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Renewable, Alternative, and Distributed Energy Resources (RADER) Committee, Government and Private Sector Innovations (GPSI) Committee, and Energy, Environmental Markets, and Finance (EEMF) Committee
PRESENT: Crowdfunding: An Alternative Approach to Financing Wind and Solar Projects
Recorded on Wednesday, February 11, 2015
Listen to the recording: Playback ID: 157114042
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Program Description: Financing renewable energy projects traditionally has entailed receiving funds from investors who are not always members of the local community, or who are local but only can afford to invest small sums in the project. Enter the new age of crowdfunding. Using a crowdfunding approach, community wind and solar projects have been funded with capital from a combination of local residents and more traditional mainstream investors utilizing "intrastate" securities offerings. Our experts will share their practical business and legal experience in using crowdfunding to finance wind and solar projects and will explain the particulars about how crowdfunding works. Please join us for a RADER Committee and GPSI Committee in-committee program to explore this unique type of funding for renewable energy projects.
Speakers: Marguerite Wells, Project Manager, Black Oak Wind Farm LLC, Enfield, NY
Marguerite Wells is the Project Manager of Black Oak Wind Farm, a 7-turbine community-owned wind farm under construction outside of Ithaca, New York and co-owner of Motherplants, a green roof plant nursery. She also taught in the Horticulture Department at Cornell for 11 years. Her Masters degree is in Environmental Sustainability from University of Edinburgh Scotland. She'll see the wind farm she's building from her backyard.
Paul Blumenstein, Attorney, Mountain View, California; Staff Attorney with Axiom Paul Blumenstein is an attorney based in Mountain View, California, where he represents technology startups and emerging growth companies in corporate, securities and commercial matters. Paul is also on staff with Axiom, through which he assists clients in part-time in-house roles. In this capacity, Paul has served as interim general counsel to Solar Mosaic and helped develop that company’s crowdfunding platform for financing commercial and residential solar installations. Paul has 25 years of experience practicing corporate and securities law in Silicon Valley, primarily with DLA Piper and its predecessor, Gray Cary Ware & Freidenrich. Paul has a B.A. in political science from the University of Rochester and a J.D. from the University of Michigan Law School.
Moderators: RADER Committee Co-Chairs:
Kimberly E. Diamond, Counsel, Lowenstein Sandler LLP, New York, NY
Kim Diamond, Counsel in Lowenstein Sandler LLP’s New York City office, is a transactional lawyer who has represented domestic and international commercial banks, financial institutions, asset managers, funds, sponsors, large corporations, and others in numerous complex multi-million and multi-billion dollar securitization, secured lending, and other finance transactions in the public and private markets, both domestically and internationally. Kim is also involved in various renewable energy initiatives. Her numerous articles on wind energy and other alternative energy topics have been published in law reviews, scholarly journals, and national trade publications. Her scholarship has been cited in a recent U.S. Court of Appeals for the Seventh Circuit decision with respect to wind rights. In addition to being national Co-Chair of the Renewable, Alternative, and Distributed Energy Resources (RADER) Committee of the American Bar Association’s (ABA’s) Section of Environment, Energy, and Resources, Kim is Chair of Women of Wind Energy (WoWE)’s New York/New Jersey Chapter. She serves on the Strategic Advisory Board of Rising Tide Capital, a non-profit organization that helps positively transform the lives of struggling individuals from traditionally marginalized populations so that they may start and grow successful businesses. Kim is an honors graduate of the University of Michigan and Cornell Law School.
Roger D. Stark, Partner, Stoel Rives LLP, Washington, D.C.
Roger Stark is a partner in the Washington, D.C. office of Stoel Rives LLP. He has been advising clients for over 25 years on energy project development, finance, and regulatory matters. He has extensive experience in the renewable energy, “cleantech,” and fossil fuel sectors, including project finance and other transactions in more than 30 states and 25 foreign countries. He has counseled clients in a broad range of innovative transactional structures that were industry “firsts” and also has represented clients in energy mergers/acquisitions and public-private partnerships in the U.S. and Latin America. Roger’s energy regulatory and litigation experience includes representing clients before the Federal Energy Regulatory Commission and state electric utility commissions. In addition to being Co-Chair of the ABA’s Renewable, Alternative, and Distributed Energy Resources Committee, Roger is a member of the Board of Directors of the Smart Grid Consumer Collaborative. He is a cum laude graduate of Queens College and Vanderbilt University Law School.
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