U.S. Renewable Firms to Seek Tax-Equity Partners, WSJ Reports

The U.S. administration will explain benefits of renewable energy investments to companies, including Exxon Mobil Corp. (XOM) and Walt Disney Co. (DIS), after the incentive program for the industry expired, the Wall Street Journal reported.

The Energy Department invited 79 executives from companies with large tax bills in the U.S. for a March 13 meeting, the newspaper said, citing a Feb. 6 letter from Richard Kauffman, a senior adviser to Energy Secretary Steven Chu.

Chu is scheduled to tell the companies about attractive rates of return and brand benefits that come with entering so- called tax-equity markets in renewable energy, the Journal said.

The Energy Department is seeking ways to promote investment by companies in industries that will create the clean energy jobs of the future, the Journal said, citing a department statement. The effort to help renewable energy companies claim more subsidies may draw criticism, the newspaper said.

To contact the reporter on this story: Firat Kayakiran in London at fkayakiran@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.