CDFA Energy & Water Finance Update - May 19, 2020
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Features |
Oil Companies Have a New Lobbying Target During Pandemic — the Federal Reserve
Petroleum producers and their allies in Congress are pressing the Federal Reserve for easier terms on loans and other aid the bank is throwing as a life preserver to ailing U.S. companies. They are asking for more flexible deadlines and more forgiving conditions on money being offered to businesses struggling to stay afloat during the coronavirus pandemic and economic slump. The Fed will help buy corporate bonds for the first time in its history as part of its response to COVID-19.
Billions in Clean Energy Loans Go Unused as Coronavirus Ravages Economy
As the government struggles to keep businesses afloat through the pandemic, the Trump administration is sitting on about $43 billion in low-interest loans for clean energy projects, and critics are accusing the Energy Department of partisan opposition to disbursing the funds.
Coronavirus Crisis Hits Solar and Wind Energy Industry
The coronavirus crisis is not only battering the oil and gas industry. It's drying up capital and disrupting supply chains for businesses trying to move the country toward cleaner sources of energy. While President Trump has promised lifelines for airlines and oil companies struggling with a drastic decrease in demand as Americans remain under stay-at-home orders, there is little focus in Washington on economic relief for this sector.
Wichita, KS Secures Nearly $281M in Financing for Northwest Water Facility
The City of Wichita, with support from Burns & McDonnell, secured nearly $280.9 million in federal credit financing to fund the new Wichita Northwest Water Facility. The new water treatment plant will provide 120 million gallons per day to serve the City of Wichita, surrounding communities, industries and wholesale customers.
North Carolina Solar Industry Weathering the Pandemic Better Than Most States
The solar industry is weathering the pandemic better in North Carolina than in most states, data released by the Solar Energy Industries Association show. The sector's resilience here, home to the nation's second-most solar power, is owed in part to the dominance of large-scale projects, which take longer to develop and build than rooftop installations and are slower to react to the worsening economy.
Extension of the Construction Safe Harbor Period Expected for Wind, Solar Projects
In a letter addressed to Senator Chuck Grassley, Chairman of the Senate Committee on Finance, Treasury indicates its intention to revise the rules governing the deadline for construction of wind and solar projects to qualify for the production tax credit (PTC) and investment tax credit (ITC). The expected revised guidance would provide much needed relief to projects struggling with construction delays due to the COVID-19 pandemic.
Wind Is Now Leading Electrical Source In Iowa
Wind energy just became Iowa's largest single source of electricity, in large part thanks to the "father" of the wind energy production tax, U.S. Senator, Chuck Grassley. He authored the Wind Energy Incentives Act of 1993, bringing about the first-ever wind energy production tax credit. He also spearheaded the effort to include an environmentally responsible energy package. This brought nearly $15.5 billion in federal tax incentives to grow America's renewable energy sector.
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Energy Finance News |
Lexington, KY Budget Holds Increases Until COVID-19 Restrictions Lift
The Dispatch | May. 18 | Disaster Recovery & Relief | Water Finance | COVID-19
Sylvester, GA Receives $1.25M GEFA Water System Loan
Albany Herald | May. 18 | Revolving Loan Funds (RLFs) | Water Finance
U.S. Fossil Fuel Giants Set for a Coronavirus Bond Bailout Bonanza
The Guardian | May. 12 | Bond Finance | Disaster Recovery & Relief | Energy Finance | Federal | COVID-19
$400M Renewable Fuels Plant to Be Built in Jasper County, IL
Effingham Premier Broadcasting | May. 12 | Energy Finance | Opportunity Zones | Social Finance | Health
Energy Chief Said Administration Asked Fed to Expand Lending for Oil Companies
The Hill | May. 12 | Disaster Recovery & Relief | Energy Finance | Federal | Revolving Loan Funds (RLFs) | COVID-19
EPA Announces $16M Water Infrastructure Loan to Cortland, NY
EPA | May. 11 | Water Finance
The Financial and Social Struggles of Getting a Large Solar Project Financed
PV Magazine | May. 11 | Access to Capital | Energy Finance | Green Finance | Tax Credits
CIT Leads $217M Financing for Hillcrest Solar Project in Ohio
PR Newswire | May. 7 | Access to Capital | Energy Finance | Green Finance
Virginia's New Solar Project Development Laws Offer Opportunities and Potential Risks
JD Supra | May. 6 | Energy Finance | Opportunity Zones | State Finance Program | Tax Credits | State Energy Tax Credits | State Energy Tax Credits | State Tax Credit Programs
Committee-Approved Water Legislation Would Increase Federal Funding
The Bond Buyer | May. 6 | Bond Finance | Disaster Recovery & Relief | Legislative | Water Finance | COVID-19
Solar, Wind Industries Disrupted by COVID-19, Would Benefit from Legislative Action
Novogradac | May. 4 | Disaster Recovery & Relief | Energy Finance | Legislative | Tax Credits | COVID-19
Stonehill Secures Financing Facility for $100M in Property Assessed Clean Energy Lending
Business Wire | May. 4 | Disaster Recovery & Relief | Energy Finance | Housing Finance | Property Assessed Clean Energy (PACE) | COVID-19
Greenworks Lending Raises $150M from Nuveen
Real Estate Weekly | May. 1 | Access to Capital | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)
Los Angeles, CA Mixed-Use Development Lands C-PACE Financing
Multi-Housing News | Apr. 30 | Energy Finance | Housing Finance | Property Assessed Clean Energy (PACE)
Seattle Public Utilities Awarded $192M in WIFIA Funds
Water World | Apr. 29 | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance
Public Power Utilities Remains Stable but Will Likely Face Lower Liquidity and Coverage
Moody's Analytics | Apr. 28 | Bond Finance | Energy Finance
Senators Address Letter to Treasury to Extend Energy Tax Credit
Solar Industry | Apr. 27 | Energy Finance | Tax Credits | U.S. Dept. of Treasury
New Jersey Wind Council Releases Report on Plan for WIND Institute
The Daily Targum | Apr. 24 | Energy Finance | Infrastructure Finance | State Finance Program
EDA Awards Tulsa County, OK $3M Grant For Levee Improvements
Tulsa Public Radio | Apr. 23 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance
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Highlights from the Online Resource Database |
CDFA–Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing
Development Finance Toolbox | Energy Finance | Property Assessed Clean Energy (PACE)
This is the first webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing. Speakers included: Caleb Bell with Bricker & Eckler, Norma Horwitz with Northeast Ohio Public Energy Council, John Costlow with Sustainable Energy Fund, and Bali Kumar, Lean & Green Michigan, LLC .
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The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information visit CDFA.net or email info@cdfa.net
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Council of Development Finance Agencies
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(614) 705-1300
info@cdfa.net
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