Pulse Taking Advantage of Tax Equity SHARIFF BARAKAT AKIN GUMP STRAUSS HAUER & FELD Overall, I’m a tax lawyer. I started out as a tax lawyer and I
Shariff Barakat, partner with Akin Gump Strauss Hauer & Feld, discusses the tax-equity and project finance implications of upcoming Biden administration legislation, including the proposed bipartisan infrastructure bill and related renewable energy matters.
practiced pure tax law for the first four years of my career.
CCBJ: Shariff, you recently joined Akin Gump. Tell us
related to renewables taxes and tax equity. I also support
Then I also became a corporate lawyer, primarily handling the commercial and corporate side of tax-equity financing transactions, but also other related transactions in the renewables and infrastructure space. At Akin Gump, I’m in the tax group and I’m the go-to person for all things
about your practice and what your primary focuses are.
the project finance and development group from the
Shariff Barakat: I work mainly on renewable power
the transactions. Again, for the most part, I focus on tax
projects, on the finance and tax side. In the United States, many technologies – and renewable energy projects in particular, such as solar and wind power plants – are subsidized by the federal government using tax credits.
tax side as well as the commercial and corporate side of equity, but I also handle some mergers and acquisitions and some debt financing as well. That’s where my practice is right now. But there are
There are relatively complex financing structures in
some growing areas of focus. Renewables are not going
place to efficiently monetize those tax credits, and
anywhere. They’re growing and they’re showing no signs
those structures are often referred to as “tax equity”. I
of deceleration. There is some really cool stuff on the
specialize in tax-equity financing, and for the last number
horizon as well. One of the things I’m really excited about
of years it’s been very solar and wind focused.
is carbon capture and the asset class and industry that CORPORATE COUNSEL BUSINESS JOURNAL
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