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Tax Reform May Slow Renewable Deals in U.S.

first_img FacebookTwitterLinkedInEmailPrint分享Bloomberg:PosiGen Inc. was close to finalizing terms on a $100 million financing deal. Then Congress passed President Donald Trump’s tax-reform plan.“We just lost $100 million in tax equity last week,” Thomas Neyhart, chief executive officer of the Louisiana rooftop solar installer, said in an interview.PosiGen is one of many companies that are suddenly facing a new financing reality because of the tax overhaul, especially clean-energy developers seeking tax-equity deals. At least $3 billion in potential deals are on hold for this type of financing, according to John Marciano, a Washington-based partner at law firm Akin Gump Strauss Hauer & Feld LLP. Some investors have exited or are sidelined, while others are considering repricing their transactions.Tax equity is a critical but esoteric source of renewables financing—totaling about $12.2 billion in 2016, according to Bloomberg New Energy Finance. There were about 35 tax-equity investors last year, according to JPMorgan Chase & Co. While solar and wind projects are typically eligible for federal tax credits, many don’t owe enough to the government to take full advantage. Instead, they turn to banks, insurance companies and some big technology firms that monetize the credits through tax-equity investments.Because the law reduced the corporate rate from 35 percent to 21 percent, companies will have fewer liabilities and therefore less need to find ways to reduce their bills. Further, there are provisions in the law that may constrain some multinational companies’ ability to do deals.The result: a market that’s poised to “tighten,” said John Eber, a Chicago-based managing director at JPMorgan, on a webinar Thursday hosted by law firm Norton Rose Fulbright LLP. Tax-equity investors that remain in the renewables market might “moderate” their contributions, he said. More: How Trump’s Tax Plan Made It Harder to Finance Renewables Tax Reform May Slow Renewable Deals in U.S.last_img read more

Selection of the Athletes of the Year in B&H Tonight

first_imgNezavisne Novine and RTV in B&H will organize tonight in Sarajevo the 13th event of “Selection of the athletes of the year in B&H 2013”.As in previous years, prizes will be awarded in 12 categories. The basketball player Mirza Teletović and the swimmer Ivana Ninković won last year’s awards.The first event was held in 2001, when Hasan Salihamidžić got the award for the best football player. So far, through this project more than 200 athletes, coaches, teams and sports employees have been awarded.Olympic Committee of B&H is the partner of this event, Ministry of Civil Affairs of B&H is the supporter, while the sponsor is the Presidency Member of B&H, Bakir Izetbegović.The selection of the athlete of the year in B&H will be held at the Hotel “Holiday” at 20:00, directly transmitted by BHT1.(Source: Fena)last_img read more

Great News: Damir Džumhur in the main Part of the US Open

first_img(Source: klix.ba) We will see the best B&H tennis player, Damir Džumhur, in the main part of the famous US Open for the second time in his career.Our best player was the first alternative for participation on the main tournament, and after the Frenchman Julien Benneteau canceled his participation, Damir ensured direct qualification on the last year’s Grand Slam tournament.This will be the second participation at the US Open for Damir and sixth at the Grand Slam tournaments.Mirza Bašić, Tomislav Brkić and Aldin Šetkić will also play in the qualifiers for the US Open so hopefully Džumhur won’t be the only B&H representative on this prestigious tournament.last_img