Last week, Chadbourne lawyers Sue Cowell and Richard Waddington led a discussion on diligencing projects in light of the U.S. Government's Clean Power plan.
The US government is asking each state to come up with a plan to reduce carbon dioxide emissions from power plants. The amount varies by state. Overall, a 32% drop in carbon dioxide emissions compared to 2005 levels is required by 2030. Fossil fuel-fired power plants are being built, financed, and refinanced despite pending litigation, speculation about how the Clean Power Plan will fare with a new administration, and speculation about how, or even if, some states will implement the plan.
What questions should banks, tax equity investors and other project participants ask on diligence when financing potentially-affected projects?