By Casey Wooten | Bloomberg
Bipartisan U.S. legislation to allow renewable-energy companies to use a type of partnership structure popular with oil and gas drillers has been stalled by debate over a green-energy tax credit.
Master limited partnerships provide conventional energy companies with tax benefits and access to cheap capital. Houston-based oil and gas company Apache Petroleum Co., the first master limited partnership, was created by its parent company, the Houston-based Apache Corp. (APA), in 1981, according to a 1987 report by the Congress’ Joint Committee on Taxation.
Renewable energy projects, though, are ineligible to organize under the structure, Paul Gaynor, chief executive officer of Boston-based developer First Wind Holdings Inc., told Bloomberg BNA.
Also: Maximizing Wind and Solar
Sandia, ASU partner in energy research
If you’d like to discuss energy issues, contact Court Rich, Co-Chair of Rose Law Group’s Renewable Energy Department at crich@roselawgroup.com
