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In the July 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 client EnerNOC. This week, the Boston-based power management company was named the top firm in the demand response industry by Greentech Media. After reaching new contracts with clients such as the Tennessee Valley Authority earlier this year, EnerNOC has increased its total load management to nearly 5 GW. Data released this month shows that clean tech venture capital financing continued its upward trend in the second quarter of 2010, with investments totaling over $2 billion worldwide for the second consecutive quarter. After the global financial crisis drove investment in the space down in 2009—$4.85 billion invested following a record $7.6 billion in 2008—venture capital appears to be flowing to clean tech companies at pre-crisis levels. For more analysis on the data, please see our recent alert. In Capitol Hill news, Senate Democratic leaders are reportedly set to bring comprehensive energy and climate legislation to a vote later this month. Senate Majority Leader Harry Reid (D-NV) announced that the bill will have four components: oil spill response; a clean-energy and job-creation component; a tax package; and a section that deals with greenhouse gas emissions from the electric utility industry. 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 StatesThe Top Five Players in Demand ResponseGreentech Media – July 19, 2010 Trilliant Raises $106 Million for Smart Grid TechClean Edge News – July 15, 2010 Report: Carbon Cap to Spur Nukes, Gas, RenewablesCNET News – July 15, 2010 SolarCity Gets $21.5 Million Led by Mayfield FundRenewable Energy World – July 15, 2010 Exxon, Synthetic Genomics Open Algae Test FacilityEarth2Tech – July 14, 2010 Bill Gates Backs EcoMotors’ New OPOC Engine with $23.5 MillionVentureBeat – July 13, 2010 GE Announces $200 Million Power Grid ChallengeGreentech Media – July 13, 2010 UC Berkeley Study Touts Economic Benefits of FITsRenewable Energy World – July 12, 2010 The Energy Fight Coming to the SenateGreentech Media – July 12, 2010 Rosendin Breaks Ground on $50 Million Solar ProjectRenewable Energy World – July 7, 2010 Long-Awaited Enel Green Power IPO Scheduled for OctoberRecharge News – July 7, 2010 Atlantic Power Invests $40 Million in Idaho Wind ProjectClean Edge News – July 7, 2010 MEMC Completes Acquisition of SolaicxRenewable Energy World – July 6, 2010 Enbridge Announces $500 Million Investment for 250 MW Colorado Wind ProjectClean Edge News – July 1, 2010 Global Clean Technology Venture Investment Increases 65% in 1H 2010Cleantech News – July 1, 2010 After Slow Start, Tesla Zips in Post-IPO TradingGreentech Media – June 29, 2010 Sequoia Leads $55 Million for SunRun, Bringing Solar to a Roof Near YouVentureBeat – June 29, 2010 Bloom Energy Raising $50 Million More Before IPOGreentech Media – June 28, 2010 MIT Researchers See Natural Gas as the Choice for Lower Carbon EmissionsThe New York Times – June 25, 2010 Boston-Power Raises $60 Million More: Will It Get to Escape Velocity?Greentech Media – June 25, 2010
In the News: Europe and AsiaABB Secures $700 Million Order to Link Offshore Wind Farms to German GridNew Energy World Network – July 16, 2010 UK, France and Germany Team Up to Call for Greater EU Carbon CutsBusinessGreen – July 15, 2010 Mitsubishi Electric to Invest $113.5 Million to Expand Renewable-Focused Power Device Production CapacityNew Energy World Network – July 15, 2010 Spain Becomes World’s Largest Solar Thermal Energy ProducerNew Energy World Network – July 13, 2010 South Korea to Invest $1.3 Billion in Green FundReuters – July 12, 2010 Indonesia to Channel $1 Billion U.S. Export-Import Bank Loan Into GeothermalNew Energy World Network – July 12, 2010 Yingli Green Energy Subsidiaries Set to Secure $5.31 Billion Credit Facility from China Development BankNew Energy World Network - July 9, 2010 Report: Global Smart Grid Investment to Reach $46 Billion by 2015Clean Edge News – July 15, 2010 Able UK to Build £400 Million Marine Energy ParkNew Energy World Network – July 8, 2010 German FIT Reduction Deal ReachedRenewable Energy World – July 7, 2010 Spain to Cut Tariffs for Wind and Solar Thermal PlantsNew Energy World Network – July 6, 2010 Britain Leads Europe’s Offshore Wind IndustryRenewable Energy World – July 2, 2010 Italy Surpasses U.S. in Solar PVRenewable Energy World – June 30, 2010
Government Financial AssistanceGrantsMassachusetts 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 Clean Energy Center Commonwealth Wind Incentive Program: Micro WindMassachusetts Clean Energy Center Commonwealth Wind Incentive Program: Community-Scale WindMassachusetts Clean Energy Center Commonwealth Solar
Privately Sourced Financial GrantsGE EcoImagination Challenge: Powering the GridThe Energy Foundation GrantsThe Renewable Fuels Foundation Grants for Ethanol ProductionThe Carbon Trust
Federal and State HappeningsLABC Proposes Los Angeles Solar Feed-in TariffsRenewable Energy World – July 15, 2010 DOE Announces $30 Million in New Small Business Funding to Help Commercialize Clean Energy TechnologiesPress Release, U.S. Department of Energy – July 14, 2010 Senator Murkowski Introduces Bills to Boost Hydropower GenerationRenewable Energy World – July 14, 2010 Department of Energy Awards $92 Million for Groundbreaking Energy Research ProjectsPress Release, U.S. Department of Energy – July 12, 2010 PACE Program on Life SupportGreentech Media – July 9, 2010 Abound Solar Gets $400 Million Loan Guarantee from FedsGreentech Media – July 7, 2010 DOE Announces $67 Million Investment for Carbon Capture DevelopmentPress Release, U.S. Department of Energy – July 7, 2010 $1.45 Billion Loan Guarantee for Abengoa CSP PlantGreentech Media – July 5, 2010 State RPS’ Lead to 250% Market Growth by 2025Renewable Energy World – July 2, 2010 Oregon’s Feed-In Tariff Sells Out in 15 MinutesGreentech Media – July 2, 2010 Maine to Get $20 Million for Offshore WindRenewable Energy World – June 30, 2010 DOE Announces $24 Million for Algae ResearchRenewable Energy World – June 30, 2010
Legal NewsWhy RGGI Should Die and State GHG Regulation Should ThriveEnergy and Clean Technology Alert, Mintz Levin – July 14, 2010 Venture Debt – Another Tool for CleantechEnergy and Clean Technology Alert, Mintz Levin – July 14, 2010 Clean Tech Venture Capital Activity UpdateEnergy and Clean Technology Alert, Mintz Levin – July 1, 2010 EPA’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
EventsJulyCleantech 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 Green Power Conferences: Optimizing Wind Power PerformanceSeptember 28-29, 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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