Energy and Clean Tech Connections (September 2009)
9/24/2009
In the September 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 local governments to Capitol Hill, grant opportunities, and upcoming events.
This month, the U.S. House of Representatives passed the Wind Energy Research and Development Act, a bill designed to improve the efficiency, reliability, and cost-effectiveness of domestic wind energy systems. The proposed legislation would require the Secretary of Energy to carry out a $1 billion program of research and development to improve the energy efficiency, reliability, and capacity of wind turbines. The bill would also create a demonstration program to measure wind energy performance that would include the full range of wind conditions across the country. That data would then be used as part of the research and development program. It also requires that the demonstration programs be conducted in collaboration with private industry.
Earlier this month, the U.S. Department of the Treasury announced the recipients of $502 million in awards for clean energy projects around the country. The grants are the first round of awards from an American Recovery and Reinvestment Act program that provides cash assistance to energy production companies in place of earned tax credits. For more information about the program, as well as guidance on eligibility and how to apply, please see our recent Alert.
Last month, the Energy and Clean Technology Practice Group announced that Mark J. Riedy has joined Mintz Levin’s Washington‚ D.C. office. Throughout his 30-year career, Mr. Riedy has counseled renewable and conventional energy clients doing business in dozens of countries around the world. He has represented clients in negotiating and drafting project development and debt and equity financing contracts‚ and in general corporate transactions including acquisitions, mergers, private placements‚ and the establishment of new entities.
The Energy and Clean Technology Practice Group would like to congratulate Mintz Levin clients Achates Power, Deeya Energy, FloDesign, GreatPoint Energy, Hyperion Power Generation, Joule Biotechnologies, The NanoSteel Company, Performance Plants, and Solar Junction, who earlier this month were named to the 2009 edition of The AlwaysOn Network’s “Going Green 100.” The “Going Green 100” is a list of the top private clean technology companies. Candidates are selected based on the breakthrough potential of their technologies, their management team, and their investors.
We hope that you enjoy this month’s edition of the newsletter.
