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James F. Duffy



Jim Duffy concentrates his practice on structuring and closing transactions involving federal income tax credits and other significant federal and state income tax incentives.

What do you focus on?

Renewable energy

I primarily work on financing matters that use tax credits and other tax incentives (including Production Tax Credits for wind and other forms of renewable energy and Energy Investment Tax Credits for solar and certain other forms of renewable energy) to develop renewable energy production facilities. I’ve represented numerous developers, investors, syndicators and lenders in structuring and closing these transactions, including representing the lead tax equity investor in the Nellis Air Force Base solar installation, the largest solar PV installation in the United States at the time.

Community development

I also assist clients as they use the new markets tax credits, historic rehabilitation tax credits, and low-income housing tax credits in housing and community development projects. Sometimes the matters I work on involve two or more of these financing tools at the same time.

Industry leadership

I am a frequent speaker on tax-oriented investment structures at renewable energy industry events, including conferences sponsored by the American Wind Energy Association (AWEA), the Solar Energy Industries Association (SEIA), the Environmental Business Council of New England (EBC), Power-Gen, the American Bar Association (ABA) and others.

I have served as the chair of the Equity Finance Committee of the Real Estate Section of the Boston Bar Association and as a member of the Real Estate Steering Committee of the Boston Bar Association.

What do you see on the horizon?

With the end of the Section 1603 grant in lieu of tax credit program, I see increased pressure on developers to find tax equity financing and, at least in the short term, until additional tax equity investors enter the market, an increasingly competitive market for developers to obtain tax equity on satisfactory terms.

Presentations

  • “Renewable Energy & Storage Project Tax Structuring and Strategies,” EUCI's Virtual Program, June 15, 2021
  • “Compliance REC Transactions from the Perspective of Sponsors, Project Developers, Merchant Generators, Utilities, and Marketers,” EUCI's Renewable Energy Credit (RECs) Market Dynamics, June 9, 2021
  • “Compliance REC Markets and the Impact of RPS Legislative & Policy Directives,” EUCI's Renewable Energy Credit (RECs) Market Dynamics, June 9, 2021
  • “Underwriting Challenges & (Trying to Predict) the Future,” Novogradac 2021 Spring Renewable Energy and Environmental Tax Credits Virtual Conference, May 21, 2021
  • “Renewable Energy Tax Credit Fundamentals & Monetization Online Workshop,” Novogradac 2021 Spring Renewable Energy and Environmental Tax Credits Virtual Conference Workshop, May 11, 2021
  • “Solar Development on Landfills, Impoundments, Brownfields and Utility Contaminated Sites,” EUCI Virtual Conference, January 28 - 29, 2021
  • “Renewable Energy Appraisals and Cost Segregation,” EUCI Virtual Symposium, November 18 - 19, 2020
  • “Project Finance Primer,” Novogradac 2020 Financing Renewable Energy Tax Credits Fall Virtual Conference, November 5 - 6, 2020 (Panelist)
  • “Novogradac ITC Commencement of Construction,” Novogradac Webinar, September 24, 2020
  • “Renewable Energy Project Tax Structuring and Strategies,” EUCI Renewable Energy Project Tax Structuring and Strategies, Online presentation, June 17, 2020
  • “EUCI Solar Project Development Financial, Legal & Technical Best Practices,” Webinar, May 12, 2020
  • “Case Study: Superfund Site Complexities,” EUCI Solar Project Development on Landfills/Brownfields/Utility Coal Combustion Residual Sites, Philadelphia, PA, December 3, 2019
  • “Renewable Energy Opportunity Zones,” EUCI Renewable Energy Opportunity Zones Conference, New Orleans, LA, November 13, 2019

Contact

James F. Duffy

Partner

Boston

Phone: 617-345-1129


Fax: 866-947-1697

Harvard Law School, J.D.

University of Rhode Island, B.A., summa cum laude

Massachusetts

Jim Duffy has received an AV Preeminent® Peer Review RatingTM from Martindale Hubbell®, the highest possible rating for ethics and legal ability.

Jim Duffy is a member of the American, Massachusetts, and Boston bar associations. Jim has served as the chair of the Equity Finance Committee of the Real Estate Section of the Boston Bar Association and as a member of the Real Estate Steering Committee of the Boston Bar Association. Jim currently serves on the Biomass Coordinating Committee of the American Council on Renewable Energy (ACORE) and the Distributed Wind Energy Association (DWEA) Board.

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