Energy and Clean Tech Connections (June 2009)
6/24/2009
For the June 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.
Since the American Clean Energy Security Act cleared the House Energy and Commerce Committee last month, House Democratic leaders have been negotiating the release of the bill to the floor. While most House committees with secondary jurisdiction are expected to discharge the bill from their consideration, the positions of the Ways and Means and Agriculture Committees remain unclear. The bill, however, is expected to reach the House floor before the July 4th recess. Meanwhile, in the Senate, the American Clean Energy Leadership Act, authored by Senator Jeff Bingaman, was approved by the Senate Energy and Natural Resources Committee. Debate of the bill on the floor has not yet been scheduled.
Earlier this month, the IRS released Notice 2009-52, which provides guidance on electing the Investment Tax Credit (ITC) over the Production Tax Credit (PTC) with respect to qualifying renewable energy facilities. This option was made available by the American Recovery and Reinvestment Act of 2009 (ARRA) as an incentive for the renewable energy sector. For more information, please see our Advisory.
Last week, the National Institute of Standards and Technology (NIST) released a report providing an Interim Roadmap for the development of the Interoperability Framework for “Smart Grid” technologies. The report describes the current status, issues, and priorities for interoperability standards development and harmonization. By early fall 2009, the NIST will use this report to formulate interoperability standards, compliance with which will be a prerequisite for receiving Smart Grid incentives outlined in the ARRA.
This month, the Energy and Clean Technology Practice Group would like to congratulate client Cannacord Adams on its $63.3 million secondary public offering of Telvent, Inc. common stock. The group would also like to congratulate client SpectraSensors on the closing of its $6 million financing by Blueprint Ventures, Nth Power, American River Ventures, Nomura Private Equity Investment, and Chevron Technology Venture Investments.
We hope that you enjoy this month’s edition of the newsletter.
