Emerging Sectors in Cleantech Forum
What You Need to Know About Renewable Energy: Evaluating and Managing Risks and Opportunities
June 30th, 2009 | 6:00-9:00 PM | 755 Page Mill Road | Palo Alto
Your Host & Sponsor: Morrison & Foerster
Series Sponsor: RoseRyan

Morrison & Foerster, in conjunction with the VC Taskforce, is launching a six-part panel discussion series entitled Maximizing Returns in Emerging Cleantech Sectors: The Interplay of Regulation, Intellectual Property and Investment. The series will aim to achieve three simultaneous goals:

• Provide an in-depth view into emerging sectors of the Cleantech economy
• Elaborate areas for VC consideration in due-diligence with regard to each sector
• Highlight areas for business planning/strategy development for emerging companies in the space

The events, to help held every other month, will cover various topics in other emerging sectors in the burgeoning Cleantech market.

The format for this series will minimize formal presentations and highlight audience interaction. Each forum is designed to gather experts who will delve into the details about the technology, challenges and opportunities. Attendees will leave with practical knowledge that will help in their strategic development and decision-making. Come to one event, all six or any combination thereof. This is a great opportunity to meet, mingle with, and learn from the luminaries and leaders of these emerging sectors. 

Our Fourth Forum: Renewable Energy

What you need to know about renewable energy: Evaluating and managing risks and opportunities

Clean, renewable sources of energy, such as wind, solar, geothermal and biomass, have long been viewed as key to solving many of the country’s most vexing energy issues, including its dependence on foreign oil and climate change.  Although renewable energy technology has existed for years, many factors have prevented renewable energy from playing a meaningful role in meeting the country and state’s energy needs.  The status quo is rapidly changing, as renewable energy has recently seen a huge surge in interest from the investment community.  Investors, however, need to be familiar with a complex and changing regulatory and project permitting regime, which can introduce significant delay and cost risks to otherwise attractive projects.  

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.

Please join us at Morrison & Foerster’s Palo Alto office on June 30th for a discussion that will shed light on these various issues.

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.  
Steve DeYoung, Director of Environmental Safety and Health, BrightSource Energy  
Douglas Buchanan, Sr. Director, Project Management, BrightSource Energy

Agenda:
6:00 - 7:00 Registration, Networking, Buffet
7:00 - 8:00 Panel Discussion
8:00 - 8:30 Q&A
Enjoy hors d'oeuvres, wine and soft drink

Registration Fee:
VC Taskforce Member $55
Affiliate Organization Member $75
General $95

Emerging Sectors in Cleantech Series Committee

Chair Person:
Ben Franks, Cleantech Practice Manager, Morrison & Foerster

Program Manager:
Rose Mortilla, Vice President, Yes Partners