Public Market Alternatives for Energy Portfolios – Comparing Yieldcos to REITs, MLPs and Related Instruments

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Prior to the dramatic recent growth, and subsequent volatility, of Yieldcos, renewable energy financiers believed that their best hope of access to the public equity capital markets would be through Real Estate Investment Trusts (REITs) and/or Master Limited Partnerships (MLPs). Both of these structures are exempt from corporate level taxation, with their earnings taxed only at the investor level, but to date, neither vehicle is permitted unrestricted equity ownership of renewable generation assets. This presentation compares structures, tax treatment, legal issues and economics of Yieldcos, REITs and MLPs, and how they might compete for renewable energy issuers and investors if permitted to do so.

Please join us as industry-leading expert, Kenneth Kramer, managing director of Rushton Atlantic, shares his experience and insights into this essential field.