Barclays-Sustainable Investing Weekly Spotlight：Silver lining in Treasurys guidance...-20250825

<p style="text-indent:28px"><span style="font-size: 14px;">In this week&#39;s Spotlight, we highlight the US Treasury&#39;sguidance on &quot;beginning of construction&quot; rules. We also detailupcoming Barclays Sustainable Investing events and recentnews flow.</span></p><p style="text-indent:28px"><span style="font-size: 14px;">US Treasury guidance provides clarity on tax credits&#39;eligibility</span></p><p style="text-indent:28px"><span style="font-size: 14px;">The US Treasury has released updated guidance on the &quot;beginning of construction&quot; rules forsolar and wind projects, following the enactment of the One Big Beautiful Bill Act (OBBBA) on 4July 2025. As we flagged in Taking stock of US power post-OBBB, the president&#39;s subsequentexecutive order calling for new guidance on elements of the safe harbour provision forrenewables introduced additional uncertainty. However, the updated guidance has been lessrestrictive than feared, providing welcome clarity for project developers and investors (NewTreasury guidance minimally disrupts solar).</span></p><p><br/></p>