Multiple Outlets Cite Tax Equity Telegraph Blog Post on Production Tax Credit
A blog post on Tax Equity Telegraph by Akin Gump tax partner David Burton was featured prominently in the SNL Financial article “Vestas: Tax-credit guidance should ‘stabilize the uncertainty’ in active wind market.”
The article appeared as a follow-up to the IRS’s recent guidance and clarification pertaining to the production tax credit (PTC) for wind developers and focuses on the reaction of Vestas Wind Systems, a manufacturer of wind turbines. The company’s CEO describes the PTC clarification as positive, and Burton agrees, writing in his post that new comments by an IRS official are “helpful clarifications” for the wind industry that provide “insight into the policy rationales for the rules.”
Burton also told Tax Notes Today that the IRS official’s remarks “will facilitate some transactions closing because investors will feel better knowing the IRS’s thought process.” Burton adds that while the new comments do not really change how this particular rule applies, “it’s good to know the policy behind it, which wasn’t apparent to many people based on the face of [it].”
Burton’s blog post, which was republished in its entirety in Power Finance & Risk and can be read by clicking here, proceeds to discuss in greater depth what the IRS official said.