Increasing Margin For Renewable Energy Transactions
February 18, 2010, 5:27 PM EST
Law360, New York (February 18, 2010, 5:27 PM EST) -- The Treasury Department recently issued additional guidance (the "Guidance") that permits the owner of renewable energy property to qualify for a cash grant under section 1603 of the American Recovery and Reinvestment Act of 2009 (the "Cash Grant"), even if the property is leased to a tax-exempt entity such as a hospital or a municipality.
Prior to the issuance of the Guidance, it was widely believed that the Cash Grant would not be available for property leased to tax-exempt entities. As a result, renewable energy transactions...