Saturday, June 20, 2009

Renewable Energy Adjunct Professor's Firm Selected to Provide Counsel on Alternative Energy Finance Transactions

The U.S. Department of Energy (DOE) has selected the law firm of Brownstein Hyatt Farber Schreck -- where Adjunct Professor John Herrick has a climate change/renewable energy law practice -- to provide project transactional counsel under its federal loan guarantee program. Brownstein thus joins a select list of U.S. law firms that will represent the DOE in its loan guarantee program related to the development of new and innovative energy technologies.

Bruce James, managing partner at the firm, said:
“The Department of Energy’s selection speaks to Brownstein’s position as an experienced player in the new energy economy and our experience as project transaction counsel for developing energy technology concerns. We have been, and continue to be, at the forefront of providing innovative solutions for clean technology and renewable energy projects.”
As project transactional counsel, Brownstein, under the direction and supervision of DOE’s counsel, will advise DOE on every aspect of its loan guarantee program on assigned projects. The firm will be responsible for providing legal counsel in all stages of the process from reviewing applications and performing due diligence to negotiating project document and executing closings. Projects will include those related to renewable energy projects, advanced fossil energy technology, hydrogen fuel cell technology, advanced nuclear energy facilities, carbon capture and sequestration, and efficient electrical generation, transmission and distribution technologies.

Brownstein’s renewable energy practice is led by Mr. Herrick, who teaches "Renewable Energy Project Finance" in the DU law graduate program and is former chief counsel for the DOE’s Golden, Colo. office. Mr. Herrick's practice group includes key shareholders in the firm’s natural resources and corporate and business groups. The cross-disciplinary group combines decades of traditional energy sector experience with an understanding of the complex business, finance and regulatory environment facing renewable energy and clean technology projects.

DOE’s Loan Guarantee Program, authorized by Title XVII of the Energy Policy Act of 2005, aims to facilitate early commercial use of new or significantly improved technologies in energy related projects. Loan guarantees issued by DOE will be backed by the full faith and credit of the United States.

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