Energy and Clean Tech Connections

November 2010

In the November 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 & Clean Technology Practice Group would like to congratulate Mintz Levin clients MTPV and Purpose Energy, and ML Strategies client Suniva. MTPV took the top prize at the NREL’s 23rd Annual Industry Growth Forum receiving the Best Venture award. After completion of the world’s first full scale biogas plant designed to digest spent grain from breweries, Purpose Energy was awarded a Section 1603 Grant-in-Lieu by the U.S. Department of Treasury. Also this month, Suniva participated in the U.S.-India Innovation Roundtable led by President Obama and was heralded by the President as an example of a U.S. business that is deepening trade relations with India. On November 19th, Thomas R. Burton, III, chairman of Mintz Levin’s Energy and Clean Technology Practice Group, will serve as a panelist at the MIT Sloan CFO Summit. The Summit was recently ranked the #2 event for non-CEO C-level executives by Weber Shandwick.

In international news, China continues to distinguish itself as the world’s preeminent destination for clean energy and technology investment. This month, General Electric announced plans to invest more than $2 billion in China over the next two years to strengthen its research and development capabilities throughout the country. GE will spend $500 million on R&D focused on the creation of innovation centers for renewable energy, smart grid, and energy efficient lighting schemes. It will also invest more than $1.5 billion in joint ventures with Chinese state-owned enterprises with the aim of improving smart grid and renewable power distribution capabilities in the region.

On Capitol Hill, while the political shift to the right resulting from the midterm elections is widely considered to be a bad omen for the clean energy community, there remain several opportunities for clean energy to move forward during the 112th Congress. These solutions which have enjoyed bipartisan support may be pushed through over the coming months: a renewable electricity standard, the extension of the 1603 Grants in Lieu of Tax Credits, the expansion and extension of the 48C Advanced Energy Manufacturing Tax Credit, funding for a HomeStar energy efficiency home retrofit program, and the establishment of a Green Bank. Last Wednesday, officials from the wind, solar, and geothermal industries met with the White House’s National Economic Council to discuss the extension of the 1603 and 48C tax credits as well as the creation of a renewable electricity standard.

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 Energy and Environment Update.

Mintz Levin’s Monthly Incubator Profile:
ATI Clean Energy Incubator

The ATI Clean Energy Incubator (CEI) in Austin, Texas provides resources and facilities necessary for start-ups to attract funding, compete in the free market, and turn their ideas into reality. Funded by the Texas State Energy Conservation Office, CEI supports innovative portfolio companies like CMNA Power, a developer of high-altitude wind energy systems, and Exergy/Trinity Thermal Systems which develops thermal energy storage products that feed off of small to mid-sized air conditioning systems. Since 2002, CEI has served 18 companies within the renewable and energy efficiency sectors; more specifically, these companies range from geothermal power and biofuels, to wind energy and water conservation. It also hosts a world-class clean tech event every fall, the Clean Energy Venture Summit, which attracts hundreds of industry leading companies, entrepreneurs, and investors each year.

In This Edition

In the News: United States

In the News: Europe and Asia

Government Financial Assistance

Privately Sourced Financial Grants

Federal and State Happenings

Legal News

Events

In the News: United States

Greenleaf Power Acquires Second California Biomass Plant

New Energy World Network – November 15, 2010

Energy and Clean Tech Connections

Mintz Levin’s Monthly Incubator Profile: ATI Clean Energy Incubator

In This Edition

In the News: United States

Greenleaf Power Acquires Second California Biomass Plant

Suniva Receives $15 Million Working Capital Loan Guarantee from Export-Import Bank of the United States

New Energy Systems Group Acquires Kim Fai Solar Energy Technology for $24 Million

CalPERS Dedicates $500 Million to Environmental Investment Strategy

Biomass Co-Generation Facility Breaks Ground in Oregon

Three Major Solar Photo Voltaic (PV) Funding Rounds Close

Renewable Energy Subsidies Worldwide Reached $57 Billion in 2009, International Energy Agency (IEA) Says

Suniva Joins U.S.-India Innovation Roundtable

Ameresco Partners to Deliver Renewable Energy Cost-Savings to Colorado City

Wells Fargo Invests $100 Million in Solar Projects

GT Solar Secures Credit Suisse Facility to Repurchase Shares

Sharp Acquires Recurrent Energy for $305 Million

California Attracts Foreign Investment into Renewable Energy

Tesla Receives $30 Million Investment from Panasonic

AE Biofuels Raises $4.5 Million to Fund California Projects

Nexant Raises $50 Million for Smart Grid Software

GreenHunter Energy Closes $30 Million Financing for Bioenergy Project

U.S. Wind Power Posts Slowest Quarter Since 2007

Green Plains Increases Senior Debt Note Offering Target to $75 Million

NRG Energy to Invest $300 Million in BrightSource’s Ivanpah Solar Thermal Project

SNC-Lavalin Wins $575.6 Million Waneta Expansion Hydro Project Contract

In the News: Europe and Asia

Huaneng Power Renewable Energy Spin-Offs Get IPO Approval

EU Launches €4.5 Billion Clean Energy Fund

3i India Fund Invests $182 Million in Hydro Developer GVK Energy

GE Invests $2 Billion in China Power Innovation as It Forms New Partnerships

IEA’s World Energy Outlook 2010 Sends Strong Message

CEZ Negotiates €200 Million Solar Project Loan with European Investment Bank

IEIG to Plug €140 Million in European PV in Next Nine Months

Scotland Announces $113 Million Natural Renewable Infrastructure Fund

Jinko Solar Raises $126 Million in Follow-On Offering

Impax NEF II Renewable Energy Fund Secures €118 Million Subscriptions

Intelligent Energy Secures £3.7 Million from SSE Joint Venture, Scottish Enterprise

Asian Development Bank Invests $21.6 Million in Bhutan Renewable Energy Program

Ener1 Lands $40 Million Contract for Russian Grid Storage

Volkswagen to Invest $84.2 Million in Brazil Small Hydro Project

Azure Power Raises $40 Million to Develop PV Plant in Gujurat

Greece’s PPC to Invest €2 Billion per Year by 2015

Government Financial Assistance

Grants

Massachusetts Green Energy Fund

Energy Production with Innovative Methods of Geothermal Heat Recovery

Renewable Energy Incentives for Homes & Businesses

Tax Incentives and Rebates

Federal Advanced Energy Manufacturing Tax Credit (48C)

Federal Modified Accelerated Cost Recovery System

Federal Business Investment Tax Credit

Federal Renewable Power Production Tax Credit

Federal Tax Credits for Home Builders

Federal Tax Deductions for Commercial Buildings

Self-Generation Incentive Program

California Property Tax Exclusion for Solar Energy Systems

Massachusetts Alternative Energy and Energy Conservation Patent Deduction (Personal and Corporate)

Massachusetts Hydropower-Property Tax Exemption

Massachusetts Local Property Tax Exemption

Massachusetts Corporate Income Tax Deduction

Massachusetts Clean Energy Center Commonwealth Wind Incentive Program: Micro Wind

Massachusetts Clean Energy Center Commonwealth Wind Incentive Program: Community-Scale Wind

Massachusetts Clean Energy Center Commonwealth Solar

Privately Sourced Financial Grants

New Generation Energy Grants, Loans and Microloans

GE Ecomagination Challenge: Powering the Grid

The Energy Foundation Grants

The Renewable Fuels Foundation Grants for Ethanol Production

The Carbon Trust: The Entrepreneurs Fast Track

Federal and State Happenings

DOE Launches New Energy Efficiency and Renewable Energy Advisory Committee

DOE Announces $5 Million in Awards for Ocean Renewable Energy Research Projects

California Releases Proposed Cap and Trade Regulation

Department of Transportation Awards $2.4 Billion for High-Speed Passenger Rail

Two Solar Energy Plants, Including 1 GW Plant, Approved for Federal Lands

DOE Announces $350 Million Loan Guarantee for Nevada Transmission Line Project

New Interagency Agreement Establishes Framework for Collaboration on the Economy, Energy, and Environment Initiative

Legal News

Incentivizing Energy Efficiency across the American Economy

Cleantech Ecosystems: Why Massachusetts and California Are Ahead of the Rest

Mintz Levin’s Monthly Incubator Profile:
ATI Clean Energy Incubator