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On September 18, 2024, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) (1) issued proposed regulations (the “Proposed Regulations”) providing guidance to taxpayers on the Alternative Fuel Vehicle Refueling Property Credit available under section 30C of the Internal Revenue Code of 1986, as amended (“30C Credit”) and (2) released Notice 2024-64 (the “Notice”)1 to correct certain technical issues related to mapping tools used to identify eligible census tracts for the 30C Credit.2

V&E Renewable Energy Update

September 25, 2024
Insight
Insight

On September 23, 2024, the State of California filed a new greenwashing salvo against an oil major by filing a plastics-related lawsuit in the San Francisco County Superior Court.

V&E ESG Update

September 24, 2024
Insight
Insight

On August 30, 2024, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued proposed regulations (the “Proposed Regulations”) providing additional guidance to taxpayers on the “Low-Income Communities Bonus” (“LICB”) available under section 48E(h) of the Internal Revenue Code of 1986, as amended.

V&E Renewable Energy Update

September 13, 2024
Insight
Insight

On August 14, 2024, the United States Court of Appeals for the District of Columbia Circuit (“D.C. Circuit”) released a redacted copy of its opinion in Sinclair Wyoming Refining Co. LLC v. EPA,1 in which the D.C. Circuit upended the U.S. Environmental Protection Agency’s (“EPA” or the “Agency”) overly restrictive treatment of the Renewable Fuel Standard (“RFS”) program’s small refinery exemption (“SRE”) and mostly vacated a series of denials issued by EPA in 2022 to companies petitioning for the SRE.

V&E Environmental Update

September 4, 2024
Insight
Insight

On May 29, 2024, the Treasury Department (the “Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations (REG-119283-23) (the “proposed regulations”) regarding the clean electricity production tax credit and the clean electricity investment tax credit provided by the Inflation Reduction Act of 2022 (the “IRA”)1 and available under new sections 45Y and 48E, respectively, of the Internal Revenue Code of 1986, as amended (the “Code”).

V&E Renewable Energy Update

June 4, 2024
Insight
Insight

On April 25, 2024, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (T.D. 9993) (the “Final Transfer Regulations”) regarding the transfer election for certain tax credits by eligible taxpayers available under section 6418 of the Internal Revenue Code of 1986, as amended (the “Code”).

V&E Renewable Energy Update

April 26, 2024
Insight
Insight

Last week, the Governor of New Mexico signed House Bill 41 (“HB 41”) into law, establishing the Clean Fuel Standard (“CFS”), which, similar to programs in California, Oregon, and Washington, focuses on reducing the carbon intensity of transportation fuels.

V&E Environmental Update

February 20, 2024
Event Recap
Event Recap
Partners Alan Alexander, Lauren Collins, Michael Joyce, Jorge Medina and Sean Moran and associate Hoo Ray delivered a webinar titled "RNG Tax Credits 101 and Credit Market Update".
January 31, 2024
Video
Insight
Insight

On June 14, 2023, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued proposed and temporary regulations regarding the transfer elections for certain tax credits available under section 6418 of the Internal Revenue Code of 1986, as amended (the “Code”).

V&E Renewable Energy Update

June 15, 2023
Insight
Insight

On February 13, 2023, the Department of Treasury (the “Treasury”), along with the Internal Revenue Service (the “Service”) and the Department of Energy (the “DOE”), issued Notice 2023-18 (the “Notice”), establishing a program under section 48C(e)(1) of the Internal Revenue Code of 1986, as amended (the “Code”), to allocate $10 billion of tax credits for qualifying investments in eligible advanced energy projects (the “Advanced Energy Project Credit”).

V&E Renewable Energy Update

February 14, 2023
Event Recap
Event Recap
Panelists from Vinson & Elkins, Riverstone and Evercore provided an overview of financing structure alternatives for private capital raises.
September 7, 2022
Video
Insight
Insight

On August 12, 2022 – a little over two weeks after the legislation was announced and five days after it passed the Senate – the House passed the historic Inflation Reduction Act of 2022 (the “Act”).

August 12, 2022