May 23, 2025, CHICAGO – The firm is delighted to announce release of the new version of Andrea Kramer’s book, Energy and Environmental Project Finance Law and Taxation: New Investment Techniques (2025). Originally published in 2010 by Oxford University Press, the title was picked up later by Matthew Bender®. The new publisher invited Andie to develop the title toward a new version, and committed to update the book annually. Andie was joined by her new co-author, Nicholas Mowbray, a Partner at BakerHostetler in Washington, D.C., in developing this 2025 version of the book.

Since 2010, most aspects of project finance law and taxation in the traditional and clean energy sectors have changed significantly; and multiple rounds of new legislation and regulation have rolled out in the United States, most recently with the passage of the Inflation Reduction Act in 2022. While managing toward an ever-changing political and economic environment at home, many American companies are also leaders in the worldwide energy and utilities marketplace and conduct business in this broader international context. The industry is becoming increasingly framed by national, regional and global climate activism; notably, decarbonization commitments having been made by 198 countries through the United Nations Framework Convention on Climate Change.

In developing the new version for publication, the book was rewritten from the ground up. It strives to provide balance, erudition and clarity during a time of exceptional economic and geopolitical change. It targets energy project/facility development leaders doing business in the United States, along with their professional advisors who must stay abreast of a wide array of issues in this industry’s foundational law and its heavily regulated practices. The new treatise offers a sweeping overview of the global clean energy landscape, while remaining firmly grounded in its core practical focus as a working guide.

Rewriting this book was a serious undertaking: we wrote it in 2024 and 2025 to properly reflect many new regulatory developments forthcoming from the U.S. Treasury and the IRS as they continued to release Inflation Reduction Act guidance memoranda, finalize law and embed many clean energy tax credit frameworks into the permanent Internal Revenue Code spanning the advent of the new year and across the change in U.S. Federal Administrations. The substance of the book was correct at its date of submission on February 24th, 2025, and the law stands largely unchanged at this time of publication today.

Regulation, taxation, and financing of energy projects have been integral to Andie Kramer’s legal practice for decades. Now, the significant increasing demands of production, industry, and commerce force a more careful analysis of how to plan for, fund, allocate, and incentivize new energy projects by both traditional and alternative means. Today, many observers agree that we need to pursue an “all of the above” U.S. energy strategy to meet and exceed increasing demands; but we also need to do so in ways that strengthen energy security, shore up relevant domestic supply chains, and expand the pool of available projects and their capitalization, while mitigating related risks.

Regulatory certainty is always critical in longer-term planning for major capital projects, and energy and environmental project developers typically seek and secure investments from a broad range of sources and by many means. Historically, project developers have relied upon the vital commitments and assistance of federal, state and local partners by applying for energy tax credits and incentives as and when possible. The industry has long looked to tax credits to provide certainty in the new project planning trajectory. As part of the mix, the Inflation Reduction Act sought to expand the number of available clean energy projects, addressed monetization and transfer of related tax credits, all underwritten and underscored by a range of resilient risk management and market trading mechanisms.

 The biggest clean energy investment commitment ever made by the United States; the Inflation Reduction Act also has become a lightning rod for partisanship in Washington. Accordingly, the authors and contributors navigated related considerations with great care. It can be stated, though, that the Act was conceived originally on a bipartisan basis—and that the early rollout of its associated tax credit frameworks benefitted scores of new development projects situated in communities where the energy industry is a foundational creator of local jobs. We are encouraged that the current discussions in Congress focus on careful preservations of related beneficial provisions where appropriate, and on positive restructuring where improvements can be made. We look forward to reviewing and relaying the substance of current deliberations in future months and years.

 In producing this book, the authors would like to thank the many chapter contributors: Mary Burke Baker, Glenn Benson, James Bordignon, Nathan Carrier, Won-Han Cheng, Darcie Christopher, Nathan Coco, Heather Cooper, Craig Enochs, Bergin Fisniku, Nathan Howe, France Beard Johnson, Rebecca Kim, Samuel Kramer, Kami LaBerge, Jason Lewis, Dirk Michels, Brian O’Hearne, Paul Pantano, Jr., Justin Pierce Berutich, Martha Pugh, Charles Purcell, Kyle Reiter, Renisha Ricks, Marc Reisler, Richard Saines, Michael Semes (dec’d), Claire Suni, Kunle Uthman, Nicola von Schroeter, Jeremy Weinstein, Aaron Williams and Lucas Witters. These contributors work at a cadre of fine professional services firms, companies and institutions, including BakerHostetler, Baker McKenzie, Elliott Davis, Euclid Transactional, Hailios, K&L Gates, KPMG, McDermott Will & Emery, Mintz, Loyola University's Quinlan School of Business, PJP Law PLLC, Pollination Law, Reed Smith, Sive Paget Riesel, The Law Offices of Jeremy Weinstein, and Winston & Strawn.

 At this pivotal time, the 2025 edition of Energy and Environmental Project Finance Law and Taxation: New Investment Techniques provides a valuable reference and is available in print, eBook and mobi at the LexisNexis® store Energy & Environmental Project Finance Law & Taxation. We hope that you enjoy the book, and we welcome professional feedback from industry veterans and observers alike.

Matthew Bender is a registered trademark of Matthew Bender & Company, Inc. and LexisNexis is a registered trademark of RELX Inc.

About ASKramer Law

ASKramer Law is a boutique Chicago firm that provides integrated legal counsel on regulatory, governance, commercial, and tax matters for clients in the finance and energy industries. For more information, please reach out to us at www.askramerlaw.com/contact. Kindly use the online form for media inquiries, and we will respond promptly.

Disclaimer 
This article contains general information and is not intended to serve as, and should not be taken to be, legal advice for any purpose. No reader should act or refrain from acting on the basis of information in this article, and before acting or not acting with respect to any matter addressed in this article readers should seek legal advice from counsel in the relevant jurisdiction. ASKramer Law LLC expressly disclaims any liability with respect to actions taken or not taken based on the content of this article. This material may be construed as attorney advertising.

ASKramer Law LLC’s founding member, Andie Kramer, focuses her practice on legal issues that arise in connection with financial products, energy, and digital assets. She is co-author of Financial Products: Taxation, Regulation, and Design (with the copyright held by CCH Incorporated and its affiliates), a treatise that is updated annually. She is co-author of Energy and Environmental Project Finance Law and Taxation: New Investment Techniques (with the copyright held by Matthew Bender®), a hands-on guide for energy project developers and their advisors, which is also updated annually. In addition, she regularly addresses related topical issues in articles posted on www.askramerlaw.com and elsewhere. Content in this article may overlap with topics covered in either or both of these books.