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Related Resources

Properly addressing the unique characteristics of energy and infrastructure (“E&I”) projects, enterprises, and underlying assets requires specific experience. Legal, accounting, and investment advisors recommend Marshall & Stevens to their clients for the independent valuations required to properly contemplate, execute, and report transactions.

Our practice is led by professionals with deep experience in structured finance transactions, tax incentives, financial reporting, and tax reporting of E&I investments.

See below and in “Related Resources” for our unique insights into the energy and infrastructure industry.

The Power Shift - How On-Site Energy Is Redefining Data Center Growth
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Energy and Power: The Defining Factor in Data Center Development
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Energy & Infrastructure Service Sheet
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Structured Finance Opinions

Asset intensive projects are most often financed with structured finance transactions (lease, sale leaseback, synthetic lease, tax equity investment, etc.) These finance vehicles are more complex than a traditional collateral debt agreement due to the specific valuation opinions necessary to meet US tax requirements. Our specialists provide the independent value opinions and consulting required to complete a well-documented tax beneficial financing transaction (compulsion, economic useful life, fair market value in continued use, limited use, residual value, etc.) including cost segregation analyses.

Dispute resolution and litigation support analyses are also provided, typically related to a disagreement over a residual value buyout, early buyout option, and shareholder suppression.

Energy was the unifying thread across both sessions of the September 2025 Marshall & Stevens Data Centers Forum. Panelists from across the data centers industry emphasized, power is no longer just an operational input, it is the single most important determinant of whether projects move forward. To learn more, download our article, Energy and Power: The Defining Factor in Data Center Development.

 

Energy

Our experience includes the valuation of conventional and renewable energy assets, projects, and enterprises involved with the generation, distribution, and transmission of energy. Project technology valued includes offshore and onshore wind, solar, renewable natural gas, geothermal, nuclear, and carbon capture, as well as battery storage, fuel cells, oil, gas, coal, and cogeneration facilities.

Infrastructure

Municipalities, utilities, infrastructure funds, public and private enterprises engage us because of the multi-disciplinary specialists we employ, the experience of our professionals and the client service focus of our firm.

Energy and Infrastructure Services include:

 

Energy & Infrastructure

We provide a broad portfolio of independent valuation services to traditional and renewable energy enterprises that generate, distribute, and transmit oil, gas, biofuel, and electricity as well as those who service these enterprises. Federal and state renewable energy incentives are responsible for a monumental increase in renewable energy project finance valuations.

Municipalities, utilities, infrastructure funds, public and private enterprises engage us because of the multi-disciplinary specialists we employ, the experience of our professionals, and the client service focus of our firm.

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How Marshall & Stevens can help with Energy and Infrastructure

Our team collaborates with our internal multi-disciplinary professionals to provide the value analyses and fresh independent opinions to fiduciaries, financing sources and investors for public and private company transactions.

Energy Facility Repowering
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Machinery & Equipment
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Solvency Opinions
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Frequently Asked Questions

Does Marshall & Stevens provide fairness opinions and solvency opinions?
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Marshall & Stevens has great experience providing independent fairness opinions and solvency opinions for public and private company transactions.

Does Marshall & Stevens provide valuations of solar, wind, BESS, RNG, and other renewable energy projects for sales of investment tax credits (ITC) and production tax credits (PTC)?
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Marshall & Stevens performs hundreds of valuations and cost segregation analyses every year for renewable energy project developers, sponsors, and investors.

Does Marshall & Stevens specialize in valuations for any specific industries?
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Marshall & Stevens has a large team of valuation professionals, all of which have industries where they have a particular expertise, including: agriculture, automotive, chemical, construction and engineering, consumer products, energy and infrastructure, entertainment and media, food and beverage, healthcare, hospitality and gaming, manufacturing and distribution, real estate, professional services, technology.

The Marshall & Stevens Difference

Marshall & Stevens provides Fairness and Solvency Opinions, valuation analyses, investigative accounting, and expert witness services to assist public and private clients with their important transactions and litigation matters.

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Client Highlights

Here are a few client success stories from public and private companies we’ve worked with

             

Energy & Infrastructure Contacts at Marshall & Stevens