A recently-published NAFTA arbitration award in Windstream Energy LLC v. Government of Canada illustrates the perils of investing in clean energy projects in jurisdictions with ever evolving regulatory and policy frameworks. The case is also a good reminder of the importance of investing in foreign jurisdictions through vehicles incorporated in countries that have adequate investment-protection … Continue Reading
Fundamental changes in the way that the electric utility and power sector operates, interacts with customers, and relates to its regulators are occurring on a massive scale and at an unprecedented pace. Covington is committed to exploring these transformations affecting the power sector, helping our clients to understand and navigate the changes, and fostering collaborations … Continue Reading
Earlier this year, FERC held four technical conferences to discuss the implications of state, regional and/or federal plans for compliance with EPA’s proposed Clean Power Plan (CPP) rule to set carbon emission limits for existing electricity generating units. A major issue raised was the impact of the CPP on electric grid reliability as coal-fired generators … Continue Reading
Nobel Prize-winning economist Amartya Sen recently decried “the failure to develop a framework for assessing the comparative costs of different sources of energy . . . inclusive of the externalities involved.” As if on cue, the European Union (EU) issued an interim research report by an outside consultancy last month that purported to do just … Continue Reading
As has been widely reported, on November 12 President Obama and China’s President Xi Jinping released a joint announcement on climate change and clean energy cooperation. Beyond the announced greenhouse gas emission targets—for the U.S., to reduce emissions 26-28% below 2005 levels by 2025; for China, (i) to peak CO2 emissions by around 2030, with the … Continue Reading
Residential rooftop solar energy continues to expand at a rapid pace in many states. This growing market dynamic is affecting the business model of traditional electric utilities. Some utilities have sought to impose obstacles to the growth of competing solar rooftop providers, citing concern that as more homes produce their own electricity, the corresponding loss … Continue Reading
David Haughan, Stagiarie, Summer 2014, contributed to this post. Mr. Haughan was a legal trainee at the Brussels office of Covington and Burling LLP during the Summer of 2014. David studies at King’s College, London. In a landmark decision (CJEU, C-573/12, Ålands Vindkraft AB v. Energimyndigheten) the Court of Justice of the European Union ruled … Continue Reading
On July 3, 2014, the U.S. Department of Energy (“DOE”) issued a final solicitation for the Renewable Energy and Energy Efficient Projects Loan Guarantee Program. As we previously reported with respect to the draft solicitation issued on April 16, 2014, the Program is expected to make up to $4 billion in loan guarantees available for … Continue Reading
The Department of Energy (“DOE”) issued a draft solicitation yesterday for a new Renewable Energy and Energy Efficient Projects Loan Guarantee Program. Once finalized, the Program is expected to make as much as $4 billion in loan guarantees available to innovative clean energy technology projects that are not currently in commercial use. Based on DOE’s … Continue Reading
