We announce the publication of the second edition to our “Show Me The Money – the Law of Stimulus Bill”. The second edition of the guide reviews the various programs and potential sources of federal funding for clean energy companies and projects. Like the first edition published in May, the second edition addresses funding opportunities
DOE Unveils Hydrodynamic Testing Facilities Database
The U.S. Department of Energy’s (DOE) Wind and Hydropower Technologies program recently unveiled a new database containing information on the test capabilities and services of a variety of U.S. hydrodynamic test facilities.
The first-of-its-kind database encompasses 81 commercial, academic, and government facilities and offshore berths in 18 states, and will directly facilitate the testing of
Show me the Money: $66 Million for State Weatherization Assistance Programs
Today, the Department of Energy (“DOE”) announced more than $66 million in Recovery Act funding to four states for their weatherization assistance programs. The funding will help weatherize over 26,000 homes, lower energy costs, reduce pollution, and create green jobs across the country. Here is how the funds will be used in Alaska, Colorado, Connecticut and Hawaii:
Continue Reading Show me the Money: $66 Million for State Weatherization Assistance Programs
Fish Farms?: Algae to Fuel Entrepreneurs Are Moving Up the Food Chain
Today, the Wall Street Journal’s Russel Gold reported that entrepreneurs are looking into massive algae blooms in the Gulf of Mexico that create "dead-zones" for sea life as a potential feedstock of algae for biofuel production. The dead zones are a result of run-off of fertilizers and other agricultural waste creating nutrient rich areas for algae to grow. Eventually, the
The Wind Energy Promotion Act: Turbo Charging the Renewable Energy Production Tax Credit
U.S. Representatives Collin Peterson (MN) and Tim Walz (MN) introduced the Wind Energy Promotion Act (WEPA) last month. If WEPA becomes federal law, the Renewable Energy Production Tax Credit (PTC) promises to become an even more potent driver for wind power project development. Under current law, the PTC may only be used to shelter passive
Show me the Money: $343 Million Deployed to Transmission Project in Washington and Oregon
The Department of Energy has announced that $343 million from the American Recovery and Reinvestment Act has been provided to the Bonneville Power Administration’s ("BPA") McNary-John Day transmission project (the "McNary-John Day Line") in Washington and Oregon.
The McNary-John Day Line runs 79 miles from the McNary Substation in Oregon, through Washington, and ending at the
SCE Solicits Feedback on Solar PV Program; CPUC to Host Feed-in Tariff Panel
SCE Solar PV Program:
Back in June, the California Public Utilities Commission (“CPUC”) issued a decision authorizing Southern California Edison (“SCE”) to execute contracts for up to 250 MW of generation from solar PV facilities owned and operated by independent power producers through a competitive solicitation process. The CPUC decision required SCE to file an advice
Show me the Money: DOE Proposes Amendments to its Loan Guarantee Program
Today, the Department of Energy (DOE) issued a notice of proposed rulemaking to amend 10 CFR Part 609, the rule regulating the loan guarantee program authorized by section 1703 of Title XVII of the Energy Policy Act of 2005. The two principal goals of section 1703 of Title XVII are to encourage commercial use of new or significantly improved energy-related technologies and to achieve substantial environmental benefits. (See these recent alerts regarding the DOE loan guarantee program and the related application process)
After reexamining Title XVII, the DOE has concluded that the statute does not require a first lien on all project assets. DOE has discovered that its current requirement that it be in lien position is in conflict with the financing structure of many energy projects. For example, many utility scale power plants are jointly owned by public power agencies, cooperative power systems and investor-owned utilities. In these cases, it may not be commercially feasible to obtain a lien on all project assets or the credit of a sponsor may be sufficient to support a more modest pledge of assets.
Furthermore, DOE has found that other parties are interested in participating as co-lenders, co-guarantors, or insurers of Title XVII loans. However, these other parties expect to share, on a pari passu basis, in any collateral securing such loans.
Consequently, DOE proposes two amendments to the current rules:
- Delete the requirement of a first priority lien on all project assets and leave to the Secretary (of DOE) the determination of an appropriate collateral package, as well as intercreditor arrangements; and
- Allow the Secretary (of DOE) to determine if pari passu lending is in the best interests of the United States
Continue Reading Show me the Money: DOE Proposes Amendments to its Loan Guarantee Program
Stoel Rives Sponsors the 2009 Algae Biomass Summit
Stoel Rives, LLP has decided to sponsor the 2009 Algae Biomass Summit ("2009 ABS"). The Algal Biomass Organization ("ABO") is hosting the 2009 ABS in San Diego this October 7-9th. The event will take place at the Marriot San Diego Hotel & Marina.
This year’s ABS will discuss the emerging issue of algae as
Show Me the Money: $2.4 Billion for NexGen Batteries and Electric Vehicles
48 new advanced battery and electric drive projects will receive a total of $2.4 billion under the American Recovery and Reinvestment Act. The projects, which were selected through a competitive bidding process by the Department of Energy, will support U.S. manufacturing of batteries, electric drive components and electric drive vehicles. The dollar amount of the awards