Revenue Service (“IRS”) issued IRS Notice 2021-41 (the “Notice”), which extends the “Continuity Safe Harbor” for renewable energy projects that qualify for production tax credits under Section 45 of the Internal Revenue Code (“PTCs”) or investment tax credits under Section 48 of the Internal Revenue Code (“ITC”).
On May 19, 2021, the U.S. Environmental Protection Agency (“EPA”) issued a final Clean Air Act Outer Continental Shelf air permit to Vineyard Wind 1, LLC (“Vineyard Wind”), thereby clearing a major permitting hurdle in advance of commencing construction of an 800-megawatt wind farm that will be the nation’s first major offshore wind project.