Philip Tingle is a partner in the law firm of McDermott Will & Emery LLP and is based in the Firm's Miami office. Phil’s national tax practice includes representing clients in restructuring, mergers and acquisitions, and other transactional energy related matters.
Phil’s practice focuses on representing energy companies, including utilities, independent power producers and financial institutions on a wide range of energy tax related matters. Phil speaks regularly on energy tax topics. Some of his more notable areas of practice include:
Renewable Energy – Phil has worked with renewable energy projects since the mid 1990s and has continued to provide advice regarding all aspects of renewable energy projects, including tax equity structures, refinancings, acquisitions and dispositions, restructurings and workouts. He has extensive experience regarding the production tax credit as it applies to wind, geothermal, biomass, hydro, waste, fuel cell and refined coal. Phil has also worked with new technologies and the application of renewable credits to such technology. Moreover, he has worked extensively with the investment tax credit for solar projects, including large solar facilities, retubing projects, and recently, many photovoltaic solar system projects. Phil has filed and received a number of private letter rulings on behalf of clients regarding the production tax credit. Recently, Phil has worked on the many aspects of the American Recovery and Reinvestment Act of 2009, including the tax implications of section 1603 grants, the State Energy Program Grants, and Energy Efficiency and Conservation Block Grants, the production tax credit conversion to an investment tax credit, the advanced energy credit, the sequestration credit, etc. In addition, Phil works extensively with the Global Renewable Energy Group both in the United States and internationally. Phil has authored a chapter entitled “The Monetization of Renewable Energy Project Section 45 Tax Attributes,” in Energy and Environmental Trading U.S. Law and Taxation, London: Cameron May 2008, and will release another chapter in 2009.
Mergers and Acquisitions – Phil works with many buyers and sellers of electric generation and gas facilities. This includes advice with respect to corporate, partnership and consolidated tax issues generally and those specifically related to electric generation businesses, including the treatment of power purchase agreements, tolling agreements, fuel agreements, renewable energy credit agreements and other environmental agreements.
Workouts and Restructurings – Phil has extensive experience with respect to the partnership and corporate workouts of power projects. This advice includes the workout of project debt, energy banks/tracking accounts, leases, abandonment and decommissioning.
Energy Contract Restructurings – Phil has extensive experience working on energy contract restructuring, including the modification, termination, sale, exchange and assumption of power purchase agreements, tolling agreements, fuel supply agreements, interconnect agreements, etc. Phil works closely with the Energy and Derivatives Markets Group.
Specific Energy Related Topics – Phil regularly works on contribution in aid of construction, normalization, grants and other energy related topics.
Areas of Technical Expertise – Phil is an expert in partnership taxation and works extensively on corporate and consolidated tax issues. Phil’s experience working with many utilities requires the command of the partnership, corporate and consolidated tax rules. Phil has also worked on several like kind exchanges with respect to gas fired, coal fired and nuclear generation facilities.
Phil was ranked as a leading tax lawyer in the 2008 and 2009 editions of Chambers USA: America’s Leading Lawyers for Business.
Before joining McDermott, Phil was a partner with a large international law firm. He also worked for a brief time at the accounting firm of KPMG, where he served clients in the energy industry.
Phil is licensed to practice in the state of Florida.
Education
- University of Florida Levin College of Law, LL.M., 1992
- University of Florida Levin College of Law, J.D. (with honors), 1990
- Tulane University, BSM, 1985
