The IRS issued Notice 2020-41 which provides some welcome relief to wind project developers struggling to construct and place their projects in service in the face of construction, interconnection and procurement delays stemming from the COVID-19 pandemic.
Kurt advises clients on tax, regulatory and commercial issues related to the development, financing, purchase and sale of energy projects.
Kurt’s energy tax experience includes advising renewable energy developers and investors to structure tax-driven vehicles that maximize benefits, including partnership flips, sale-leasebacks and inverted leases. He has worked with sponsors, tax-equity investors, lenders and syndicators to successfully close dozens of tax-equity financed transactions across the country to construct utility-scale solar, wind, biomass, co-generation and fuel-cell power plants, as well as large portfolios of rooftop, C&I and community solar projects.
Kurt’s energy regulatory experience extends to the electric, natural gas and oil pipeline industry. His electric experience includes negotiating and reviewing transmission service, interconnection and power purchase agreements; counseling clients on open access requirements, reliability rules, ISO/RTO compliance, qualifying facility certification and hydroelectric licensing; and seeking FERC approvals to sell power at market-based rates and for the sale and acquisition of electric generation and transmission assets. He has worked with investor-owned utilities, municipalities and independent power producers. Kurt’s oil and natural gas experience from his time working at the Federal Energy Regulatory Commission includes NGA section 4 and 5 filings, transportation rate design and regulatory litigation. This experience extends to MLPs, local distribution companies, producers and shippers.
Prior to joining Fredrikson & Byron, Kurt practiced energy tax and regulatory law at a national law firm in Washington, D.C., and as an attorney in the Offices of General Counsel and Administrative Law Judges at the Federal Energy Regulatory Commission. Prior to attending law school, Kurt taught English as a second language in Japan and Poland.
Kurt is admitted to practice in New York, the District of Columbia and Minnesota.
- Advised clients in obtaining and monetizing state and federal tax incentives through sale-lease backs, inverted leases, partnership flips and other tax-driven structures.
- Negotiated tax provisions in transaction documents, drafted tax opinions, reviewed financial models, appraisals and cost segregation reports.
- Counseled clients on valuation, tax ownership, placed in service, dual-use property, tax credit recapture, passive activity loss and partnership tax rules.
- Drafted and negotiated transaction documents, including ECCAs, MIPAs, LLCAs and Master Lease Agreements.
- Prepared and reviewed project-related contracts such as EPCs, PPAs, REC contracts, interconnection, development and O&M agreements.
- Performed due diligence and risk analysis on project finance and acquisition transactions.
- Managed the regulatory approval process related to the purchase, sale and financial restructuring of electric generation and transmission assets, including preparing and filing applications for mergers and acquisitions under Section 203 and market-based rates under Section 205.
- Represented clients in Section 206 disputes, hydroelectric licensing, QF and EWG certification, generator interconnection procedures and network upgrade reimbursement, and compliance with open access requirements and interlocking directorate rules.
- Represented independent power producers, transmission owners and utilities before state public utility commissions with respect to obtaining permits and approvals to build both traditional power and renewable energy projects, administrative litigation over generation and transmission facility siting and development, and disputes over state implementation of PURPA.
Articles & Presentations
May 11, 2020
By Kurt Rempe and Rao Konidena, President, Rakon Energy LLC
The Federal Energy Regulatory Commission (FERC) recently issued two orders denying rehearing and providing additional clarification of its new Minimum Offer Price Rule (MOPR)
May 8, 2020
The Office of Legislative Affairs at the Department of Treasury sent a short letter on May 7 to Senator Grassley, the Chairman of the Senate Committee on Finance, that it intends to extend the Continuity Safe Harbor under the existing Treasury guidance for the Production Tax Credit and Investment Tax Credit.
March 26, 2018
It was not long ago when Congress passed the Tax Cuts and Jobs Act (TCJA), dramatically rewriting the U.S. tax code and making sweeping changes impacting both businesses and individuals.
PUBLICATIONS & PRESENTATIONS
- Panelist, “Financing Challenges and Trends for Renewable Energy Projects,” Law Seminars International’s Eleventh Annual Conference on Renewable Energy in the Midwest, October 17, 2019
- Presenter, “Essential Project Development Contracts and the Challenge of Making Them Work in Harmony,” Law Seminar International’s 10th Annual Renewable Energy in the Midwest Conference, October 12, 2018
Honors & Education
- New York University School of Law, L.L.M., Taxation
- Chicago-Kent College of Law, J.D., with high honors, Order of the Coif
- University of Wisconsin-Madison, B.A.
- New York
- District of Columbia
- Minnesota, 2018
- Minnesota State Bar Association, North Star Lawyer, 2018