SEIA Finance and Tax Seminar

This year, the SEIA Finance and Tax Seminar presents four different formats for sessions during two days of intense, highly focused solar finance and tax education. These four formats include:

Long Sessions
Hour-long panel sessions present a diverse range of backgrounds and opinions on broad topics within the industry, giving attendees the chance to learn from a variety of sources. A Q&A period will provide attendees with the chance to have their questions directly addressed.

Short Sessions
In half-hour, quick-fire sessions, a single speaker will take attendees on a focused exploration of specific and timely topics affecting the solar industry and finance and tax communities right now.

Foundation Sessions
Speakers will provide concise, comprehensive introductions to the various tax equity structures used in the solar market today. Common challenges for developers and financiers will also be addressed.

Deep Dive Sessions
Speakers will offer more advanced reviews of transaction structures for professionals who are already comfortable with the basic mechanics of financing solar energy projects. Discussions will focus on the latest industry trends and project case studies.

Agenda

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[+] Show Description

Wednesday, February 27, 2013
Thursday, February 28, 2013

Wednesday, February 27, 2013

8:30 AM - 9:00 AM	Networking Breakfast
9:00 AM - 9:10 AM	Opening
9:10 AM - 10:10 AM	Tax Equity Financing What is the current status of the tax equity market for residential, commercial, and utility-scale solar projects? How are companies adjusting in order to finance projects without the 1603 Treasury Program? Confirmed speakers include: Keith Martin, Chadbourne & Parke, LLP (Moderator) Darren Van't Hof, U.S. Bancorp Mit Buchanan, J.P. Morgan Capital Corporation Jorge Iragorri, Mogran Stanley Jerry Smith, Credit Suisse, LLC Richard Moore, Washington Gas
10:10 AM - 10:40 AM	Leasing Structures and Valuation Not all leases are created equal. The benefits and burdens of ownership are just two criteria in a long checklist of issues to consider when crafting a true lease for tax purposes. In particular, valuation is often a topic that requires careful attention to detail. The speaker will walk through common mistakes and offer tips to help you avoid similar pitfalls. Speaker: John Gimigliano, KPMG, LLP
10:40 AM - 11:00 AM	Networking Break
11:00 AM - 11:20 AM	Foundations 1: Sale Leasebacks The speaker will introduce the fundamental characteristics of this transaction structure and identify common challenges for developers and financiers. Speaker: David Burton, Akin Gump, LLP
11:20 AM - 12:00 PM	Deep Dive 1: Sale Leasebacks The speaker will highlight the latest industry trends associated with this transaction structure and walk through specific project case studies.
12:00 PM - 12:30 PM	1603 Treasury Program Update The 1603 Treasury Program is one of the most successful government programs to support renewable energy deployment in the United States. Some developers may still be eligible to receive 1603 grants if they commenced project construction by December 2011 or satisfied the requirements of a five percent “safe harbor.” Grants Program Manager Ellen Neubauer will provide an update on the program and address recurring challenges that developers may encounter when submitting applications.
12:30 PM - 1:30 PM	Networking Lunch
1:30 PM - 2:30 PM	Doing Deals with Commercial Customers Large retailers and other businesses are among those most interested in going solar, yet they have a customer profile that is distinct from utilities and homeowners. The speaker panel will discuss recent trends in this market segment and identify the critical elements of a successful commercial solar deal. Confirmed speakers include: Craig Kline, Troutman Sanders, LLP Jack Harper, Wal-Mart Craig Robb, Zions Energy Link
2:30 PM - 3:30 PM	PPA Best Practices The solar industry continues to provide innovative new financing options to grow the market, but investors and developers should ensure new products comply with applicable tax laws and industry best practices. The speaker panel will provide their perspectives on what’s worked in the past, what is happening now, and where the industry is headed in the future. Confirmed Speakers include: Todd Glass, Wilson Sonsini Goodrich & Rosati, LLP Ori Franco, SunRun
3:30 PM - 3:50 PM	Networking Break
3:50 PM - 4:10 PM	Foundations 2: Partnerships The speaker will introduce the fundamental characteristics of this transaction structure and identify common challenges for developers and financiers. Speaker: Dan Luchsinger, Covington & Burling, LLP
4:10 PM - 4:50 PM	Deep Dive 2: Partnerships The speaker will highlight the latest industry trends associated with this transaction structure and walk through specific project case studies.
4:50 PM - 5:30 PM	Legal Update on Cases Involving Tax Credits and 1603 Grants The speaker will discuss the possible implications of recent cases like Historic Boardwalk for financing solar projects with tax credits, as well as review pending lawsuits related to 1603 grants. Speaker: David Lowman, Hunton & Williams LLP

Thursday, February 28, 2013

8:30 AM - 9:00 AM	Networking Breakfast
9:00 AM - 9:20 AM	Foundations 3: Inverted Leases The speaker will introduce the fundamental characteristics of this transaction structure and identify common challenges for developers and financiers.
9:20 AM - 10:00 AM	Deep Dive 3: Inverted Leases The speaker will highlight the latest industry trends associated with this transaction structure and walk through specific project case studies. Speaker: Tim Kemper, CohnReznick
10:00 AM - 10:30 AM	Understanding Your Accounting Challenges Solar assets can present unique accounting challenges for developers and investors. Experts will review recent trends and provide an introduction to proposed changes to lease accounting requirements. Speaker: Mark Hooley, CohnReznick
10:30 AM - 10:50 AM	Networking Break
10:50 AM - 11:50 AM	Private Equity Investment in the Solar Industry Private equity can be a great source of patient and smart capital for solar projects, developers, EPCs, and equipment companies. Find out what types of investments these prominent sponsors find attractive and not in the solar value chain and what trends they foresee for future private equity participation in the solar industry. Confirmed Speakers Include: Andy Jack, Covington & Burling, LLP Justin DeAngelis, Denham Capital
11:50 AM - 12:30 PM	Solar as a Public Welfare Investment All national banks are regulated by the U.S. Treasury’s Office of the Comptroller of the Currency and permitted to make certain investments in community and economic development projects designed primarily to promote the public welfare. In many cases, a solar energy project may be eligible as a qualified investment, which, in turn, could lower the cost of capital for a developer. The speaker will review the criteria for qualified projects under the public welfare investment authority and walk through the process for OCC approval. • Introduction by John Eber, JPMorgan Capital Corporation • Barry Wides, Office of the Comptroller of the Currency
12:30 PM - 1:30 PM	Networking Lunch
1:30 PM - 2:00 PM	SEIA Government Affairs Update from Washington Smart, stable federal policy is critical to the continued growth of the solar industry. Senior Government Affairs staff from SEIA will provide the latest policy and campaign intelligence from Washington.
2:00 PM - 3:00 PM	Debt Financing What is the availability of and what are the recent trends for debt financing of solar projects? Confirmed Speakers Include: Ed Feo, USRG Renewable Finance, Moderator Chris Diaz, Seminole Financial Services David Angel, Key Banc Thomas Plagemann, Santander U.S. Ron Klein, Rabobank Matthew Wright, National Cooperative Bank
3:00 PM - 4:00 PM	Speaking the Same Language on Cash Equity European pension funds, insurance companies, and other international institutional investors are emerging as important sources of cash equity for renewable energy projects. The speaker panel will explain how these players perceive investment opportunities in the U.S. and what projects will get their attention. Confirmed Speakers Include: Matthew Meares, Origis Energy James Scarrow, Scarrow Law Richard Dovere, Adamas Energy Investments, LLC Tim Short, Capital Dynamics Billy Lee, Bright Plain
4:00 PM - 4:20 PM	Networking Break
4:20 PM - 4:40 PM	The Rationale for At-Risk Rules At-risk rules in the U.S. tax code make it difficult for individuals and smaller corporations to use energy tax incentives. The speaker will review how these rules may apply to solar projects in a variety of financing scenarios. Speaker: Forrest Milder, Nixon Peabody, LLP
4:50 PM - 5:20 PM	Recapture Rules in a Post-Grant World The Section 48 Investment Tax Credit offers less flexibility than the 1603 Treasury Grant with respect to events that may trigger recapture of the credit in the five years after a solar project is placed in service. The speaker will common recapture scenarios and outline steps you can take to protect your tax credit. Speaker: John Eliason, Foley & Lardner, LLP
5:20 PM - 5:30 PM	Closing

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