Press Releases
"CGC Lauds Connecticut Lawmakers’ Leadership on Clean Energy"
June 7, 2011
Washington, DC
Today, the Connecticut General Assembly passed new energy legislation that puts the state in the forefront of state efforts to convert to a clean energy economy. Governor Dannel Malloy and the Connecticut General Assembly have demonstrated true leadership in passing this landmark bill, Senate Bill 1243.
“Connecticut has demonstrated that it is serious about putting people to work and lowering the cost of essential services for its residents,” said Coalition for Green Capital CEO Reed Hundt. “I applaud the vision and leadership of Governor Malloy and Commissioner Esty. This legislation will serve as a model for the nation.”
While many states are retreating from efforts to work towards a cleaner, cheaper, and more self-reliant energy future, Connecticut has taken the lead by passing bi-partisan legislation that:
"CGC Lauds Appointment of Dan Esty to Commissioner of Department of Energy and Environmental Protection"
February 14, 2011
Washington, DC
Washington DC, February 14, 2011 – The Coalition for Green Capital (CGC) released the following statement today in response to the announcement made last week that Governor Dannel Malloy of Connecticut has named Dan Esty Commissioner of the new Department of Energy and Environmental Protection (DEEP): "Dan Esty's familiarity with issues around trade and the environment, competitiveness, governance and development will serve him well in his new position. Under Esty's guidance, the state of Connecticut has been given an opportunity to provide innovative leadership towards achieving a clean energy future in the United States."
Prior to Esty's appointment (full announcement can be read here) he served as a Strategic Advisor to the Coalition for Green Capital, a non-profit organization based out of Washington, DC. Reed Hundt, CEO of the Coalition for Green Capital, said, "Although we will miss having the invaluable wisdom and insights Esty has consistently provided to our organization, the CGC rests assured knowing that he will bring his expertise and vast knowledge to the position in order to serve the people of Connecticut and the people of the United States."
Governor Malloy formed the new DEEP Agency in order to consolidate Connecticut's various energy branches into one centralized unit. Esty will be responsible for pollution control, energy policy, land use, oceans, conservation and parks within the state.
"CGC Lauds Senator Bingaman's Energy Agenda"
January 31, 2011
Washington, DC
Coalition for Green Capital (CGC) CEO Reed Hundt had the following response to the speech Senator Jeff Bingaman gave today at the National Press Club
Senator Bingaman set out a bold agenda for the next Congress that meets President Obama's challenge of making the U.S. more competitive in the global economy and encourages the innovation that makes the United States a world leader.
Senator Bingaman proposed key legislative initiatives, including a Clean Energy Deployment Administration (CEDA) that is aimed at bridging the 'valley of death' for cutting-edge and innovative energy projects. His leadership on CEDA has elevated the clean energy debate by focusing on the crucial role played by low-cost, long-term financing of clean energy projects.
"Coalition for Green Capital Unveils Energy Reform Roadmap, Proposals Designed to Change the Conversation on Clean Energy in 2011"
November 16, 2010
Washington, DC
The Coalition for Green Capital (CGC) today released project 2011, an energy policy reform roadmap for legislation designed to reduce the cost of clean energy and create jobs in 2011. The plan recognizes the historic opportunity faced by the 112th Congress to refocus the debate on clean energy deployment. To harness the power of both public policy innovation and private sector investment, Project 2011 tees up legislative proposals as a framework for discussion in the next year. The proposal focuses on: (1) policy incentives to reduce the cost of capital for clean energy projects; (2) regulatory reform to increase demand for clean energy and create greater financial predictability; and, (3) new competitive regional infrastructure to ensure sustained economic development. CGC CEO Reed Hundt, former chairman of the Federal Communications Commission, likened the proposals to a "Telecom Act for Energy." Mr. Hundt headed the FCC when the Telecommunications Act of 1996 was passed, which removed regulatory roadblocks to usher in a revolution in information and communications technologies. "Just as the Telecom Act forged a consensus across party lines to modernize outmoded communications regulations, a similar 'smart policy' makeover is needed today for energy," said Mr. Hundt. "In order to grow, the clean energy industry requires regulatory reform, including policies that will make clean energy cheaper and clean energy markets more predictable to create jobs, drive technology innovation, protect the environment and support economic growth."
Specifically, Project 2011 details a series of proposals that would:
- Create a non-profit lending institution, the Energy Independence Trust, that could borrow money from the U.S. Treasury, as well as the private sector, to address the access to capital challenges that face U.S. clean energy firms and hamper their international competitiveness.
- Propose tax policy solutions to help bolster market demand, through measures such as a long-term tax "holiday" for qualifying entities, similar to the considerations give to e-commerce in the 1990's
- Remove barriers to entry in the clean energy sector, to create more certainty in market demand.
Project 2011 was unveiled today at a conference in Washington, D.C. cosponsored by CGC, the Center for American Progress (CAP) and the American Council on Renewable Energy (ACORE) on "The Future of Energy Reform."
"CGC Co-Hosting Event with Center for American Progress, American Council on Renewable Energy"
November 10, 2010
Washington, DC
The Coalition for Green Capital (CGC) is teaming up with the Center for American Progress (CAP) and the American Council on Renewable Energy (ACORE) to host “The Future of Energy Reform,” a conference on November 16 on the “art of the possible” for energy legislation in the 112th Congress.
“The Future of Energy Reform” will be held November 16 from 9 a.m. to 1:30 p.m. at the Washington, D.C. office of Skadden, Arps, Slate, Meagher, and Flom. At the conference, CGC will unveil its Project 2011 recommendations, which will provide a baseline for the conference discussions.
In addition, the program will feature a cross-section of policy and business leaders, including an analysis of the impact of the 2010 midterm elections on energy reform prospects in 2011 and a senior-level Congressional staff discussion on the prospects for energy reform legislation next year. Session topics include a panel discussion on “Clean Energy Investment: The Current Environment and Parallels to the Telecommunications Revolution.”
Confirmed speakers include CGC President and former FCC Chairman Reed Hundt; Mike Eckhart, President, ACORE; Tom Casey, CEO, Current Group, LLC; Dan Etsy, CGC Policy Advisor and Director, Yale Center for Environmental Law and Policy; Bracken Hendricks, Senior Fellow, Center for American Progress and CGC Board Member; Gerry Waldron, Counsel, CGC and Partner, Covington and Burling; Ken Berlin, General Counsel, CGC; Dan Reicher, Google, Director of Climate Change and Energy Initiatives; Richard Kauffman, former CEO, Good Energies and CFO of COFRA Holdings; Kellie Donnelly, Republican Deputy Chief Counsel for the Senate Environment and Natural Resources Committee; Bill Parsons, Legislative Director, Rep. Chris Van Hollen (D-Md.); Darren Springer, Legislative Assistant, Senator Bernie Sanders (I-Vt.) and Mark Brunner, National Security Advisor, Senator Mark Warner (D-Va.).
The conference is open to the press and lunch will be served. (A final agenda will be circulated shortly.) Media interested in attending, please contact Sarah Davidson, CGC, at sarahdavidson635@gmail.com, 202-577-1605, or Mary Greczyn at marygreczyn@gmail.com, 202-725-2495. Skadden, Arps is located at 700 14th Street, NW, Main Conference Room, 11th Floor, Washington, DC 20005.
"Coalition for Green Capital Applauds Lake Erie Energy Development Project"
September 14, 2010
Washington, DC
The Coalition for Green Capital (CGC) today lauded the announcement by the Lake Erie Energy Development Corporation (LEEDCo) that is moving forward with plans to develop an offshore wind farm on Lake Erie, the first of its kind in North America. One of the partners in the selected development team, Cavallo Great Lakes Ohio Wind LLC, is a supporting member of the CGC.
The other partner companies announced today by LEEDCo are Bechtel Development Company, Inc. (Bechtel), and Great Lakes Wind Energy LLC (GLWEnergy). CGC Chief Executive Officer Reed Hundt called the project a major step forward in developing a clean energy industry in the US. "The Lake Erie Wind Farm represents the type of project the CGC supports and would like to see more of," said Hundt, "we are delighted that a member of our coalition is involved with this commendable project."
The Lake Erie Wind Farm project, which is tentatively scheduled to commence construction in 2012, will be a 20 megawatt (MW), five-turbine pilot wind farm approximately ten miles offshore of Cleveland, OH. By 2020 LEEDCo hopes the wind farm will generate 1,000 MW of renewable energy from lake winds and due to the large nature of the project, it is expected that the cost of the offshore wind energy will be reduced to market rates.
"Coalition for Green Capital CEO Hundt Testifies on need for International Green Bank"
July 27, 2010
Washington, DC
Coalition for Green Capital (CGC) CEO Reed Hundt, former Chairman of the Federal Communications Commission, told a House Foreign Affairs subcommittee today that creating an international green bank (IGB) to provide low-cost financing to developing countries "would go a long way towards ensuring that growth in developing countries is comparable with our goals of reducing carbon emissions on a worldwide basis." Mr. Hundt testified before the Foreign Affairs Subcommittee on Asia, the Pacific and the Global Environment at a hearing on "Climate Change Finance: Providing Assistance for Vulnerable Countries." The full text of his testimony is available at: http://www.coalitionforgreencapital.com/testimonials.html.
"Given the overall opportunity identified by the CGC and the shortcomings in existing institutions, our Coalition believes that there would be tremendous value in forming an IGB similar to the EIT, CEDA, and green banks proposed in Great Britain and other countries that would focus specifically on mobilizing low-cost financing for high-impact, national and regional energy projects in developing countries," Mr. Hundt testified. CGC has been working with like-minded groups in China, Brazil, India and Europe to develop the concept of an IGB, including funding options.
Coalition for the Green Bank Claims Green Bank/ Clean Energy Deployment Administration Will Offset Energy Cost Increases, Job Losses, Contradicting ACCF-NAM Commissioned Study”
August 14, 2009
Washington, DC
The Coalition for the Green Bank today refuted claims made in an economic impact study commissioned by the American Council for Capital Formation (ACCF) and the National Association of Manufacturers (NAM) asserting that the American Clean Energy and Security Act would result in significant job losses and steep increases in the price of electricity and natural gas for several industrial states. According to the Coalition, the ACCF-NAM study does not take into account the expected reduction of electricity costs as a result of the Green Bank/Clean Energy Deployment Administration (CEDA), as proposed in the Act...
“Green Bank/ Clean Energy Deployment Administration Can Protect Consumers from Any Electricity Price Increases. According to Coalition for the Green Bank”
August 4, 2009
Washington, DC
According to the Coalition for the Green Bank, the Energy Information Administration (EIA) draft analysis issued today makes the case for chartering a Green Bank/Clean Energy Deployment Administration already included in the House energy bill and the Senate Energy Committee bill. The EIA, while projecting electricity price increases to U.S. electricity customers under climate legislation passed by the House last month, itself admitted that it did not analyze the effects of CEDA and that CEDA "may have the most significant potential to alter the reported results."
“EIA is exactly right,” stated Reed Hundt, Co-Chair of the Coalition for the Green Bank, “CEDA's low-cost financing can protect consumers state by state from any electricity price increases as well as create millions of new jobs converting our nation from carbon to clean as the basis of our economy.”
"Coalition for Green Capital CEO Hundt Testifies on Need for International Green Bank"
July 27, 2010
Washington, DC
Coalition for Green Capital (CGC) CEO Reed Hundt, former Chairman of the Federal Communications Commission, told a House Foreign Affairs subcommittee today that creating an international green bank (IGB) to provide low-cost financing to developing countries “would go a long way towards ensuring that growth in developing countries is comparable with our goals of reducing carbon emissions on a worldwide basis.”
CGC is a non-profit dedicated to developing and advocating tax and finance policies that help convert the U.S. and global economies from carbon emissions-intensive practices to methods that are clean, renewable, and affordable. In line with his testimony on the need for an international green bank, CGC is working to establish state, national and international banks, financing authorities or trusts to furnish low cost financing for clean energy and energy efficiency projects.
Mr. Hundt testified before the Foreign Affairs Subcommittee on Asia, the Pacific and the Global Environment at a hearing on “Climate Change Finance: Providing Assistance for Vulnerable Countries.” The full text of his testimony is available at: http://www.coalitionforgreencapital.com/testimonials.html.
CGC is advocating the creation of a not-for-profit corporation called the Energy Independence Trust or “EIT” to support deployment of commercially ready clean energy and energy efficiency projects. The EIT would help channel charitable contributions as a “patriotic corporation” similar to the Red Cross and would be able to loan to state commercial banks, particularly crucial at a time when credit for small projects is evaporating. The EIT would cover its initial overhead costs through funding sources other than the federal Treasury, would not be part of the government and would not be funded with taxpayer appropriations.
“Given the overall opportunity identified by the CGC and shortcomings in existing institutions, our Coalition believes that there would be tremendous value in forming an IGB similar to the EIT, CEDA and green banks proposed in Great Britain and other countries that would focus specifically on mobilizing low-cost financing for high-impact, national and regional energy projects in developing countries,” Mr. Hundt testified. CGC has been working with like-minded groups in China, Brazil and Europe to develop the concept of an IGB, including funding options.
"Coalition for the Green Bank Congratulates House Members for Passage of American Clean Energy and Security Act of 2009"
June 26, 2009
Washington, DC
The Coalition for the Green Bank today congratulates Speaker of the House Nancy Pelosi, Representative Henry A. Waxman, Chairman of the House Committee on Energy and Commerce Committee, Representative Chris Van Hollen, and Representatives Edward Markey, John D Dingell and Jay Inslee on the passage of the American Clean Energy and Security Act of 2009 (H.R. 2454), an Act that will steer America towards a clean and renewable energy future.
"Coalition for the Green Bank Praises House Members for Moving American Clean Energy and Security Act of 2009 to the House Rules Committee"
June 23, 2009
Washington, DC
The Coalition for the Green Bank today applauded the movement of the American Clean Energy and Security Act of 2009 (H.R. 2454) from the House Energy & Commerce Committee to the House Rules Committee, signifying a major step towards a vote that will determine the clean and renewable energy future of the US. Included in the Act submitted to the Rules Committee is the creation of the Clean Energy Deployment Administration (CEDA or Administration). This is the Green Bank the Coalition has sought. An independent corporation that will be wholly owned by the United States, the Administration will be charged with the sole purpose of providing the financing support necessary to accelerate the deployment of a wide range of clean energy technologies, including breakthrough technologies.
“Coalition for Green Bank Congratulates House Energy and Commerce Committee on Moving Comprehensive Climate and Energy Bill Forward, Advancing the Future of Green Energy Sector”
May 22, 2009
Washington, DC
The Coalition for Green Bank applauded the House Energy and Commerce Committee’s passage of its sweeping legislation that would overhaul U.S. energy and global warming policy. The American Clean Energy and Security Act (H.R. 2454) would also create a Clean Energy Deployment Administration within the Energy Department. The Coalition recognizes the leadership of Committee Chairman Henry A. Waxman (D-CA) and Subcommittee Chairman Ed Markey (D-MA), as well Committee Chairman Emeritus John Dingell (D-MI) and the hard work of Rep. Jay Inslee (D-WA), and Rep. Bart Gordon of (D-TN) and the votes of 33 members of the Committee. The Coalition cites this vote as a yet another significant milestone in the effort to transition the US to a clean energy future, which it deems critical to creating new jobs, energy independence, and environmental and economic health.
“Clean Energy Deployment Administration Amendment to House Climate and Energy Bill is Significant Milestone in the Future of Green Energy Sector According to Coalition for Green Bank”
May 19, 2009
Washington, DC
The Coalition for Green Bank applauded the amendment to the House energy and climate bill, the American Clean Energy and Security Act (H.R. 2454), that would create a Clean Energy Deployment Administration within the Energy Department. The Coalition recognizes the leadership of Committee Chairman Henry A. Waxman (D-CA) and Subcommittee Chairman Ed Markey (D-MA), as well Committee Chairman Emeritus John Dingell (D-MI), Rep. Jay Inslee (D-WA), and Rep. Bart Gordon of (D-TN) who sponsored the amendment based on legislation introduced by Senator Jeff Bingaman (D-NM) in the Senate and Rep. Inslee in the House. The Coalition cites today’s action as a significant victory in the effort to transition the US to a clean energy future, which it deems critical to creating new jobs, energy independence, and environmental and economic health.
“Proposed Clean Energy Deployment Administration Signals Senate’s Commitment to Growth of Green Energy Sector, according to Coalition for Green Bank”
May 13, 2009, Washington DC
The Coalition for Green Bank recognizes the Clean Energy Deployment Administration, recently introduced by Committee chairman Jeff Bingaman (D-New Mexico) and ranking member Lisa Murkowski (R-Alaska) as a bi-partisan commitment to reducing America’s reliance on foreign sources of energy while lowering the amount of greenhouse gases we emit as a country. Introduced by the Senate Energy and Natural Resources Committee, this legislation would create an independent agency within the Energy Department, designed to provide credit in the form of loans and loan guarantees to support green technologies that reduce carbon dioxide emissions and help diversify the US energy supply.
“Coalition for Green Bank Praises Congressmen Inslee and Israel for Reintroduction of the 21st Century Energy Technology Deployment Act” Congressional Proposals, Gore Endorsement of Green Bank Seen as Positive Steps Towards Growth of Green Energy Sector
May 04, 2009, Washington DC
The Coalition for Green Bank today applauded the reintroduction of the 21st Century Energy Technology Deployment Act by Rep. Jay Inslee (D-WA) and Rep. Steve Israel (D-NY) before the House, citing it as further validation of the desire for the U.S. to move forward with the development of renewable energy, which it deems critical to U.S. energy independence, and environmental and economic health. The Inslee/Israel proposal would promote the development and deployment of clean energy technologies through the improvement of existing programs and the establishment of a self-sustaining Clean Energy Deployment Administration, which would promote access to affordable financing for clean energy and energy efficiency technologies.
"Industry Coalition Hails U.S. Congress Green Bank Act: Green Bank Financing of Clean Energy and Efficiency Projects Will Jump-Start New Era of Private Investment in Critical Clean Energy Infrastructure”
March 24, 2009, Washington DC
The Coalition for Green Bank applauds the introduction today by Congressman Chris Van Hollen of a bill that establishes the Green Bank to catalyze the financing of clean energy projects and energy efficiency projects. The Coalition for Green Bank (CGB) is a consortium of energy industry leaders including renewable resource developers, original equipment manufacturers, investors, financial advisors and consultants dedicated to unleashing a new era of private investment in the green energy for clean and sustainable energy and jobs, and economic development.
financing available in the private sector and assisting the development of certain private sector financing markets" Ken Marks -Managing Director at Morgan Stanley.
June 7, 2011
Washington, DC
Today, the Connecticut General Assembly passed new energy legislation that puts the state in the forefront of state efforts to convert to a clean energy economy. Governor Dannel Malloy and the Connecticut General Assembly have demonstrated true leadership in passing this landmark bill, Senate Bill 1243.
“Connecticut has demonstrated that it is serious about putting people to work and lowering the cost of essential services for its residents,” said Coalition for Green Capital CEO Reed Hundt. “I applaud the vision and leadership of Governor Malloy and Commissioner Esty. This legislation will serve as a model for the nation.”
While many states are retreating from efforts to work towards a cleaner, cheaper, and more self-reliant energy future, Connecticut has taken the lead by passing bi-partisan legislation that:
- Reconstitutes the state’s existing Clean Energy Fund to become a "Green Bank," called the Clean Energy Finance and Investment Authority (CEFIA). This Green Bank will leverage scarce government dollars and provide low cost financing to clean energy projects and increased financing to energy efficiency projects.
- Creates a portfolio of incentives for clean energy and energy efficiency projects in the State.
- Creates a Department of Energy and Environmental Protection (DEEP), which consolidates energy and environmental planning and implementation by merging the existing disparate elements of energy policy scattered across Connecticut state government.
- Creates a renewable energy credit incentive program supporting construction of hundreds of megawatts of zero-emission distributed renewable energy systems like solar and wind.
- Adopts strong efficiency standards for televisions and other appliances.
- Begins an energy efficiency program that will target state buildings, allowing Governor Malloy’s administration to lead by example in the area of energy efficiency
- Takes steps to lower Connecticut resident's energy bills, while also reducing the state’s dependence on foreign oil.
"CGC Lauds Appointment of Dan Esty to Commissioner of Department of Energy and Environmental Protection"
February 14, 2011
Washington, DC
Washington DC, February 14, 2011 – The Coalition for Green Capital (CGC) released the following statement today in response to the announcement made last week that Governor Dannel Malloy of Connecticut has named Dan Esty Commissioner of the new Department of Energy and Environmental Protection (DEEP): "Dan Esty's familiarity with issues around trade and the environment, competitiveness, governance and development will serve him well in his new position. Under Esty's guidance, the state of Connecticut has been given an opportunity to provide innovative leadership towards achieving a clean energy future in the United States."
Prior to Esty's appointment (full announcement can be read here) he served as a Strategic Advisor to the Coalition for Green Capital, a non-profit organization based out of Washington, DC. Reed Hundt, CEO of the Coalition for Green Capital, said, "Although we will miss having the invaluable wisdom and insights Esty has consistently provided to our organization, the CGC rests assured knowing that he will bring his expertise and vast knowledge to the position in order to serve the people of Connecticut and the people of the United States."
Governor Malloy formed the new DEEP Agency in order to consolidate Connecticut's various energy branches into one centralized unit. Esty will be responsible for pollution control, energy policy, land use, oceans, conservation and parks within the state.
"CGC Lauds Senator Bingaman's Energy Agenda"
January 31, 2011
Washington, DC
Coalition for Green Capital (CGC) CEO Reed Hundt had the following response to the speech Senator Jeff Bingaman gave today at the National Press Club
Senator Bingaman set out a bold agenda for the next Congress that meets President Obama's challenge of making the U.S. more competitive in the global economy and encourages the innovation that makes the United States a world leader.
Senator Bingaman proposed key legislative initiatives, including a Clean Energy Deployment Administration (CEDA) that is aimed at bridging the 'valley of death' for cutting-edge and innovative energy projects. His leadership on CEDA has elevated the clean energy debate by focusing on the crucial role played by low-cost, long-term financing of clean energy projects.
"Coalition for Green Capital Unveils Energy Reform Roadmap, Proposals Designed to Change the Conversation on Clean Energy in 2011"
November 16, 2010
Washington, DC
The Coalition for Green Capital (CGC) today released project 2011, an energy policy reform roadmap for legislation designed to reduce the cost of clean energy and create jobs in 2011. The plan recognizes the historic opportunity faced by the 112th Congress to refocus the debate on clean energy deployment. To harness the power of both public policy innovation and private sector investment, Project 2011 tees up legislative proposals as a framework for discussion in the next year. The proposal focuses on: (1) policy incentives to reduce the cost of capital for clean energy projects; (2) regulatory reform to increase demand for clean energy and create greater financial predictability; and, (3) new competitive regional infrastructure to ensure sustained economic development. CGC CEO Reed Hundt, former chairman of the Federal Communications Commission, likened the proposals to a "Telecom Act for Energy." Mr. Hundt headed the FCC when the Telecommunications Act of 1996 was passed, which removed regulatory roadblocks to usher in a revolution in information and communications technologies. "Just as the Telecom Act forged a consensus across party lines to modernize outmoded communications regulations, a similar 'smart policy' makeover is needed today for energy," said Mr. Hundt. "In order to grow, the clean energy industry requires regulatory reform, including policies that will make clean energy cheaper and clean energy markets more predictable to create jobs, drive technology innovation, protect the environment and support economic growth."
Specifically, Project 2011 details a series of proposals that would:
- Create a non-profit lending institution, the Energy Independence Trust, that could borrow money from the U.S. Treasury, as well as the private sector, to address the access to capital challenges that face U.S. clean energy firms and hamper their international competitiveness.
- Propose tax policy solutions to help bolster market demand, through measures such as a long-term tax "holiday" for qualifying entities, similar to the considerations give to e-commerce in the 1990's
- Remove barriers to entry in the clean energy sector, to create more certainty in market demand.
Project 2011 was unveiled today at a conference in Washington, D.C. cosponsored by CGC, the Center for American Progress (CAP) and the American Council on Renewable Energy (ACORE) on "The Future of Energy Reform."
"CGC Co-Hosting Event with Center for American Progress, American Council on Renewable Energy"
November 10, 2010
Washington, DC
The Coalition for Green Capital (CGC) is teaming up with the Center for American Progress (CAP) and the American Council on Renewable Energy (ACORE) to host “The Future of Energy Reform,” a conference on November 16 on the “art of the possible” for energy legislation in the 112th Congress.
“The Future of Energy Reform” will be held November 16 from 9 a.m. to 1:30 p.m. at the Washington, D.C. office of Skadden, Arps, Slate, Meagher, and Flom. At the conference, CGC will unveil its Project 2011 recommendations, which will provide a baseline for the conference discussions.
In addition, the program will feature a cross-section of policy and business leaders, including an analysis of the impact of the 2010 midterm elections on energy reform prospects in 2011 and a senior-level Congressional staff discussion on the prospects for energy reform legislation next year. Session topics include a panel discussion on “Clean Energy Investment: The Current Environment and Parallels to the Telecommunications Revolution.”
Confirmed speakers include CGC President and former FCC Chairman Reed Hundt; Mike Eckhart, President, ACORE; Tom Casey, CEO, Current Group, LLC; Dan Etsy, CGC Policy Advisor and Director, Yale Center for Environmental Law and Policy; Bracken Hendricks, Senior Fellow, Center for American Progress and CGC Board Member; Gerry Waldron, Counsel, CGC and Partner, Covington and Burling; Ken Berlin, General Counsel, CGC; Dan Reicher, Google, Director of Climate Change and Energy Initiatives; Richard Kauffman, former CEO, Good Energies and CFO of COFRA Holdings; Kellie Donnelly, Republican Deputy Chief Counsel for the Senate Environment and Natural Resources Committee; Bill Parsons, Legislative Director, Rep. Chris Van Hollen (D-Md.); Darren Springer, Legislative Assistant, Senator Bernie Sanders (I-Vt.) and Mark Brunner, National Security Advisor, Senator Mark Warner (D-Va.).
The conference is open to the press and lunch will be served. (A final agenda will be circulated shortly.) Media interested in attending, please contact Sarah Davidson, CGC, at sarahdavidson635@gmail.com, 202-577-1605, or Mary Greczyn at marygreczyn@gmail.com, 202-725-2495. Skadden, Arps is located at 700 14th Street, NW, Main Conference Room, 11th Floor, Washington, DC 20005.
"Coalition for Green Capital Applauds Lake Erie Energy Development Project"
September 14, 2010
Washington, DC
The Coalition for Green Capital (CGC) today lauded the announcement by the Lake Erie Energy Development Corporation (LEEDCo) that is moving forward with plans to develop an offshore wind farm on Lake Erie, the first of its kind in North America. One of the partners in the selected development team, Cavallo Great Lakes Ohio Wind LLC, is a supporting member of the CGC.
The other partner companies announced today by LEEDCo are Bechtel Development Company, Inc. (Bechtel), and Great Lakes Wind Energy LLC (GLWEnergy). CGC Chief Executive Officer Reed Hundt called the project a major step forward in developing a clean energy industry in the US. "The Lake Erie Wind Farm represents the type of project the CGC supports and would like to see more of," said Hundt, "we are delighted that a member of our coalition is involved with this commendable project."
The Lake Erie Wind Farm project, which is tentatively scheduled to commence construction in 2012, will be a 20 megawatt (MW), five-turbine pilot wind farm approximately ten miles offshore of Cleveland, OH. By 2020 LEEDCo hopes the wind farm will generate 1,000 MW of renewable energy from lake winds and due to the large nature of the project, it is expected that the cost of the offshore wind energy will be reduced to market rates.
"Coalition for Green Capital CEO Hundt Testifies on need for International Green Bank"
July 27, 2010
Washington, DC
Coalition for Green Capital (CGC) CEO Reed Hundt, former Chairman of the Federal Communications Commission, told a House Foreign Affairs subcommittee today that creating an international green bank (IGB) to provide low-cost financing to developing countries "would go a long way towards ensuring that growth in developing countries is comparable with our goals of reducing carbon emissions on a worldwide basis." Mr. Hundt testified before the Foreign Affairs Subcommittee on Asia, the Pacific and the Global Environment at a hearing on "Climate Change Finance: Providing Assistance for Vulnerable Countries." The full text of his testimony is available at: http://www.coalitionforgreencapital.com/testimonials.html.
"Given the overall opportunity identified by the CGC and the shortcomings in existing institutions, our Coalition believes that there would be tremendous value in forming an IGB similar to the EIT, CEDA, and green banks proposed in Great Britain and other countries that would focus specifically on mobilizing low-cost financing for high-impact, national and regional energy projects in developing countries," Mr. Hundt testified. CGC has been working with like-minded groups in China, Brazil, India and Europe to develop the concept of an IGB, including funding options.
Coalition for the Green Bank Claims Green Bank/ Clean Energy Deployment Administration Will Offset Energy Cost Increases, Job Losses, Contradicting ACCF-NAM Commissioned Study”
August 14, 2009
Washington, DC
The Coalition for the Green Bank today refuted claims made in an economic impact study commissioned by the American Council for Capital Formation (ACCF) and the National Association of Manufacturers (NAM) asserting that the American Clean Energy and Security Act would result in significant job losses and steep increases in the price of electricity and natural gas for several industrial states. According to the Coalition, the ACCF-NAM study does not take into account the expected reduction of electricity costs as a result of the Green Bank/Clean Energy Deployment Administration (CEDA), as proposed in the Act...
“Green Bank/ Clean Energy Deployment Administration Can Protect Consumers from Any Electricity Price Increases. According to Coalition for the Green Bank”
August 4, 2009
Washington, DC
According to the Coalition for the Green Bank, the Energy Information Administration (EIA) draft analysis issued today makes the case for chartering a Green Bank/Clean Energy Deployment Administration already included in the House energy bill and the Senate Energy Committee bill. The EIA, while projecting electricity price increases to U.S. electricity customers under climate legislation passed by the House last month, itself admitted that it did not analyze the effects of CEDA and that CEDA "may have the most significant potential to alter the reported results."
“EIA is exactly right,” stated Reed Hundt, Co-Chair of the Coalition for the Green Bank, “CEDA's low-cost financing can protect consumers state by state from any electricity price increases as well as create millions of new jobs converting our nation from carbon to clean as the basis of our economy.”
"Coalition for Green Capital CEO Hundt Testifies on Need for International Green Bank"
July 27, 2010
Washington, DC
Coalition for Green Capital (CGC) CEO Reed Hundt, former Chairman of the Federal Communications Commission, told a House Foreign Affairs subcommittee today that creating an international green bank (IGB) to provide low-cost financing to developing countries “would go a long way towards ensuring that growth in developing countries is comparable with our goals of reducing carbon emissions on a worldwide basis.”
CGC is a non-profit dedicated to developing and advocating tax and finance policies that help convert the U.S. and global economies from carbon emissions-intensive practices to methods that are clean, renewable, and affordable. In line with his testimony on the need for an international green bank, CGC is working to establish state, national and international banks, financing authorities or trusts to furnish low cost financing for clean energy and energy efficiency projects.
Mr. Hundt testified before the Foreign Affairs Subcommittee on Asia, the Pacific and the Global Environment at a hearing on “Climate Change Finance: Providing Assistance for Vulnerable Countries.” The full text of his testimony is available at: http://www.coalitionforgreencapital.com/testimonials.html.
CGC is advocating the creation of a not-for-profit corporation called the Energy Independence Trust or “EIT” to support deployment of commercially ready clean energy and energy efficiency projects. The EIT would help channel charitable contributions as a “patriotic corporation” similar to the Red Cross and would be able to loan to state commercial banks, particularly crucial at a time when credit for small projects is evaporating. The EIT would cover its initial overhead costs through funding sources other than the federal Treasury, would not be part of the government and would not be funded with taxpayer appropriations.
“Given the overall opportunity identified by the CGC and shortcomings in existing institutions, our Coalition believes that there would be tremendous value in forming an IGB similar to the EIT, CEDA and green banks proposed in Great Britain and other countries that would focus specifically on mobilizing low-cost financing for high-impact, national and regional energy projects in developing countries,” Mr. Hundt testified. CGC has been working with like-minded groups in China, Brazil and Europe to develop the concept of an IGB, including funding options.
"Coalition for the Green Bank Congratulates House Members for Passage of American Clean Energy and Security Act of 2009"
June 26, 2009
Washington, DC
The Coalition for the Green Bank today congratulates Speaker of the House Nancy Pelosi, Representative Henry A. Waxman, Chairman of the House Committee on Energy and Commerce Committee, Representative Chris Van Hollen, and Representatives Edward Markey, John D Dingell and Jay Inslee on the passage of the American Clean Energy and Security Act of 2009 (H.R. 2454), an Act that will steer America towards a clean and renewable energy future.
"Coalition for the Green Bank Praises House Members for Moving American Clean Energy and Security Act of 2009 to the House Rules Committee"
June 23, 2009
Washington, DC
The Coalition for the Green Bank today applauded the movement of the American Clean Energy and Security Act of 2009 (H.R. 2454) from the House Energy & Commerce Committee to the House Rules Committee, signifying a major step towards a vote that will determine the clean and renewable energy future of the US. Included in the Act submitted to the Rules Committee is the creation of the Clean Energy Deployment Administration (CEDA or Administration). This is the Green Bank the Coalition has sought. An independent corporation that will be wholly owned by the United States, the Administration will be charged with the sole purpose of providing the financing support necessary to accelerate the deployment of a wide range of clean energy technologies, including breakthrough technologies.
“Coalition for Green Bank Congratulates House Energy and Commerce Committee on Moving Comprehensive Climate and Energy Bill Forward, Advancing the Future of Green Energy Sector”
May 22, 2009
Washington, DC
The Coalition for Green Bank applauded the House Energy and Commerce Committee’s passage of its sweeping legislation that would overhaul U.S. energy and global warming policy. The American Clean Energy and Security Act (H.R. 2454) would also create a Clean Energy Deployment Administration within the Energy Department. The Coalition recognizes the leadership of Committee Chairman Henry A. Waxman (D-CA) and Subcommittee Chairman Ed Markey (D-MA), as well Committee Chairman Emeritus John Dingell (D-MI) and the hard work of Rep. Jay Inslee (D-WA), and Rep. Bart Gordon of (D-TN) and the votes of 33 members of the Committee. The Coalition cites this vote as a yet another significant milestone in the effort to transition the US to a clean energy future, which it deems critical to creating new jobs, energy independence, and environmental and economic health.
“Clean Energy Deployment Administration Amendment to House Climate and Energy Bill is Significant Milestone in the Future of Green Energy Sector According to Coalition for Green Bank”
May 19, 2009
Washington, DC
The Coalition for Green Bank applauded the amendment to the House energy and climate bill, the American Clean Energy and Security Act (H.R. 2454), that would create a Clean Energy Deployment Administration within the Energy Department. The Coalition recognizes the leadership of Committee Chairman Henry A. Waxman (D-CA) and Subcommittee Chairman Ed Markey (D-MA), as well Committee Chairman Emeritus John Dingell (D-MI), Rep. Jay Inslee (D-WA), and Rep. Bart Gordon of (D-TN) who sponsored the amendment based on legislation introduced by Senator Jeff Bingaman (D-NM) in the Senate and Rep. Inslee in the House. The Coalition cites today’s action as a significant victory in the effort to transition the US to a clean energy future, which it deems critical to creating new jobs, energy independence, and environmental and economic health.
“Proposed Clean Energy Deployment Administration Signals Senate’s Commitment to Growth of Green Energy Sector, according to Coalition for Green Bank”
May 13, 2009, Washington DC
The Coalition for Green Bank recognizes the Clean Energy Deployment Administration, recently introduced by Committee chairman Jeff Bingaman (D-New Mexico) and ranking member Lisa Murkowski (R-Alaska) as a bi-partisan commitment to reducing America’s reliance on foreign sources of energy while lowering the amount of greenhouse gases we emit as a country. Introduced by the Senate Energy and Natural Resources Committee, this legislation would create an independent agency within the Energy Department, designed to provide credit in the form of loans and loan guarantees to support green technologies that reduce carbon dioxide emissions and help diversify the US energy supply.
“Coalition for Green Bank Praises Congressmen Inslee and Israel for Reintroduction of the 21st Century Energy Technology Deployment Act” Congressional Proposals, Gore Endorsement of Green Bank Seen as Positive Steps Towards Growth of Green Energy Sector
May 04, 2009, Washington DC
The Coalition for Green Bank today applauded the reintroduction of the 21st Century Energy Technology Deployment Act by Rep. Jay Inslee (D-WA) and Rep. Steve Israel (D-NY) before the House, citing it as further validation of the desire for the U.S. to move forward with the development of renewable energy, which it deems critical to U.S. energy independence, and environmental and economic health. The Inslee/Israel proposal would promote the development and deployment of clean energy technologies through the improvement of existing programs and the establishment of a self-sustaining Clean Energy Deployment Administration, which would promote access to affordable financing for clean energy and energy efficiency technologies.
"Industry Coalition Hails U.S. Congress Green Bank Act: Green Bank Financing of Clean Energy and Efficiency Projects Will Jump-Start New Era of Private Investment in Critical Clean Energy Infrastructure”
March 24, 2009, Washington DC
The Coalition for Green Bank applauds the introduction today by Congressman Chris Van Hollen of a bill that establishes the Green Bank to catalyze the financing of clean energy projects and energy efficiency projects. The Coalition for Green Bank (CGB) is a consortium of energy industry leaders including renewable resource developers, original equipment manufacturers, investors, financial advisors and consultants dedicated to unleashing a new era of private investment in the green energy for clean and sustainable energy and jobs, and economic development.
financing available in the private sector and assisting the development of certain private sector financing markets" Ken Marks -Managing Director at Morgan Stanley.
