June 29, 2019 / 12:11 AM / 19 days ago

WestRock's biomass facility can claim less than half of green-energy tax grant - Fed Circuit

Corrugated cardboard company WestRock Virginia Corp is entitled to less than half of the $86 million grant it requested for creating a biomass-burning energy plant at one of its paper mills because it kept most of the steam produced for its own industrial use, a federal appeals court held on Friday.

The U.S. Court of Appeals for the Federal Circuit affirmed the Treasury Department’s interpretation of so-called Section 1603 grants, which Congress created in 2009 to jumpstart the production of renewable energy sources. The law allowed producers to seek reimbursement of 30 percent of their cost to create a “qualifying” source.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2XxA0lx

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