Currents

Alfred Johnson, co‑founder and CEO of Crux, discusses key findings from Crux’s latest analysis of the clean energy finance market, including trends in tax credit transfers, tax equity, pricing and capital deployment amid policy and market headwinds. The conversation also highlights insights from Crux’s newly released 2025 Market Intelligence Report, which examines how clean energy and manufacturing markets performed over the past year: http://www.cruxclimate.com/reports/2025-market-intelligence-report

Stefan Reisinger, Norton Rose Fulbright partner, joins us to discuss the ruling by the United States Supreme Court to strike down the tariffs imposed by President Trump under the International Emergency Economic Powers Act.

Keith Martin, Norton Rose Fulbright partner, discusses newly issued IRS guidance on the FEOC rules, explaining how the Treasury clarified the calculation of prohibited foreign content and what uncertainty remains for developers and tax credit buyers. He also reviews proposed regulations for the 45Z clean fuel tax credit and how the changes may improve transferability and market participation.

Jim Spencer, CEO of Exus Renewables North America, discusses the company’s recent $400 million corporate debt raise and how rising demand is reshaping renewable development. He also outlines current grid, supply‑chain, and interconnection challenges and how developers are adapting with storage, gas and repowering strategies.

Rob Cirincione of Sunairio explains why traditional weather models miss the extreme events that drive grid risk and how high‑resolution, ensemble‑based forecasting can better predict impacts on power markets.