Archive: March 13, 2015

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Solar Sukuk Lights the Way to Alternative Funding Sources: Australia, Indonesia and Malaysia Working Together
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Oregon Considers Energy Storage Legislation
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Energy Storage Council Conference

Solar Sukuk Lights the Way to Alternative Funding Sources: Australia, Indonesia and Malaysia Working Together

SGI-Mitabu, a joint venture of two Australian solar companies, The Solar Guys International and Mitabu Australia, has revived its plans to fund its Indonesian 250 megawatt solar project with Islamic compliant funding. The solar project will require up to A$550 million of financing. Commencing in July 2015, the first phase of the project will be funded through an offer of A$150 million of sukuk (a type of Islamic investment instrument, similar to a bond).

Read more here.

Oregon Considers Energy Storage Legislation

The Oregon legislature is considering a bill that would require the state’s large electric utilities to procure one or more “qualifying energy storage systems” by January 1, 2020. H.B. 2193 would apply to any entity that is engaged in the business of distributing electricity to retail electricity consumers in Oregon (not including a consumer-owned utility) if the entity makes sales of electricity to retail customers in an amount that equals 3 percent or more of all electricity sold to retail electricity customers in Oregon. An energy storage system is deemed to be “qualifying” if it is “cost-effective,” and the legislation contemplates that each electric company would procure one or more such systems having the capacity to store not less than 5 megawatts of electricity but not more than an amount of electricity that is equal to one percent of the company’s peak load for 2014. H.B. 2193 would allow an electric company to recover in its rates all costs prudently incurred in procuring one or more cost-effective energy storage systems, “including any above-market costs associated with procurement.”

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Energy Storage Council Conference

K&L Gates is pleased to announce that partner Jenny Mee will be a presenter at the inaugural Energy Storage Council Conference, on May 13-14, in Melbourne, Australia. This informative and comprehensive two day conference will explore important issues relating to the advancement of energy storage solutions in Australia and globally, including market developments and trends, technology integration, policy and industry case studies.

Click here for full event details.

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