In the June edition of 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 local governments to Capitol Hill, grant opportunities, and upcoming events. This month, the Energy and Clean Technology Practice Group would like to congratulate clients EnerNOC and FloDesign Wind Turbine. EnerNOC announced that it has expanded its demand-response capacity with the Tennessee Valley Authority (TVA) from 160 to 560 MW. Meanwhile, earlier this month FloDesign opened its new headquarters in Waltham, Massachusetts. The company plans to use the new facility to develop a more powerful wind turbine that uses mature jet engine technology. Last week, in an Oval Office speech addressing the ongoing oil leak and environmental crisis in the Gulf of Mexico, President Obama called for a “national mission” to reduce the country’s reliance on oil and develop viable alternative sources of energy. Earlier in the week, the President told supporters that a new approach to energy policy must include “rolling back billions of dollars of tax breaks to oil companies so we can prioritize investments in clean energy research and development.” Also this month, Tesla Motors has announced that it will increase the target of its initial public offering. The electric car maker said it plans to raise $185 million from the offering, $50 million of which would come from an investment by Toyota. The company had originally planned to raise $100 million when it filed for an IPO in January. We hope that you enjoy this month’s edition of the newsletter. For the most up-to-date information on federal legislation and programs, please click here to find the most recent ML Strategies Weekly Energy and Environment Update.
In This EditionGovernment Financial Assistance Privately Sourced Financial Grants
In the News: United StatesNevada Geothermal Power to Get $98.5 Million Loan with DOE Acting as Loan GuarantorClean Edge News – June 16, 2010 In Oval Office Speech, Obama Calls for New Focus on Energy PolicyThe New York Times – June 15, 2010 EnerNOC, TVA Expand Energy ProgramThe Boston Globe – June 15, 2010 Tesla Motors Raises Target for IPOCNET News – June 15, 2010 Cleantech Research to be Prioritized in Wake of Gulf Oil Spill, Says ObamaNew Energy World Network – June 15, 2010 Geothermal Company Calpine Raises $1.4 Billion Credit Loan through SubsidiaryNew Energy World Network – June 11, 2010 Bill Gates, John Doerr: We Need $16 Billion per Year for Energy InnovationEarth2Tech.com – June 10, 2010 Tigo Energy Gets $10 Million for PV Panel MaximizerGreentech Media – June 9, 2010 Virent, with Backing from Shell and Cargill, Gets $46.4 Million for Biogasoline TechnologyClean Edge News – June 9, 2010 Solexant Unstealths with $41.5 Million and a CadTel RecipeGreentech Media – June 4, 2010 Coulomb Technologies to Install Nearly 5,000 EV Charging Stations in U.S.Clean Edge News – June 3, 2010 Enphase Banks $63 Million with Help From Kleiner Perkins, et al.Greentech Media – June 3, 2010 FloDesign Preps Waltham HQ Launch for New Commercial Turbine WorkMass High Tech – May 28, 2010 U.S. Wind Industry Faces 2010 Growth Constraints, Says StudyNew Energy World Network – May 26, 2010 Amyris IPO Update: DOE Funds Roll In, Losses Top $136 MillionEarth2Tech.com – May 26, 2010 Siemens Lands Four U.S. Wind Service Contracts worth $55 MillionNew Energy World Network – May 25, 2010 GE and Lake Erie Energy Development Corporation Announce 20 MW Great Lakes Offshore Wind PilotClean Edge News – May 25, 2010 SunEdison Partners with Private Equity Firm First Reserve to Fund $1.5 Billion Solar ProjectsNew Energy World Network – May 25, 2010 GridPoint Lands U.S. Postal Service as CustomerGreentech Media – May 24, 2010 GeoGlobal Energy Invests $90 Million in Hudson Ranch Geothermal ProjectNew Energy World Network – May 21, 2010 BrightSource Raises $150 Million MoreGreentech Media – May 20, 2010 Khosla’s EcoMotors to Get $18 Million for Advanced Engine TechnologyClean Edge News – May 19, 2010 The Networked Grid: 5 Trends to WatchGreentech Media – May 18, 2010
In the News: Europe and AsiaEtrion to Acquire 30 MW of Italian Solar Projects for €45 MillionNew Energy World Network – June 16, 2010 Ex-Im Bank Agrees on $500 Million Financing to Support Vietnam’s Renewable Infrastructure GrowthNew Energy World Network – June 14, 2010 EU to Install 10 GW of Wind Capacity in 2010, Predicts EWEANew Energy World Network – June 14, 2010 U.S. Solar Companies Race to India as its Solar Mission Aims for 1 GW by 2013New Energy World Network – June 11, 2010 Abengoa Solar and Total Get 100 MW Masdar CSP Deal in UAERenewable Energy World – June 10, 2010 First Solar to Expand German Manufacturing by 223 MWRenewable Energy World – June 8, 2010 Home Fuel Cell Maker ClearEdge to Tackle KoreaEarth2Tech.com – June 8, 2010 Vestas Targets China’s Offshore Wind SectorNew Energy World Network – June 8, 2010 AES Solar Closes €31 Million Project FinancingRenewable Energy World – June 7, 2010 Suntech to Add 1 GW of Solar Manufacturing Capacity in ShanghaiNew Energy World Network – June 7, 2010 China Green Car Policies Put Locals in Driver's SeatReuters – June 2, 2010 Germany to Raise Solar Target for 2010 and Adjust TariffsRenewable Energy World – June 2, 2010 UN Climate Talks Push for Realization of Copenhagen PromisesNew Energy World Network – June 1, 2010 Dow Corning to Invest $13 Million in European SolarRenewable Energy World – June 1, 2010 SunPower Closes $55 Million Financing for Second Phase of 85 MW Italian Solar ParkClean Edge News – May 28, 2010 Spain: Why it MattersGreentech Media – May 20, 2010 Mitsubishi Investing $75.6 Million to Test Smart Grid TechnologiesClean Edge News – May 18, 2010
Government Financial AssistanceGrantsU.S. Department of Energy: Sustainable Bioenergy Feedstock Production Systems at a Watershed ScaleApplication Deadline: July 16, 2010 Massachusetts Green Energy FundApplication Deadline: Rolling Unsolicited Proposals to the Massachusetts Renewable Energy Trust’s Industry Investment and Development (II&D) ProgramApplication Deadline: Rolling Focus on Energy Renewable Energy Incentives & GrantsApplication Deadline: Rolling
Tax Incentives and RebatesFederal Advanced Energy Manufacturing Tax CreditFederal Modified Accelerated Cost Recovery SystemFederal Business Investment Tax CreditFederal Renewable Power Production Tax CreditFederal Tax Credits for Home BuildersFederal Tax Deductions for Commercial BuildingsSelf-Generation Incentive ProgramCalifornia Property Tax Exclusion for Solar Energy SystemsMassachusetts Alternative Energy and Energy Conservation Patent Deduction (Personal and Corporate)Massachusetts Hydropower-Property Tax ExemptionMassachusetts Local Property Tax ExemptionMassachusetts Corporate Income Tax DeductionMassachusetts Technology Collaborative Commonwealth Wind Incentive Program: Micro WindMassachusetts Technology Collaborative Commonwealth Wind Incentive Program: Community-Scale WindMassachusetts Commonwealth Solar
Privately Sourced Financial GrantsThe Energy Foundation GrantsThe Renewable Fuels Foundation Grants for Ethanol ProductionThe Carbon Trust
Federal and State HappeningsU.S. Government Pumps More Than $600 Million into CCS ProjectsNew Energy World Network – June 15, 2010 U.S. Communities Receive $60 Million to Support Energy Efficiency InitiativesNew Energy World Network – June 14, 2010 Salazar and Governors Establish Offshore Wind Energy ConsortiumRenewable Energy World – June 11, 2010 U.S. Geothermal Offered $102.2 Million Conditional Loan GuaranteeRenewable Energy World – June 11, 2010 Florida PSC Approves 100 MW Biomass Power PlantRenewable Energy World – June 1, 2010 U.S. Department of Energy Commits $11 Million in Funding for BiofuelsNew Energy World Network – May 28, 2010 U.S. to Create National Fuel Efficiency Standard as Part of Cleantech DriveNew Energy World Network – May 24, 2010 Secretary Chu Announces $38 Million for 42 University-Led Nuclear Research and Development ProjectsPress Release, U.S. Department of Energy – May 20, 2010
Legal NewsEPA’s New Rules for Renovation of Buildings Containing Lead PaintEnvironmental Advisory, Mintz Levin – June 9, 2010 Securities and Exchange Commission Adopts Amendments to Rule 15c2-12 Disclosure RequirementsPublic Finance Advisory, Mintz Levin – June 3, 2010 DOE Releases New Report on Benefits of Recovery Act for Small BusinessesEnergy and Clean Technology Advisory, Mintz Levin – April 13, 2010 Biomass under Attack: When is Carbon Neutral?Energy and Clean Technology Advisory, Mintz Levin – April 13, 2010 Webinar: Responding to the SEC’s New Disclosure Requirements for 2010: Tips and Strategies to Prepare for Proxy SeasonSecurities Law Webinar, Mintz Levin – March 2, 2010 Mintz Levin’s Energy and Clean Tech Practice Completed 40 Transactions in 2009Press Release, Mintz Levin – March 1, 2010
EventsJuneRenewable Energy Finance Forum – Wall StreetJune 29-30, 2010 JulyGrowth Opportunities in Utility Scale SolarJuly 13, 2010 Intersolar North America 2010July 13-15, 2010 International Wind Financing Summit 2010July 14-15, 2010 Annual Sustainable Energy ConferenceJuly 14-16, 2010 Cleantech Focus: ChicagoJuly 27, 2010 SeptemberOffshore Wind Energy in North America’s Great Lakes ConferenceSeptember 9-10, 2010 Southwest Renewable Energy Conference 2010September 15-16, 2010 Renewable Energy Financing Forum – WestSeptember 29-30, 2010
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Thomas R. Burton III Brady Berg Evan M. Bienstock Travis L. Blais Faith L. Charles Ralph A. Child Tania Rodrigues Cleary Jonathan M. Cosco Julian Crump Daniel I. DeWolf Susan L. Foster, Ph.D. Jeremy D. Glaser Jeremy B. Hayden Irwin M. Heller Jonathan L. Kravetz Carl A. Kukkonen III Cynthia J. Larose David J. Leiter Jeffrey A. Moerdler David L. O’Connor Jeffrey R. Porter Mark J. Riedy Jennifer Sacco Smith Chuck A. Samuels Paul J. Scapicchio Gabriel Schnitzler Sahir Surmeli Stanley A. Twarog Paula J. Valencia-Galbraith Michael D. Van Loy, Ph.D. Maureen J. Walsh Scott C. White Peter B. Zlotnick
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