VC TaskForce - Emerging Sectors in Cleantech Forum, Renewable Energy June 30, 2009

Our Fourth Forum: Renewable Energy
What you need to know about renewable energy: Evaluating and managing risks and opportunities

New legal mandates, the increased cost of oil, and recent incentives and funding sources have radically changed the outlook in renewable energy, particularly solar and wind. California's aggressive Renewable Portfolio Standard requires that by 2010, utilities provide at least 20% of their electricity from renewable sources. This requirement is expected to climb to 33% by 2020. On the funding side, the recent stimulus bill provides over $60 billion for renewable energy. These changes have led to a recent explosion in investment in renewable energy.

While quickly developing sources of renewable energy enjoys widespread support, the project permitting process raises delay and cost risks for investors. For example, the Department of Energy's Loan Guarantee Program promises to infuse additional capital, but only for qualifying projects under construction by mid-2011. For renewable energy generators committed to transmitting by 2010 the challenge is even more daunting. Federal and California environmental review and protected species impact permitting and mitigation requirements can impose unpredictable delays and costs on projects. Because of this, careful planning and coordination with the key agencies is essential. Anyone investing in these exciting projects should be familiar with the regulatory regime and strategies for reaching project approval.

Moderator:
Chris Carr, Partner, Morrison & Foerster

Panelists:
David Gold, Partner, Morrison & Foerster
Puon Penn, Senior Vice President, Wells Fargo Commercial Banking Group
Adam Bergman, Senior Vice President, Jefferies & Company, Inc.

$55 member, 75 affliate, 95 gen'l adm, + door.

Official Website: http://www.VCTaskForce.com