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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

Decatur County officials caution storm damage victims of scammers

first_imgGreensburg, In. — The Decatur County Emergency Management Agency has issued an advisory that many scams are currently under investigation. Additionally, officials say there are NO government inspectors operating in the county.Always ask for identification and understand government agencies will not ask for payment or personal information over the phone. The same is true for utility companies.Officials say due to recent storm damage residents must remain vigilant and report suspicious activity by calling 812-66-CRIME.last_img

The Latest: Italy to ask UEFA to postpone Euros

first_img Share This StoryFacebookTwitteremailPrintLinkedinRedditLONDON (AP) — The Latest on the coronavirus outbreak’s effect on sports around the world (all times UK):5:15 p.m.The Italian soccer federation is planning to ask UEFA to postpone the European Championship. March 15, 2020 Associated Press Most people quickly recover from the global virus after experiencing only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia.___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 UEFA has a meeting planned on Tuesday to discuss the calendar. The virus outbreak has also tested the limits of soccer’s World Cup schedule.___1:15 p.m.Valencia’s Argentine defender Ezequiel Garay says that he has tested positive for the coronavirus, making him the first Spanish league player to become infected. center_img Federation president Gabriele Gravina tells Mediaset TV that Italian officials want Serie A to be completed by June 30.The Stadio Olimpico in Rome is slated to host the opening match of Euro 2020 on June 12, plus three other games of the tournament.Gravina says, “The hope is to finish by June 30. … And we’ll need to insert the Champions League and Europa League also. The deadline is June 30, then we’ll eventually see if we need to exceed that.”He adds, “We’ll propose to UEFA that they postpone the Euros.”Serie A is currently suspended until April 3, along with all other sports in Italy, the European epicenter of the virus outbreak. “I have tested positive for the coronavirus,” Garay wrote on a social media account Sunday. “I feel well and now the only thing to do is to follow the instructions of health officials to remain confined.” Valencia added in a statement that a total of five members of its staff and team have the new virus, without specifying if Garay is the only player. It says that all are in good health and confined at their homes.Garay, who is recovering from surgery after tearing a ligament in February, said in a message posted on Instagram that “it’s clear that 2020 is starting on the wrong foot.”On Saturday, fellow Spanish club Alavés said that two members of its coaching staff had the virus. It said they are in good health. The Spanish league has suspended play due to the pandemic. The Latest: Italy to ask UEFA to postpone Euroslast_img read more

WAICA Begins Confab Today

first_imgA two-day conference bringing together top executives of the West African Insurance Companies Association and the Association of Insurance in Liberia (WAICA) gets underway today, Monday, May 5 in Monrovia. Today’s gathering the 36th annual general meeting of WAICA in post-war Liberia.The WAICA is an International Association of insurance companies and institutions in English-speaking West Africa.  Today’s event intends to encourage the development of the insurance market in each member country on sound and technical basis. Such development is inclusive of the developing of the insuring public from the economic and social angle. In an interview with journalists at the venue of the conference in Monrovia, William B. Coker, the general-secretary and chief executive officer (CEO) of West Africa Insurance Association, based in Ghana said,  members and executive of WAICA have intended to encourage the promotion of insurance education in each member country, and to encourage existing educational institutions, such as universities to initiate courses and training programs on insurance and allied subjects as well as encouraging the exchange of business and personnel from company to company.According to him, WAICA wants to take reasonable steps aimed at reducing or eliminating economic waste arising from fires, accidents and other elemental causes.“WAICA would encourage the exchange of business among member companies in the sub region, and to enhance awareness of the impact, and benefits insurance in the socio- economic development of its people.”Mr. Coker disclosed that at the end of the Monrovia gathering, the members would be inducted into office a Liberian-business man, H. Momo Fortune, who will stir the affairs of Association for the incoming years. Mr. Fortune is the general manager, CEO of Mutual Benefits Assurance Company, and president of the Association of Insurer in Liberia (AIL).   According to Mr. Coker, during the two days deliberations, WAICA would discuss other steps which, are in the interest of members and which, has direct or indirect positive benefits on the lives of the communities within which members operate, thereby promoting the objectives and aspirations of the Association.The Association was established on May 4, 1973, in Accra Ghana with respect amongst all the insurers and re-insurers operating in the West African sub-region.Countries forming part of the Associations include The Gambia, Sierra Leone, Ghana, Nigeria and Liberia.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Co-founder of Pico Rivera dies

first_img He had a varied professional career. From 1947 to 1959 he worked as a baker and was active in the Bakers and Confectionary Workers Union. In 1959, he became a loan officer for a public finance corporation, beginning a 27-year career in the banking and finance industry In 1988, he became a probate referee for the state, and in 1996 he began a career as a real estate agent, a field he remained in until shortly before his death. His r?sum? of civic service also was long and varied. For more on this story, pick up tomorrow’s Whittier Daily News. 165Let’s talk business.Catch up on the business news closest to you with our daily newsletter. Something went wrong. Please try again.subscribeCongratulations! You’re all set! PICO RIVERA – Funeral services will be Friday and Saturday at St. Hilary’s Catholic Church for Gil De La Rosa, who served on a committee that helped the city of Pico Rivera incorporate and served on its City Council from 1982 to 1997. De La Rosa died at his home here Saturday. He was 80. Born in El Paso, Texas, on Dec. 31, 1926, De La Rosa moved to East Los Angeles with his family before his first birthday. He attended Roosevelt High School in Boyle Heights and was drafted by the U.S. Army shortly after his graduation in 1944. Upon his discharge in 1946, he moved to Pico Rivera and had lived in the city ever since. He furthered his education at East Los Angeles College, Chaffey College and Cal State Los Angeles.last_img read more