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Texas Plan To Ax Renewables Standard Imperils Development

Law360, Dallas (April 16, 2015, 8:40 PM EDT) -- Renewable energy developers will have to reconfigure project financing and may shy away from placing new projects in Texas if state lawmakers approve a proposal to eliminate the state's renewable portfolio standard and shut down the market for trading renewable energy credits, lawyers say.

The Texas Senate this week passed S.B. 931 after bill sponsor Sen. Troy Fraser, R-Horseshoe Bay, said Texas has been so wildly successful in developing wind and solar power that it no longer needs a renewable energy requirement enshrined in state law. But critics of the bill say it sends the message that Texas is closed for business...

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