Thomas R. Burton Jason Altieri Brady Berg Evan M. Bienstock Faith L. Charles Ralph A. Child Daniel I. DeWolf David P. Dutil Susan L. Foster Jeremy B. Hayden Richard A. Kanoff Patrick J. Kealy Jonathan L. Kravetz Carl A. Kukkonen III David J. Leiter David L. O’Connor Chuck A. Samuels Paul J. Scapicchio Gabriel Schnitzler Sahir C. Surmeli Stanley A. Twarog Michael D. Van Loy Peter Zlotnick
|
In the October edition of Mintz Levin’s Energy and Clean Tech Connections, we’ve gathered recent information from a wide variety of sources in an effort to keep you abreast of what’s new in the world of clean energy. We draw your attention to the latest industry developments, news from Beacon Hill to Capitol Hill, grant opportunities, and upcoming events. On the legislative front this month, after a long battle between the House and the Senate, Congress finally renewed $18 billion in clean energy tax credits as part of an economic bailout bill that also provided $700 billion to the ailing financial markets. The tax credits, which were extended for eight years beginning in 2009, will provide tax incentives to individuals and businesses to invest in solar and wind energy through both small residential and large-scale commercial projects. Unlike the current program, the new one will allow utilities to take advantage of the tax credits. In addition, it will provide tax credits for plants that are already generating electricity and for drivers buying electric cars, and it will eliminate the cap on tax credits for solar power. More information about the bill can be found here. This month, Mintz Levin would like to congratulate client Rockport Capital Partners for successfully completing its investment in Wind Power Holdings, the parent company of Northern Power. The investment was part of a $56 million Series A financing to support Northern Power’s development of wind turbines (more info). We hope that you enjoy this month’s edition of the newsletter. In This Edition Lawmakers Approve Energy Tax Credits, Bailout Greentech Media - October 3, 2008 Cleantech Investment Breaks All-Time Record Cleantech Group - October 1, 2008 RGGI Generates $38.58 Million in Carbon-Permit Sale Greentech Media - September 29, 2008 Northern Power Parent Wind Power Holdings LLC Raises in Excess of $50 Million International Business Times - September 25, 2008 Roger Saillant Joins CellEra Board of Directors Forbes.com - October 20, 2008 Solar Works, Inc. and SolarWrights, Inc. Join Forces to Create Largest Solar Integration Company in Northeast Renewable Energy World - October 15, 2008 Ormat Closes US $100 Million Line of Credit Renewable Energy World - October 9, 2008 Green Technology Still a Draw The Boston Globe - October 8, 2008 Silver Spring Grabs $75 Million Greentech Media - October 7, 2008 Konarka Claims 1 GW in Organic PV Production Greentech Media - October 7, 2008 Glitnir Projects $29 Billion US Geothermal Energy Sales Cleantech Group - October 6, 2008 United States to Attract More Foreign Greentech Investments Greentech Media - October 6, 2008 Accelerated Business Response to Climate Change Drives Cleantech Investment Ernst & Young - October 2, 2008 Google Proposes $4.4 Trillion US Energy Plan Greentech Media - October 1, 2008 Solar Power Partners Raises US $100 Million Renewable Energy World - September 30, 2008 Landmark New Report Says Emerging Green Economy Could Create Tens of Millions of New “Green Jobs” United Nations Environment Programme - September 24, 2008 GridPoint Gets $120 Million, Buys V2Green Greentech Media - September 23, 2008 Investors Bullish on 2009 Greentech Deals Greentech Media - September 23, 2008 Algae Biofuel Investments Explode Greentech Media - September 18, 2008 GE Energy Invests More Than $100 Million to Launch 2.5x1 Wind Turbine and Services, Expands Manufacturing Operations in Europe Renewable Energy World - October 14, 2008 Doom and Gloom or Coming Boom? Renewable Energy World - October 14, 2008 Renault, EDF Go Electric in France Greentech Media - October 9, 2008 Schott Solar Shoots Down IPO Greentech Media - October 8, 2008 EnergyMixx and Deutsche Bank Sign Finance Deal Renewable Energy World - October 7, 2008 UN Calls for Review on Biofuel Subsidies Associated Press - October 7, 2008 Vattenfall Acquires AMEC Wind Energy Renewable Energy World - October 7, 2008 German Test Plant May Lead to Clean Coal Power The Chicago Tribune - October 6, 2008 Department of Energy and Climate Change Created in United Kingdom Renewable Energy World - October 6, 2008 Marine Power Heats up in Scotland Cleantech Group - October 1, 2008 Spain Approves 500 MW for Solar Greentech Media - September 26, 2008 Iberdrola Completes Acquisition of Energy East Renewable Energy World - September 18, 2008 DOE Announces Additional Steps in Developing Sustainable Biofuels Industry Press Release, US Department of Energy - October 7, 2008 DOE Funds 21 Research, Development, and Demonstration Projects for up to $78 Million to Promote Enhanced Geothermal Systems Press Release, US Department of Energy - October 6, 2008 DOE to Grant US $17.6 Million for Solar PV Development Renewable Energy World - October 1, 2008 DOE Announces First Marine Energy Grants Renewable Energy World - September 23, 2008 New Jersey Governor Plans to Triple Offshore Wind Goal Press Release, New Jersey Office of the Governor - October 6, 2008 New York at Forefront of Testing Turbines to Generate Tidal Power The Boston Globe - September 21, 2008 DOE Funds 15 New Projects to Develop Solar Power Storage and Heat Transfer Projects for up to $67.6 Million Press Release, US Department of Energy - September 19, 2008 DOE Selects Projects for up to $7.3 Million for R&D Clean Technology Water Power Projects Press Release, US Department of Energy - September 18, 2008 Connecticut Clean Energy Fund Advances Five Renewable Energy Projects Renewable Energy World - September 16, 2008 Mintz Levin Represents Rockport Capital Partners in $37 Million Series A Placement in Northern Power Parent Wind Power Holdings LLC Press Release, Mintz Levin - October 8, 2008 Mintz Levin’s Summer Associate Program Ranks in Top 10 in Annual American Lawyer Survey Press Release, Mintz Levin - October 10, 2008 Mintz Levin Expands London Office to Accommodate Growing Corporate and Intellectual Property Practice Press Release, Mintz Levin - September 18, 2008 Quin D. Dodd, Former Chief of Staff to the US Consumer Product Safety Commission, Joins Mintz Levin Press Release, Mintz Levin - October 6, 2008 Massachusetts New Data Security Regulations Effective January 1, 2009 Privacy and Security Alert, Mintz Levin - October 2, 2008 Eight Mintz Levin Attorneys Named New York Super Lawyers Press Release, Mintz Levin - October 1, 2008 Ninth Circuit Upholds San Francisco Health Care Ordinance Employee Benefits Advisory, Mintz Levin - October 9, 2008 New Federal Law to Reduce Litigation Expense Litigation Alert, Mintz Levin - September 23, 2008 Financial Markets Impact ERISA Retirement Plans and Plan Fiduciaries Employee Benefits Alert, Mintz Levin - September 23, 2008 Focus on Energy Renewable Program Incentives and Grants Focus on Energy, Wisconsin's energy efficiency and renewable energy initiative, announced that it is offering large, one-time only grants to help finance the installation of innovative renewable energy systems. Funds will be awarded on a competitive basis and are meant to support one project in each of the following technologies:
Application Deadline: October 29, 2008 New York State Energy Research and Development Authority NYSERDA seeks proposals to support the development, demonstration, and commercialization of environmentally preferred power systems and energy storage technologies. The solicitation includes four categories: new product development (funding up to $1,000,000); early stage innovative product feasibility and technology transfer studies (funding up to $250,000); energy storage demonstration projects (funding up to $1,500,000); and other demonstration projects (funding up to $1,500,000). Application Deadline: January 14, 2009 The Clean Coal Power Initiative The CCPI Round 3 Announcement seeks advanced coal-based projects that have progressed beyond the research and development stage to a point of readiness for operation at a scale that, once demonstrated, can be readily replicated and deployed into commercial practice within the electric power industry. The announcement is specifically targeting advanced coal-based systems and subsystems that capture and sequester, or put to beneficial reuse, carbon dioxide emissions. The announcement is also open to any coal-based, advanced carbon capture technologies that result in co-benefits with respect to efficiency, environmental, or economic improvements potentially capable of achieving CCPI coal technology performance levels specified in the EPACT 2005, Title IV, Subtitle A, Section 402 (Table 1). DOE’s goals in this Announcement are to demonstrate at commercial scale in a commercial setting technologies that (1) operate at 90% carbon capture efficiency (2) make progress toward capture and sequestration at less than 10% increase in the COE, and (3) make progress toward capture and sequestration of 50% of plant CO2 output at a scale sufficient to evaluate impact of the carbon capture technology on plant operations, economics, and performance. At least 300,000 tons per year of carbon dioxide emissions from the demonstration plant must be captured and sequestered or put to beneficial reuse. The carbon capture process must operate at a capture efficiency of at least 90%. Application Deadline: January 15, 2009 The Energy Foundation Grants The Energy Foundation is a partnership of major donors interested in solving the world’s energy problems. Their mission is to advance energy efficiency and renewable energy—new technologies that are essential components of a clean energy future. The Renewable Fuels Foundation Offers The Renewable Fuels Foundation (RFF) Board of Directors funds those research projects that have clear goals and measurable outcomes with benchmarks that will advance the science of ethanol production. While sound research should be the basis for all grant applications, the RFF will only support projects that directly enhance domestic production of ethanol and the efficient use of co-products. One grant will be awarded for $150,000, of which $75,000 will be made available over two years. Viable projects may qualify for continued funding past this time frame. Research project proposals must have a national implication, not local. The RFF prefers to fund national model projects, thereby making a bigger impact to the US ethanol market. Business Expansion Initiative Business Expansion Initiative (BEI) supports the development and expansion of the production capacity of renewable energy technology firms in Massachusetts. BEI provides secured debt capital to expansion-stage companies for new renewable energy product design and manufacturing financing. BEI loans may only be made to companies located within Massachusetts. The Carbon Trust The Carbon Trust, via an incubator scheme, helps prepare promising early stage companies in the UK to raise the investment needed to grow their business. They work with early-stage companies who have developed innovative carbon-saving technologies, demonstrating commercial potential and high-growth potential. The Carbon Trust is funded by the Department for Environment, Food and Rural Affairs (Defra), the Department for Business, Enterprise and Regulatory Reform (BERR), the Scottish Government, the Welsh Assembly Government and Invest Northern Ireland. The scheme aims to create investment opportunities in technology start-up companies developing low-carbon technologies. Companies accepted for incubation will receive up to £60,000 of financial support from the Carbon Trust over a 12–18 month period. The Carbon Trust incubator scheme, which accelerates the commercialization of promising low-carbon businesses, has announced partnerships with business advisory firm Grant Thornton and a commercial law firm local to Cambridge (Mills & Reeve LLP), to provide corporate finance and legal advisory support to its incubator companies. Algae Biomass Summit October 22–24, 2008 Renewable Energy Finance Forum - West October 27–28, 2008 Wind Expo LAWEA 2008 November 5–7, 2008 Grid-Interop 2008 November 11–13, 2008 2nd Concentrated Solar Power Summit November 12–13, 2008 Arizona Sustainable Building Expo & Conference November 12–13, 2008 The Fourth Conference on Clean Energy Financing and Partnering for Emerging Business November 18–19, 2008 Greenbuild International Conference and Expo 2008 November 19–21, 2008 2008 CleanICT Summit November 20–21, 2008 9th Forum Solarpraxis November 20–21, 2008 ISES 3rd Asia Pacific Conference November 25–28, 2008 2nd Energy Efficiency Finance and Investment Forum December 1–2, 2008 Solar Convention Las Vegas 2008 December 1–4, 2008 First PHOTON PV Thin-Film and Utility Conference December 2–4, 2009 Houston Sustainable Building Expo & Conference December 3–4, 2008 Energaia International Renewable Energies Exhibition December 10–12, 2008 Renewable Energy Asia 2008 December 11–13, 2008 3rd European Renewable Energy Policy Conference February 9–11, 2008 International Solar Energy Expo & Conference 2009 February 25–27, 2009 Green Energy Summit March 3–7 2009 Renewable Energy World Conference & Expo North America March 10–12, 2009 World Biofuels Markets March 16–18, 2009 |
||
| Boston | Washington | New York | Stamford | Los Angeles | Palo Alto | San Diego | London | |||
|
Copyright © 2008 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. The above has been sent as a service by the law firm of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. and may be considered an advertisement or solicitation. The content enclosed is not intended to provide legal advice or to create an attorney-client relationship. The distribution list is maintained at Mintz Levin’s main office, located at One Financial Center, Boston, Massachusetts 02111. If you no longer wish to receive electronic mailings from the firm, please notify our marketing department by going to www.mintz.com/unsubscribe.cfm. |
|||