This seminar provides an overview of the policy and legal frameworks driving the growth of the U.S. renewable electric power industry (primarily in the wind and solar sub-sectors); the key contractual documents necessary to develop and finance wind and solar power projects; and the legal and market issues facing the renewable electric sector going forward. In addition, the course will explore policy options and new business model innovations that have emerged as possible ways to create alternative sources of capital and project finance structures for renewable projects. After becoming familiar with the policy and market landscape for renewable power projects in the U.S., students (working in groups) will review a set of hypothetical renewable power project documents to analyze potential risks and mitigants for a typical project investor. Students will summarize their findings and present to an “investment committee” comprised of legal and finance practitioners active in the renewable project development and finance industry.
- Develop baseline knowledge of key state and federal laws and policies impacting the development and financing of wind and solar energy projects in the U.S., and the interplay between such different levels of regulation.
- Demonstrate an ability to analyze and explain a particular state's regulatory regime in respect of the development of certain renewable energy projects located therein.
- Develop an understanding of the main legal documents (a) governing project development and (b) for project financing, and key provisions (including risks and mitigants, and market commercial terms) for each.
- Demonstrate an ability to, in cooperation with an assigned team, utilize such background knowledge to analyze a specific set of wind or solar project development documents, including the risks and proposed or actual mitigants in respect of the development and financing of such project.