Partner James Tynion spoke with Law360 for an article about the Biden-Harris administration’s proposed $2 trillion infrastructure plan. In the piece, he explained the implications of the tax credit expansions on transmission investment tax credits (ITC). "Up until now, the independent power producer business stops where the power goes into the local grid," Jim said. "If we can expand that to the transmission lines that brings [power] to the load, that will be the catalyst."
Jim also discussed the potential for direct pay for production tax credits (PTC) and ITC. "What it will do is permit developers to build these projects without the dependence on the cash-constrained tax equity markets," he said. "There will be a place for the tax equity bank investors . . . but it will encourage new corporate investors who are doing this, and the owner-operators of projects themselves."