2011 Deal Making in Renewable Energy
2011 Deal Making in Renewable Energy
March 24, 2011 - New York, NY
With the passage of a sweeping climate bill pending and the public push for renewable energy integration greater than ever before, the energy sector must stay up to speed on the issues, challenges and opportunities presented by this integration. Similarly, energy investors face an increasingly complex landscape of renewable opportunities with little transparency as to which subsectors will benefit the most from future legislation. These are amongst the topics that will be discussed at the 2011 Deal Making in Renewable Energy meeting.
This event will feature insights from top
First Wind View Bio »
Kurt Adams oversees the development of all First Wind’s projects nationwide.
Prior to joining First Wind, Mr. Adams was Chairman of the Maine Public Utilities Commission from 2005 to 2008, where he served as Maine’s primary energy regulator. As chairman, he served as a member of the New England Conference of Public Utilities Commissions, the National Association of Regulatory Utility Commissions (NARUC), the NARUC Electricity Committee, the NARUC Competitive Procurement Committee. He was also Maine’s representative on the New England State Committee on Electricity.
Prior to his position with the Maine PUC, Mr. Adams was Governor John Baldacci’s chief legal counsel from 2003 to 2005.
Before joining the Governor’s staff, Mr. Adams was a partner in the law firm of Bernstein, Shur, Sawyer & Nelson in Portland, Maine. At Bernstein, Shur, Mr. Adams was the Vice Chairman of the firm’s energy practice. Mr. Adams represented independent power producers in all facets of project development. Mr. Adams represented national and international private and public sector clients on energy projects. He also represented lenders on energy project financings.
Education and Credentials
- Juris Doctor from the University of Maine School of Law
- M.A. in International Affairs from The George Washington University
- B.A. Skidmore College
Hudson Clean Energy Partners View Bio »
Geoff Broglio joined Hudson in October 2008. His responsibilities include investment origination, due diligence, structuring, negotiation, monitoring and exit strategy. Mr. Broglio has been actively involved with Hudson’s investments in Recurrent Energy and Calisolar. Prior to joining Hudson, Mr. Broglio was an Associate at First Reserve, a $12 billion energy-focused private equity firm. At First Reserve Mr. Broglio focused on due diligence, financing and portfolio monitoring. Prior to that, he was an investment banking Analyst in the financial sponsors group at Citigroup. Mr. Broglio graduated from Virginia Tech with BS degrees in Finance and Business Information Technology.
Chief Executive Officer, Tremisis Energy LLC View Bio »
Lawrence S. “Larry” Coben is the chairman and chief executive officer of Tremisis Energy LLC , a company that purchases and advises businesses in the energy and environmental sectors. He also served in a similar capacity for both of Tremisis’ publicly affiliated special purpose acquisition corporations (SPAC). Mr. Coben was the Senior Principal and a member of the Investment Committee of Sunrise Capital Partners, a private equity fund that invested capital in control positions of distressed and troubled middle market companies.
Mr. Coben served as chief executive officer of the New York Stock Exchange traded Bolivian Power Company, Ltd., Bolivia’s largest private electric generator and distributor until its sale to an American-Swedish utility consortium. He founded and served as managing director of Liberty Power Corp., an independent power development firm devoted to the financing, ownership and operation of electric generating and transmission assets in Latin America. Mr. Coben also was one of the founders of two other companies - Recovery Corporation of America, a medical waste incineration firm where he was chairman, and Catalyst Energy Corporation, a New York Stock Exchange traded independent power and alternative company that was one of the largest in the nation, where he was senior vice president. Catalyst was #1 on the Inc. Magazine Fastest Growing Public Company List for the years 1982-1986.
Mr. Coben is a director of NRG Energy, a large electricity generation company, and SAESA, a Chilean utility, and was a director of Prisma Energy, the post-bankruptcy filing successor company to Enron that held its international assets. He co-wrote the national energy policy for the Lieberman 2004 Presidential Campaign. He serves on the Department of Homeland Security’s Sustainability and Efficiency Task Force and the Cleantech and Green Business for Obama Steering Committee. Coben writes an energy blog for the Huffington Post,
Mr. Coben received a B.A. in economics from Yale University and a J.D. from Harvard Law School.
Coben is the founder and Executive Director of the Sustainable Preservation Initiative (“SPI”). SPI (www.sustainablepreservation.org) is the innovative organization that preserves the world’s cultural heritage by providing sustainable economic opportunities to poor communities where endangered archaeological sites are located.
Coben is also an archaeologist affiliated with the University of Pennsylvania, where he has received his M.A. and is completing his doctorate in anthropology. His most recent archaeological work focuses on Inca imperial expansion and the role of spectacles, rituals and theatricality in ancient societies. He co-authored the seminal volume Archaeology of Performance: Theater, Power and Community. More on Mr. Coben’s research can be found at www.larrycoben.com.
Starwood Energy View Bio »
Alan B. Dash is a Senior Vice President of Starwood Energy and is responsible for transaction origination, execution and asset management activities with an emphasis on utility-scale renewable energy projects in North America. Mr. Dash was one of the Founding Partners of Nautilus Solar Energy, a portfolio company of the Starwood Energy Infrastructure Fund. Mr. Dash has over 25 years experience in the power and energy sector, spanning private equity, finance and engineering consulting.
Prior to joining Nautilus Solar Energy Mr. Dash was employed by Impax New Energy Investors, LP, a London based asset manager, to originate and structure transactions in the renewable energy sector. He also worked at J.P. Morgan & Co where he focused on post-M&A recapitalization, as well as CS First Boston and Prudential-Bache Securities. Mr. Dash was also Vice President of Corporate Development and Strategic Planning at Air & Water Technologies Corp (k.k.a. Veolia Environmental) where he served in a variety of roles including divisional president and as a member of the new technology investment committee.
Mr. Dash has a BA from the State University of New York, a ScM from Harvard University and a MBA in Finance from the Wharton School at the University of Pennsylvania.
The Parsons Corporation View Bio »
Len is responsible for Parsons’ Power Delivery and Renewables business sector providing turnkey, engineering and professional services to clients engaged in power transmission, distribution, renewables and Smart Grid programs and projects. Len joined Parsons in Nov. 2010 having previously been Business Development Director for First Solar (FSLR) negotiating EPC deals for large utility scale PV solar projects.
Len has worked for over 30 years for major energy companies in the power delivery and renewables industry in the UK, US and globally and has specific experience in power market deregulation; power transmission and distribution; asset management; hydro; pumped storage; solar and renewable generation grid integration.
Len had led development and investment efforts in hydro and pumped storage assets for National Grid Co, in Europe, S. America, India and the Philippines and whilst at Edison International (EIX) led development of commercial strategies for the utility’s hydro generation division as well as leading due diligence efforts for investments in global power infrastructure.
Len is member of the Institute of Engineering and Technology and a former vice chair of the Variable Generation Subcommittee at WECC (Western Electricity Coordination Council). He holds a Bachelors degree with Honors in Electrical and Electronic Engineering from Salford University, UK.
Dickstein Shapiro LLP View Bio »
Larry Eisenstat leads Dickstein Shapiro’s Energy Practice. He has considerable experience handling both regulatory and transactional matters, as well as litigation, antitrust, compliance and enforcement proceedings on behalf of utilities, independent power producers, marketers, financial institutions, trade associations, and large energy consumers. He also devotes a substantial part of his time to counseling on energy policy, strategic planning, investment, and corporate reorganization matters.
Mr. Eisenstat has served as lead counsel in numerous federal and state administrative and judicial proceedings in connection with market design and restructuring, transmission and interconnection, power supply and planning, trading and pricing issues, and enforcement matters. He also has served as project counsel in connection with virtually all aspects of the development, financing, construction, and operation of both conventional and renewable power plants and transmission facilities throughout North America, including utility solicitations, contract disputes, market access, market power and market monitoring issues, renewable portfolio standards, power pricing and enforcement matters, and the development and operation of regional transmission organizations and independent transmission companies.
In 2009, Mr. Eisenstat was recognized by Public Utilities Fortnightly in its first-ever hotlist of “Groundbreaking Lawyers” following a survey of in-house counsel, public utility commissions, and trade associations. Since 2005, Mr. Eisenstat has been included in Chambers USA: America’s Leading Lawyers for Business. In 2010, Chambers described him as “a skilled and tenacious litigator with a great depth of understanding of the independent power business, from transmission and interconnection to siting and development” and “as ‘excellent at keeping clients out of trouble, and a good bet for gloves-off litigation.’” According to the 2009 guide, clients refer to him as “the perfect man for any negotiation or adversarial scenario…[he] understands his client’s objective and then applies his exceptional market knowledge to make it happen.” The 2008 guide described him as “exceptionally bright and plugged-in,” and “an extremely effective advocate in the areas of public policy, project development and litigation, [who] is known for his prowess in strategic planning and FERC rulemaking proceedings.”
Mr. Eisenstat writes regularly for publications such as Public Utilities Fortnightly, Electric Light & Power, North American Clean Energy, POWER, Wind Today, Electricity Journal, Independent Energy, Legal Times, and Law360. He also is a frequent speaker at various energy industry conferences, most recently at the Infocast Projects & Money Summit 2011, Infocast Power Dealmaking Summit 2010, AWEA Windpower Conference & Exhibition 2010, and Argyle Executive Forum: Leadership in Utilities 2010.
Mr. Eisenstat received his B.A. in political science from The University of Chicago (1982) and his J.D. from The University of Chicago Law School (1985).
Denham Capital Management LP View Bio »
Scott Mackin is Co-President and Managing Partner at Denham Capital, responsible for the firm’s Power & Renewables Group. He brings 24 years of energy experience to the firm. Scott is a member of the Executive Committee, Management Committee, Investment Committee, and Valuation Committee. Denham is a global energy and commodities fund and has made renewables sector investments in geothermal, wind, solar, biomass and waste gas recovery internationally.
Prior to joining Denham Capital, Scott was President and CEO of Covanta Energy Corporation, a leading renewables company, and President of Ogden Energy, and General Counsel at Ogden Projects. He also was an Associate at Schnader, Harrison, Segal & Lewis and Law Clerk to the Hon. Daniel H. Huyett III, Federal District Court for the Eastern District of Pennsylvania. Scott received a Bachelor of Arts, Honors Program, from Villanova University and a Juris Doctor from the University of Michigan Law School.
Greentech Capital Advisors View Bio »
Michael joined Greentech Capital Advisors from Goldman Sachs, where he was a Vice President in Global Investment Research and the lead analyst for the US alternative energy and coal sectors. His research was spread among a variety of areas such as coal mining, coal technology, solar module manufacturing, demand response, waste-to-energy, battery storage, wind, and fuel cells. Prior to that, he also covered the homebuilder sector. For 2008, Michael’s stock-picking performance was in the top 5% of all of Goldman Sachs US equity analysts with his recommendations resulting in +32% absolute performance, +72% relative to Russell 3000 and +50% relative to coverage universe.
Prior to Goldman Sachs, Michael was a Visiting Research Fellow at Accenture’s Institute for High Performance Business, a company-sponsored think tank. His research focused on management techniques to most effectively maximize shareholder value at high-growth companies and was published in both internal and external business journals. He was also a manager in Accenture’s strategy practice.
Michael started his career with Arthur Andersen in the consumer products and services audit and business advisory group, where he conducted financial statement audits in a variety of sectors such as casino entertainment, discount retail, high-fashion retail, as well as nonprofits. While an undergraduate, he was selected to represent the State of New Jersey in the Federal Bureau of Investigation’s Honors Internship Program where he assisted in white collar crime investigations.
Michael received an MSc with Merit from the London School of Economics, an MBA from the University of Chicago and a BS with Honors from Rutgers University. He is a CFA (Chartered Financial Analyst) charterholder and also holds a CPA, CMA, and CFM (Certified Public Accountant, Certified Management Accountant, and Certified in Financial Management).
NRG Energy Inc. View Bio »
Drew Murphy has been Executive Vice President and Regional President, Northeast since February 2009. He previously served as NRG’s Executive Vice President and General Counsel from December 2006 to February 2009. Prior to joining NRG, Mr. Murphy was the partner in charge of the energy practice at the law firm of Hunton & Williams where he represented issuers, developers, investors and lenders in a wide variety of US and cross-border energy projects and structured financings. His expertise includes supporting various development projects and financings including coal- and gas-fired power plants, transmission lines, gas storage facilities, waste-to-energy facilities, water treatment facilities and renewable energy projects. Mr. Murphy has a Bachelor of Arts degree from Harvard College and a Juris Doctor degree from George Washington University.
DBL Investors View Bio »
Nancy E. Pfund is a Managing Partner of DBL Investors, a venture capital firm whose goal is to combine top-tier financial returns with meaningful social, economic and environmental returns in the regions in which it invests. Ms. Pfund currently sponsors or sits on the board of directors of several private companies, including; Tesla Motors, Pandora, BrightSource Energy, SolarCity, Solaria and eMeter. Originally a regional venture capital group within JPMorgan, DBL Investors spun out as an independent firm in January 2008. Ms. Pfund joined JPMorgan (then Hambrecht & Quist) in 1984 as a securities analyst and later, Managing Director in 1989; Ms. Pfund is also a member of the board of directors of the California Clean Energy Fund (CalCEF), and Advisor to the CalCEF Angel Fund; member of the Advisory Board of the UC Davis Center for Energy Efficiency, and is a founding officer and director of ABC2, a foundation aimed at accelerating a cure for brain cancer. Most recently, Ms. Pfund has been appointed as a member of CPUC Commissioner Timothy Simons’ New Directions Program for the Future of California Utilities. Ms. Pfund speaks frequently on subjects relating to environmental investing, environmental policy, and mission-related investing. Ms. Pfund received her BA and MA in anthropology from Stanford University, and her MBA from the Yale School of Management.
IntraLinks View Bio »
Matthew Porzio, Vice President of Product Marketing, joined IntraLinks in August of 2003. He is responsible for driving the development and marketing of IntraLinks' Exchanges including virtual dealroom/dataroom solutions for the M&A and restructuring communities.
Before joining IntraLinks, he was a senior associate at Metzler, a German advisory firm, where he focused on cross-border M&A transactions. Prior to Metzler, Mr. Porzio served as an analyst and associate in Equity Capital Markets and Business Services Investment Banking groups at First Union Securities (later Wachovia). Mr. Porzio holds a Bachelor's degree from Colgate University.
Mr. Porzio is widely recognized as a leading authority on virtual datarooms and M&A technology. He has been quoted in several national and international publications related to the investment banking, legal and corporate M&A markets including the Boston Globe's Business Section, Investment Dealers Digest, The Deal and American Lawyer. Mr. Porzio has spoken on numerous industry panels and is a member of the selection committee for the M&A International Media Awards.
CTC Cable Corporation View Bio »
Mr. Ramsay is President of CTC Cable. Mr. Ramsay is an experienced leader with a strong technical, operational and consultant background in utilities and smart grid technologies. Mr. Ramsay has broad experience in the global Utility Industry. He is the former Vice President of Asset Management and Electric Transmission for Pacific Gas and Electric. He has over 27 years in the industry, and his breadth of experience ranges from strategy and governance to engineering, construction, operations, and performance improvement for transmission, distribution, customer service and generation for gas and electric utilities. He has contributed to the development of regulatory strategy at both a national (FERC) and state level, including giving expert witness testimony before FERC and several State Utility Commissions on transmission access and territorial boundaries.
At both American Electric Power and Pacific Gas and Electric, Mr. Ramsay was heavily involved in innovative approaches to modernizing the grid. He has been a strong proponent of the creation of adaptive, self-healing grids using a range of smart grid technologies on both the utility and customer side of the meter.
Mr. Ramsay served on the Board of the WECC and for 2 ½ years as the WECC representative to the NERC MRC. Mr. Ramsay was a member of the California Energy Commission’s Public Interest Energy Research Program’s Policy Advisory Committee, where he was a proponent of rapid development and deployment of intelligent technologies. Mr. Ramsay serves on the Board of expert advisors to the California Emerging Technology Fund and on the Board of Coro, Northern California.
Con Edison View Bio »
Christopher Raup has worked at Consolidated Edison for five years and is Manager of the State Regulatory Affairs group at the Company. Mr. Raup represents Con Edison in discussions with New York Public Service Commission personnel and with other state and local regulatory bodies. His work has included developing the Company’s comments on the New York State Climate Action Plan and the State Energy Plan, and coordinating Con Edison’s position on modifying the State’s Renewable Portfolio Standard. Mr. Raup has also worked in Con Edison’s Energy Markets Policy Group, addressing wholesale energy market issues for the Company, including coordinating transmission planning and market design activities with the the New York Independent System Operator and PJM, and conducting natural gas quality discussions with the interstate gas pipelines.
Prior to joining Con Edison in 2006, Mr. Raup worked for KeySpan Corporation in various engineering and strategy related positions. Mr. Raup received an MBA in 2005 from the Rotterdam School of Management in the Netherlands, and earned a Bachelor’s Degree in Mechanical Engineering in 1996 from The Cooper Union for the Advancement of Science and Art in New York City. Mr. Raup is a registered professional engineer in New York State.
Fraser Milner Casgrain, LLP View Bio »
Ron is the National Co-Lead of FMC's Renewable Energy Team. Ron's practice focuses on the development and financing of projects and major commercial transactions, particularly in the energy and infrastructure sectors.
He has extensive international experience advising proponents, lenders and others involved in major projects and transactions (including renewable and other electricity generation, transmission, distribution and supply; upstream, mid-stream and downstream oil & gas; petrochemicals and liquefied natural gas; hospitals, road, rail, ports and other infrastructure).
Ron has spent many years based in London, England with major London law firms, where he advised extensively on energy and infrastructure projects and transactions throughout the U.K., Europe, the Middle East and Africa.
He has also spent time working as corporate counsel to major international oil companies. Ron began his legal career as a commercial lawyer in our firm in Calgary.
Lux Research View Bio »
Ted leads the Lux Research Solar Components and Solar Systems Intelligence services. He speaks regularly with innovative start-up executives, leading academics, and corporate line-of-business managers to answer client-critical questions. Ted has evaluated the business models and technologies underlying hundreds of start-up companies developing solar and advanced materials technologies and has advised on a number of hundred million dollar investments in solar technology developers, polysilicon facilities, and solar system integrators.
Ted is primarily focused on tracking technology innovations in the solar energy space, engaging in primary interviews with emerging technology innovators and established corporations in the field. He works with both corporate and financial services clients to answer questions ranging from the highly technology- and firm-specific, to broad questions on technology adoption drivers and barriers. Ted has authored numerous Lux Research reports and has been an invited speaker at venues like Oak Ridge National Laboratory, Northwestern University, and a broad array of industry conferences.
Ted joined Lux Research from the University of Virginia, where he earned a B.S. in Finance. While at the University, he was a member of the prestigious Jefferson Society.
OwnEnergy View Bio »
Jacob Susman has ten years of investing and business development experience in the field of renewable energy. Jacob has led OwnEnergy since its inception, including recruiting and managing the team, raising capital, establishing the brand, sourcing new business, developing projects and generating revenue.
Before founding OwnEnergy, he was a founding member of Goldman Sachs' Alternative Energy Investing group, where he was involved in Goldman's investment in Horizon Wind Energy and co led a portfolio financing that was named Project Finance’s N.A. Renewable Energy Deal of the Year. Prior to that he served as Project Manager for the AES Corporation, working on a team that developed one of the largest power plants in Spain—named European IPP of the Year by Euromoney. Jacob also led AES’s efforts to develop a Spanish renewable energy business, which included negotiation of more than 1,000 MW of wind energy investment opportunities.
Jacob holds an MBA from The Wharton School of the University of Pennsylvania, where he led a team to the finals of the Business Plan Competition with the concept for OwnEnergy.
Jacob lives with his wife, Jodi, and two daughters in Brooklyn, New York. They are active in the local community and are avid skiers.
8:00am â€“ 8:55am Breakfast
8:55am â€“ 9:00am Argyle Opening Remarks
9:00am â€“ 9:40am Panel Discussion
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â€śFinancing the Future of Clean Energyâ€ť
Session topics include, but are not limited to:
- How are projects, large and small, getting financed?
- Challenges and opportunities in obtaining financing and overcoming constraints on raising capital
- Where will money be made? What sectors are financiers reviewing with the most interest in the current policy and economic environment?
- Financially evaluating clean energy projects and managing risk
9:40am â€“ 9:45am Introducing
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â€śThe Regulatory Environment for Renewable Energyâ€ť Panel DiscussionMatt PorzioVP, Product Marketing, Mergers & AcquisitionsIntraLinks
9:45am â€“ 10:25am Panel Discussion
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â€śThe Regulatory Environment for Renewable Energyâ€ť
Session topics include, but are not limited to:
- What might the future of US energy policy look like? What would it look like in a perfect world?
- A look at international energy policy: what are other countries doing to lead the way to renewable energy integration? What lessons can we learn from foreign energy policies?
- Current state of U.S. renewable energy policy
- How might regional and federal cap and trade or other programs to impute avoided carbon costs affect existing conventional and renewable energy markets?
10:25am â€“ 10:30am Introducing
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â€śAn Update on Renewable Energy Technologyâ€ť Panel DiscussionStewart RamsayPresidentCTC Cable Corporation
10:30am â€“ 11:10am Panel Discussion
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â€śAn Update on Renewable Energy Technologyâ€ť
Session topics include, but are not limited to:
- What technologies are emerging as leaders in the field? What technologies are working?
- Issues and challenges companies face bringing these technologies to market
- What technologies do we anticipate getting government funding?
- Application of these technologies to larger scale energy production- when will they hit the grid?
11:10am â€“ 11:30am Closing Remarks and Coffee Reception
Participation is reserved for Members of Argyle Executive Forum that meet the following criteria:
- SVP and VP level executives (or equivalent) and direct reports from Energy companies with at least $500mm in annual revenue.
- Chief Executive Officers and complementary areas of executive leadership (CFOs, COOs, CLOs, etc) from Energy companies with between $100mm and $500mm in annual revenue.
- Founders and Managing Directors (or equivalent) and direct reports from investment firms that focus on Energy with at least $500mm in AUM.
If you do not meet these requirements, and would like to discuss participation in this meeting, please contact: Lauren Everhart, email@example.com, (646) 839- 0046.
Participation by partnering organizations is limited to clients of Argyle Executive Forum. If you are a current client and would like to include this meeting in your campaign, please contact your Argyle Executive Forum Relationship Manager. If you are not a current client and would like to discuss participation in this meeting, please contact: Philip Cernera, firstname.lastname@example.org, (646) 839- 0044.
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