US clarifies Foreign Entity of Concern rules
The US Department of Energy has clarified its guidance around what constitutes a Foreign Entity of Concern (FEOC) from the point of view of the Bipartisan Infrastructure Law (BIL) and the IRA. An entity is a FEOC if it is “owned by, controlled by, or subject to the jurisdiction or direction of a government of a foreign country that is a covered nation.” In this instance ownership is defined according to a 25% threshold. The FEOC restrictions will apply to battery components in 2024, then include suppliers of key battery raw materials, such as nickel and lithium, in 2025. So,...