Sustainable Energy & Infrastructure

On January 19, 2021 the United States Court of Appeals for the District of Columbia Circuit (the “DC Circuit”) vacated the Affordable Clean Energy Rule (the “ACE Rule”), a policy instituted by the Environmental Protection Agency (the “EPA”) on June 19, 2019 that weakened emissions standards for power plants and empowered states to set their own energy standards.

This alert discusses the appointment of Satyam Khanna as the first senior policy advisor for climate and ESG at the SEC, where he will address climate and environmental, social, and governance issues.

Read about regulatory and other developments public companies need to consider as they prepare for fiscal year-end Securities and Exchange Commission filings and 2021 annual shareholder meetings.

After what felt like one of the longest election seasons in history, Washington is preparing to welcome the incoming administration of President-elect Joe Biden and Vice President-elect Kamala Harris. Meanwhile, Capitol Hill adjusts to a dramatic shift in power as Democrats achieved an election night stunner by winning both Senate run-off elections in Georgia on January 5, sending Rev. Raphael Warnock and Jon Ossoff to Washington and giving Democrats a 50-seat majority with the new incoming vice president casting any tie votes. In the House of Representatives, Republicans narrowed the Democrats’ majority in November but are still in the minority and Rep. Nancy Pelosi (D-CA) has been reelected to serve as Speaker of the House.

This advisory discusses the SEC’s final rules — effective November 2, 2020 — governing voting advice provided by proxy advisory firms such as Institutional Shareholders Service (ISS) and Glass Lewis.

This month, we are excited to feature XL Fleet, an industry leader in fleet electrification.

Read about the latest round of M&A activity in the energy and sustainability space.

This issue covers new Biden administration SEC requirements, a feature on XL Fleet, energy policy updates from DC, recent energy-related M&A activity, and upcoming industry events.

Don’t miss this month’s exciting virtual events, including a webinar detailing the COVID-19 pandemic’s impact on solar markets.

Public companies will be required to disclose climate risks and greenhouse gas emissions under President-elect Biden’s administration. The Securities and Exchange Commission (SEC) will institute rulemaking and guidance on the federal monitoring of environmental, social and governance (ESG) issues.

Late on December 21, 2020, the Senate debated and approved a COVID-19 relief package and omnibus spending bill for 2021 that included, deep in its 5,500-plus pages, tax extenders for a selection of renewables tax credits, including a one-year extension for the wind production tax credit ("ITC") and a two-year extension for the solar investment tax credit ("ITC"), as well as a five-year extension for offshore wind projects taking the ITC. The bill, which was earlier approved by the House, is expected to be signed by President Trump later this week.

This month, we are thrilled to feature Micatu, Incorporated [https://www.micatu.com/], a WAVE portfolio company that offers advanced sensor-based solutions for grid management.

This edition includes a feature on a USCIT ruling permitting implementation of the Trump administration’s bifacial solar tariffs; a story on Mintz client Micatu Inc.; recent M&A activity; an update from Washington; and a list of upcoming energy industry events

Don’t miss this month’s exciting virtual events, including a webinar on leveraging voter engagement for clean energy growth.

In a slip opinion issued on November 19, 2020, the United States Court of International Trade (“USCIT”) permitted the imposition of tariffs on bifacial solar panels, a victory for the Trump administration’s years-long effort to limit imports of foreign-made solar technologies.