Partner Casey August is quoted by E&E News discussing potential hurdles to participation in a Biden administration tax program through which the US Treasury Department will pay 30% of the cost of clean energy projects developed and owned by nonprofits. While addressing proposed regulations from the Treasury Department that restrict financial partnerships with other organizations, Casey noted that nonprofits such as pension funds do not usually own substantial physical property on which they can construct projects.
“It’s not part of the mission of the pension fund to own and operate energy facilities,” Casey said. “They would have to go it alone and own these facilities outright. And that’s just not something that they’re typically set up to do.”
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