Banking

Mexico’s Guidelines for Clean Energy Certificates Will Support Renewable Energy Development

By Michael Hindus, John B. McNeece III, Eric Save | Pillsbury Winthrop Shaw Pittman LLP

American Fuel Up On Cheaper Gas Over The Border Of Mexico

As part of a historic restructuring of its electrical power sector, Mexico will create a market for tradable Clean Energy Certificates, which many industry participants will be required to obtain. Draft guidelines proposed by the Mexican Ministry of Energy set forth the criteria for granting these clean energy certificates, a framework for buying and selling them, and a procedure for establishing the obligations of market participants to obtain the certificates. Final guidelines will be issued shortly.

 /  Published October 29, 2014 at 4:00 PM

Structuring Energy and Natural Resource Investments into Sub Saharan Africa

By Joz Coetzer, Mukund Dhar, Professor Hiroshi Oda, Christopher Utting | White & Case LLP

Bill Clinton Visits Clinton Foundation Projects In Africa

An improving investment climate –

Perceptions of Africa as an investment destination are changing rapidly and parts of Africa are increasingly considered very attractive for foreign direct investment. Compare this to similar findings as recently as three or four years ago, and it becomes clear that there has been a remarkable change in Africa’s image in a short period of time.

The statistics suggest that these changing perceptions are justified. Africa’s share of global foreign direct investment stands at 5.7% – an all-time high, of which, notably, 80% is directed towards sub-Saharan Africa1. In addition, there has been a marked increase in intra-African investment. While the majority of this inward investment has been focused on the traditional extractive industries, it is worth noting that there is also a long-term trend towards increasing investments in consumer facing industries, such as financial services. Kenya, for example, is harnessing such investment to establish itself as a regional commercial financial hub…

 /  Published October 17, 2014 at 4:00 PM

Sarulla Geothermal Power Project To Serve As Blueprint For Future Projects

By Clarinda Tjia-Dharmadi | Latham & Watkins LLP

A man walks outside a newly launched 670

The 330-MW Sarulla geothermal power project stands to be the largest geothermal power project in Indonesia to date. A Latham & Watkins team led by partners Joseph Bevash, Clarinda Tjia-Dharmadi and Andrew Roche advised the lenders on the $US1.17 billion financing of the project. In this Q&A interview Tjia-Dharmadi discusses the significance of the deal, the unique financing challenges it presented, and the project’s potential to serve as a blueprint for future geothermal projects in Indonesia.

 /  Published October 16, 2014 at 4:00 PM

Ratcheting Up The Pressure: Reinforced Ukraine-Related Sanctions On Russia

By Panagiotis Bayz, Betre Gizaw, Felix Helmstädter, Nicholas Spiliotes, Christoph Wagner | Morrison & Foerster LLP

President Obama Delivers State Of The Union Address At U.S. Capitol

On September 12, 2014, the United States (“U.S.”) and European Union (“EU”) both announced expanded sanctions related to Russia and Ukraine. These measures seek to increase pressure on the Russian Government to stop threatening the territorial integrity of Ukraine. In general, the specific sanctions (i) target specific entities and individuals, (ii) limit access to financial markets, and (iii) prohibit certain oil related exports and activities.

 /  Published October 14, 2014 at 4:00 PM

ML Strategies Energy & Environment Update: Week of 10/6/2014

By David Leiter | Mintz Levin - Energy & Clean Technology Matters

Research Shows San Andreas Fault May Be Overdue For Large Earthquake

The fifth annual United States-India Energy Partnership summit took place in Washington last week. The United States and India created the Clean Energy Finance Forum September 30 after Indian Prime Minister Narendra Modi met with President Obama in Washington for the first time since his election in the spring. The forum will bring together public and private sector officials to consider ways to mobilize financing for India’s expanding renewable energy market. The two countries also announced a $1 billion financing deal between the U.S. Export-Import Bank and India’s Renewable Energy Development Agency to help increase U.S. renewable energy exports to India and help India transition to a low-carbon economy. In the last four years, India’s solar market has grown more than a hundredfold to reach more than 2.5 GW of grid-connected installed solar energy. India is the world’s fifth largest wind energy producer, with 20 GW of installed wind capacity.

 /  Published October 10, 2014 at 4:00 PM

United States Tightens Sanctions Against Russian Financial, Defense, and Energy Sectors

By Cristina Brayton-Lewis, Richard Burke, Claire DeLelle, Nicole Erb, Genevra Forwood, Tanya Hanna, James R.M. Killick, Sara Nordin, Charlotte Van Haute, Fabienne Vermeeren, Kristina Zissis| White & Case LLP

Temperatures Plunge In Moscow

On September 12, 2014, the United States issued another round of targeted sanctions against the Russian financial, defense, and energy sectors. Today’s measures were a combination of new measures and modifications of prior measures issued pursuant to Executive Order 13662 (EO 13662), including:

– Financial Services Sector – Directive 1 has been modified to further restrict prohibited “new debt” with a maturity exceeding 30 days.

– Defense Sector – New Directive 3 prohibits “new debt” with a maturity exceeding 30 days issued by listed defense companies.

 /  Published September 17, 2014 at 4:00 PM

Energy News Roundup: Banks, Commodities, Putin’s Energetic Confidence and Oil by Rail Regulations

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2014 Paralympic Winter Games - Closing Ceremony

Some banks are sticking it out in commodities as several others exit the business amid onerous regulations and decreasing profitability. The banks that stick around – including Goldman Sachs – face less competition. [Bloomberg] Putin feels emboldened by the fact that major western oil companies remain committed to Russia despite the current souring of relations… Keep reading →

 /  Published April 24, 2014 at 8:30 AM

Three Things to Know About Cleantech Crowdfunding and Open Innovation Now

By Peter Gardett

Positive Earnings Reports Push Stocks Higher

    There are some words in the business world that become swiftly debased: innovation and cleantech are, along with “crowd” anything, are among the worst of recent offenders. But that doesn’t mean that any of these terms fail to represent meaningful concepts for  energy sector decision-makers, and if anything participants in energy business decision… Keep reading →

 /  Published January 17, 2014 at 10:00 AM

Energy News Roundup: New Players Enter Commodity Price Hedging Business

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IntercontinentalExchange Purchases The New York Stock Exchange For Over 8 Billion

As Wall Street retreats from the energy trading business new players like major oil companies, utilities and other corporate enterprises are taking large chunks of the energy derivative and price hedging market. “With Wall Street hamstrung by growing regulatory restrictions, a recently finalized ban on proprietary trading and increased capital requirements, these corporate behemoths are… Keep reading →

 /  Published December 16, 2013 at 8:30 AM