Ercot Market Summit | Financing Projects in Ercot in the Post-IRA Era 2024 | McDermott Will & Emery | 14 February 2024 | Austin Marriott Downtown, 304 E Cesar Chavez St, Austin, TX 78701, USA

Uri fundamentally changed the project finance market in ERCOT, and the Inflation Reduction Act tax provisions are likely to have even more profound effects. The project terms that sponsors, equity investors, tax equity and lenders are seeking are extremely different now.

This panel will examine what makes a project financeable in the market today, including:
• Where is the capital flowing? How are IRA incentives helping various types of projects pencil out?
• What changes can be expected in the tax equity market?
• What impacts are the new transferability provisions in the Act having on financial structures?
• Where does the transferability market for tax equity stand today?
• Will financiers have an increased appetite for standalone storage projects?
• Will standalone storage projects in ERCOT have difficulties penciling out for construction loans?
• Are balance concentration issues affecting lender appetite?
• Are changes in credit structures being seen as a result of the changing tenor of offtake agreements?

2024 Speakers

MODERATOR:

Seth Doughty
Partner, McDermott

SPEAKERS:

Alex Bartlett
Director, MUFG – Project Finance, Americas

Carl Cho
Head of Underwriting, Power, Clean Energy and Chemicals, Citigroup

Aaron Klein
Managing Director, KeyBanc Capital Markets

Sondra Martinez
Managing Director, NORD/LB