(New York, NY – March 27, 2014) Today, Environmental Defense Fund (EDF), Citi, Elevate Energy and Wilson Sonsini Goodrich & Rosati are hosting “Innovations in Energy Efficiency and Distributed Generation Finance III,” a conference convening some of the utmost experts in the United States to explore innovative ways to fund energy efficiency projects across the country, focusing on the energy performance of the built environment such as homes, office buildings, factories and schools.
Over 240 attendees from the public, private and non-profit sectors will hear keynote remarks from Richard Kauffman, Chairman of Energy and Finance for the State of New York and Chairman of NYSERDA, and Marc Ferzan, Executive Director, New Jersey Governor’s Office of Recovery & Rebuilding, among others. The event is being held at Citi’s office in lower Manhattan.
“Today’s packed conference, which brings clean energy experts from the private and public sectors together in one room, reflects the incredible momentum in the energy efficiency and solar finance markets. Over the past six months, we have seen groundbreaking transactions in residential and commercial clean energy finance,” said Brad Copithorne, Environmental Defense Fund’s Financial Policy Director.
“Citi is committed to developing and providing solutions that enable energy efficiency projects to tap into the capital markets for financing,” said Marshal Salant, Head of Citi’s Alternative Energy Finance Group. “We know there is a huge pipeline of energy efficiency projects, but financial barriers are preventing many of them from being completed. Convenings like today’s are important in bringing the various stakeholders together to help solve these challenges and exchange ideas.”
To date, building energy efficiency has largely been pursued on a piecemeal, case-by-case basis, and mostly in public properties. This convening, the third of a series of conferences hosted by the organizers on the issue, is an effort to help overcome the barriers that have precluded capital markets involvement, including transaction size and credit quality. There is growing demand for financing activity at scale and across all property types, and capital markets solutions for portfolios of retrofits that in the aggregate can begin to profitably realize significant benefits, like lowering greenhouse gas emissions and energy costs.
“As an energy efficiency program implementer in the residential multifamily market, we know firsthand the challenges to financing this important work,” said Ann Evens, CEO of Elevate Energy. “CDFIs like Community Investment Corporation are invaluable partners in making multifamily housing more energy efficient. Together we’re pushing innovative tools such as on-bill refinancing and on-bill repayment to side-step barriers that prevent efficiency from reaching scale in this important building stock.”
“We are thrilled to see the progress that is being made in implementing and financing more energy efficiency and other clean energy projects at scale, and to continue to help develop practical solutions to the often complex legal issues that arise,” said Charlotte Kim, Partner, Wilson Sonsini Goodrich & Rosati. “As today’s gathering of thought leaders and innovative movers shows, momentum is building in this important sector with each step forward we take together.”
Environmental Defense Fund Environmental Defense Fund (edf.org), a leading national nonprofit organization, creates transformational solutions to the most serious environmental problems. EDF links science, economics, law and innovative private-sector partnerships. See , , and our Energy Exchange blog.
Citi Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Elevate Energy Elevate Energy’s mission is to deliver smarter energy use for all. Elevate designs and implements efficiency programs that lower costs, protect the environment, and ensure the benefits of energy efficiency reach those who need them most. For more information, please visit www.elevateenergy.org.
Wilson Sonsini Goodrich & Rosati For more than 50 years, Wilson Sonsini Goodrich & Rosati has offered a broad range of services and legal disciplines focused on serving the principal challenges faced by the management and boards of directors of business enterprises. The firm is nationally recognized as a leader in the fields of corporate governance and finance, mergers and acquisitions, private equity, securities litigation, employment law, intellectual property, and antitrust, among many other areas of law. With deep roots in Silicon Valley, Wilson Sonsini Goodrich & Rosati has offices in Austin; Beijing; Brussels; Georgetown, DE; Hong Kong; Los Angeles; New York; Palo Alto; San Diego; San Francisco; Seattle; Shanghai; and Washington, D.C. For more information, please visit www.wsgr.com.