In the Headlines
September 19, 2025
Foreign Entity Rules Begin to Shape Clean Energy Deals
Law360
Tax attorney Elizabeth Crouse was quoted in a Law360 article about how new foreign entity of concern (FEOC) rules are reshaping clean energy deal diligence. The article explained that developers, engineering, procurement and construction (EPC) firms and their counterparties are prioritizing clean ownership structures and streamlined supply and licensing arrangements to preserve eligibility for Internal Revenue Code Sections 45Y, 48E and 45X credits following the enactment of FEOC restrictions as part of the July reconciliation bill. With guidance from the U.S. Department of the Treasury still pending, Ms. Crouse emphasized that clarity in agreements can carry transactions a long way.
"If I've got a nice, easy chain of ownership and relatively straightforward set of supply contracts and licenses, I can get to the point where I'm comfortable with our counterparty. That's a large part of the battle," she said.
READ: Foreign Entity Rules Begin to Shape Clean Energy Deals (Subscription required)
"If I've got a nice, easy chain of ownership and relatively straightforward set of supply contracts and licenses, I can get to the point where I'm comfortable with our counterparty. That's a large part of the battle," she said.
READ: Foreign Entity Rules Begin to Shape Clean Energy Deals (Subscription required)