SMP 137: Discussion on Transferability Guidance for the Inflation Reduction Act with Adam from Foley & Lardner

Episode Summary

In this episode of Solar Maverick Podcast,  Benoy speaks to Adam Schurle who is a Tax Partner with Foley & Lardner.  Adam speaks primarily about the transferability guidance provided by the IRS on the Inflation Reduction(“IRA”) and he also talks about the IRS guidance on Tax Credit Sales and Direct Cash Payments.  

Benoy Thanjan

Benoy Thanjan is the Founder and CEO of Reneu Energy and he is also an advisor for several solar startup companies.  He has extensive project origination, development, and financial experience in the renewable energy industry and in the environmental commodities market.  

This includes initial site evaluation, permitting, financing, sourcing equipment, and negotiating the long-term energy and environmental commodities off-take agreements. He manages due diligence processes on land, permitting, and utility interconnection and is in charge of financing and structuring through Note to Proceed (“NTP”) to Commercial Operation Date (“COD”). Benoy composes teams suitable for all project development and construction tasks. He is also involved in project planning and pipeline financial modeling. He has been part of all sides of the transaction and this allows him to provide unique perspectives and value. Benoy has extensive experience in financial engineering to make solar projects profitable.

Before founding Reneu Energy, he was the Environmental Commodities Trader in the Project Finance Group for SolarCity which merged with Tesla in 2016.  He originated SREC trades with buyers and co-developed their SREC monetization and hedging strategy with the senior management of Tesla to move into the east coast markets. 

Benoy was the Vice President at Vanguard Energy Partners which is a national solar installer where he focused on project finance solutions for commercial scale solar projects.  He also worked for Ridgewood Renewable Power, a private equity fund, where he analyzed potential investments in renewable energy projects and worked on maximizing the financial return of the projects in the portfolio.  Benoy also worked on the sale of all of the renewable energy projects in Ridgewood’s portfolio.  

He was in the Energy Structured Finance practice for Deloitte & Touche and in Financial Advisory Services practice at Ernst & Young.  Benoy received his first experience in Finance as an intern at D.E. Shaw & Co., which is a global investment firm with 37 billion dollars in investment capital. He has a MBA in Finance from Rutgers University and a BS in Finance and Economics from the Stern School of Business at New York University.  Benoy was an Alumni Scholar at the Stern School of Business.  

 

Adam Schurle

Adam Schurle is a Partner and business law attorney with Foley & Lardner LLP. Adam is based in the Milwaukee office where he is a member of the Tax Practice Group.

Adam counsels on a wide variety of federal and state tax matters, including issues relating to entity formation, corporate mergers and acquisitions, transactions involving partnerships, S corporations, limited liability companies and other pass-through entities, and tax aspects of compensation arrangements.

A significant portion of Adam’s practice is focused on tax advice for developers and financial institutions in wind, solar, hydroelectric, biomass and other renewable energy finance transactions. He helps these clients qualify for federal, state and local tax incentives and implement transaction structures that maximize the value of those incentives.  Adam also frequently advises clients with respect to tax incentives related to energy transition projects and investments, including Section 45Q carbon capture and sequestration credits.

 

Stay connected:

Benoy Thanjan

Website: www.reneuenergy.com

Email: [email protected]

LinkedIn: Benoy Thanjan

Facebook: Reneu Energy

 

Adam Schurle

Phone:  414.297.5158

Email:  [email protected]

Linkedin:  https://www.linkedin.com/in/adamschurle

Website:  https://www.foley.com/en

IRS Releases Guidance on Tax Credit Sales and Direct Cash Payments written by Adam

https://www.foley.com/en/insights/publications/2023/06/irs-guidance-tax-credit-sales-direct-cash-payments.

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This episode was produced and managed by Podcast Laundry.