Renewable Energy Update - February 22, 2011

In This Issue:

California senator fights to keep DOE renewable energy loan guarantees; RENEWABLE ENERGY FOCUS - DOE gets $29.5B in Obama's 2012 budget proposal; Report: California cap-and-trade will spur innovation, reap billions for state; Federal, state agencies fine two California biomass plants for emissions violations; Cal-ISO, utilities look to energy storage to help green energy onto the grid; California solar developer sees record 4Q gains in 2010; Permit issues stall residential wind projects in San Luis Obispo; PV crystalline margins, prices predicted to drop in 2011; California company to launch high-efficiency solar cells; Report: Solar developers should look past product hype to choose best electronic applications; NOTABLE RENEWABLE ENERGY PROJECTS AND DEALS Arizona utility contracts First Solar to build 17MW solar farm; Tessera sells 709MW California solar project; GE purchases next generation wind turbine technology; SoloPower gets $197M DOE loan guarantee for Oregon PV plant; BrightSource Energy approaches $100M solar farm financing goal; SolarCity buys Vermont residential PV company; and DOE finalizes $343M financing for Nevada transmission line.

California senator fights to keep DOE renewable energy loan guarantees

MyDesert - Feb 16

Senator Dianne Feinstein (D-Calif.) is fighting to protect a federal program that provides loan guarantees to renewable energy projects from being cut by provisions in a Republican spending bill. In a letter circulated to all Democratic senators, Feinstein said that elimination of the DOE's Loan Guarantee Program as called for by the GOP bill would "devastate" the nations renewable energy industry and waste millions of dollars already invested in such projects. The cuts would pull $26 billion in loan guarantees from 23 renewable energy projects in California and other states, effectively pulling the plug on the projects.

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Published In: Administrative Agency Updates, Energy & Utilities Updates, Finance & Banking Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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