Media Coverage
Source: Law360
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
02.06.24
Developers looking to accelerate the energy transition in the United States have focused on building clean energy projects on existing fossil fuel sites due to the many advantages, such as potential access to the grid. However, many roadblocks remain, according to a recent Law360 article.
“Interconnection rights are very valuable,” said Elina Teplinsky, Pillsbury’s Global Energy Industry leader. “When those contracts lapse, they are difficult to retain anew. Does the site have existing interconnection rights? Can you reuse those rights?”
While the Inflation Reduction Act’s tax benefits have made clean energy projects increasingly more attractive to developers, Teplinsky said that it is also critical to have state and local government support.
“Some of the states and localities also have operating incentives to try to allay some of the early risks on these sites that add to the benefits you get at the federal level,” she said. “Trying to do a project like that on a fully commercial basis without government support is very difficult because of the number of uncertainties involved, especially if you’re dealing with a heavily contaminated site.”
To read the full article, click here.