Clean Energy Project Development and Finance

(Formerly Law 774) This case study-oriented course will focus on the critical skills needed to evaluate, develop, finance (on a non-recourse basis), and complete grid-scale clean energy projects. This course will be essentially the same as in the past four years (when it was cross-listed as GSB GEN 335). This course is highly multi-disciplinary, both in terms of substance and student mix. The course has consistently had a significant mix of business, engineering, law and earth science students. As in the past, the course will focus on the issues associated with the business of developing, financing, constructing and operating grid-scale clean energy projects. The course will focus on what a project developer or lender (i.e., in either case, the business person) needs to know to develop and finance successful projects. The project development business--far more than many other businesses such as tech, manufacturing, consumer, services, retail or transportation--inherently involves a VERY long list of highly-germane and critical legal issues. We address the legal issues from the perspective of what a business person needs to understand in order to navigate them and complete a project. The primary course materials will be documents from several representative projects -- e.g., solar, wind, storage, carbon capture, transmission, combined heat & power -- covering key areas including market and feasibility studies, environmental permitting and regulatory decisions, financial disclosure from bank and bond transactions, and construction, input, and offtake contracts. For virtually every clean energy project, legal documents and financial/business models tend to highly customized. By examining actual projects and transactions we can learn how developers, financiers, and lawyers work to get deals over the finish line--deals that meet the demands of the market, the requirements of the law, and (sometimes) broader societal goals, in particular climate change, economic competitiveness, and energy security. Elements used in grading: Class Participation (35 %), Lecture-based Assignment (15 %), Group Project (50 %). Absences affect grade. This class is limited to 36 students, with an effort made to have students from SLS, GSB, engineering and earth sciences. (All students need to be graduate students.) CONSENT APPLICATION: To apply for this course, students must complete and submit a Consent Application Form available on the SLS website (Click Courses at the bottom of the homepage and then click Consent of Instructor Forms). Students are encouraged to apply as early as possible. See Consent Application Form for instructions and submission deadline.