Energy and Environmental Project Finance Law and Taxation: New Investment Techniques provides practitioners with a useful and comprehensive discussion of energy and environmental project finance as it is developing and where it is going in light of new legal and tax rules. This is the first time that internationally recognized lawyers and economists share their knowledge, expertise, and insights in this important and growing industry. Energy and Environmental Project Finance Law and Taxation examines cutting edge techniques and analyses the recent tax and legal developments coming out of Washington, all of which are revolutionizing the investment in and financing of energy and environmental projects.Written for practitioners and laymen alike, Energy and Environmental Project Finance Law and Taxation arms the reader with crucial knowledge about structuring and financing conventional, renewable, green financing, and alternative energy projects. It addresses carbon financing, green power, and traditional and new technologies, including nuclear power, wind, photovoltaic, solar, geothermal, biomass, and the new generation of nuclear power. This book also addresses the risks involved in structuring and financing these new technologies; ways to hedge these risks; and how to monetize the tax credits available for renewable energy projects.

Introduction 1. The global challenge for energy and environmental investment 2. Creating and financing the next-generation carbon offset project : an application to carbon capture and storage 3. Carbon finance in America : a brief overview 4. Carbon credits as a currency for project finance 5. Developing markets for renewable energy certificates and their impact on project finance 6. Overview of the development and financing of renewable energy projects 7. Investing in a green world : does green mean profitable? 8. The "unique" challenges faced by project sponsors in monetizing offsets 9. An overview of transmission and interconnection issues affecting renewable energy projects 10. Project finance for small-scale installations : financing distributed generation 11. Energy savings performance contracts : legal and economic considerations 12. Contract force majeure under New York law 13. Failure is an option : bankruptcy risks and considerations in project finance transactions 14. Taking an interest in carbon : secured financing and the legal nature of carbon credits 15. Secured hedges in energy and environmental project finance 16. Multitiered financing structures and intercreditor relationships in renewable energy project financings 17. Use of lien-supported financial derivatives in project finance 18. Energy and environmental hedging and risk management : the risks and how they are managed and taxed in the United States 19. Credit tools used in structured energy transactions 20. Contract techniques for renewable resource power purchase agreement offtakers 21. Structured financing techniques in oil and gas project finance : future-flow securitizations, prepaids, volumetric production payments, and project finance collateralized debt obligations 22. Insurance strategies to protect project finance cash flow for domestic and international trade 23. The new generation of nuclear power 24. Project financing of cross-border pipelines : a study in comparative law, culture, and political risk 25. Financing renewable energy projects through U.S. tax credits 26. Monetization structures and issues for U.S. Tax Code Sections 45 and 48 projects 27. Tax equity financing for wind projects 28. The financing of photovoltaic projects 29. Innovation in tax credit structuring for solar energy projects 30. Geothermal power : an old technology comes of age 31. Private investment fund investment in cleantech, alternative energy and carbon products : legal and regulatory considerations 32. Conclusion Index