Leading experts from industry, finance, and government will provide insights into the current financing landscape for renewable energy. What new structures are emerging to support renewable energy development? What financing barriers remain? What changes in tax policy are anticipated? These questions and more will be explored.
Opening remarks by:
George E. Pataki, former Governor of the State of New York; Chairman of the Pataki-Cahill Group; Counsel, Chadbourne & Parke LLP
Neil Auerbach (LLM ’84), CEO, Hudson Clean Energy Partners
Steve Corneli, SVP, Policy & Strategy at NRG Energy
Eli Katz (LLM ’04), Partner, Chadbourne & Parke LLP
Dana Sands, Managing Director at TAG Energy Partners
Jason Segal, Managing Director, Aldwych Capital Partners and Managing Partner, Environment and Renewables Group
Sponsored by Chadbourne & Parke LLP
Wednesday, September 10, 2014 from 6:30 PM to 8:00 PM (EST)
Wine and cheese reception to follow.
Lipton Hall, D’Agostino Hall
108 W 3rd St
New York, NY 10012
Governor George Pataki
Governor George E. Pataki is the founder and Chairman of the Pataki-Cahill Group. The Governor joined the law firm of Chadbourne and Parke, LLP, in 2007 as Counsel, focusing on their energy, environmental and infrastructure practice areas. He also served as United States Delegate to the 62nd Session of the General Assembly of the United Nations. In addition, he co-chaired the Council on Foreign Relations Independent Task Force on Climate Change.
Prior to starting the Pataki-Cahill Group, he served three terms as the 53rd governor of New York State, from 1995 through 2006. At the end of his twelve years as Governor, New York State had its lowest rate of welfare dependency in over 40 years, its lowest rate of violent crime in over 40 years, had cut state taxes by over $140 billion, had almost 700,000 more private sector jobs, its highest credit rating in over 40 years, and billions of dollars in surplus. Governor Pataki also led New York State through the attacks of September 11th and its aftermath.
Widely known for his protection of over one million acres of open space, the most in New York State’s history, Governor Pataki balanced his pro-business philosophy with award-winning, cutting-edge policies in the renewable energy and environmental fields. The Governor implemented the first integrated strategy for creating clean, renewable transportation networks utilizing alternative fuels, including tax and other incentives for both consumers and manufacturers, grants for alternative retail fuel distribution systems and the exemption of renewable fuels from all State and local taxes.
Governor Pataki also established New York’s leading brownfield program spurring development in cities across the state by creating a $200 million fund to support the redevelopment of contaminated sites and instituting a $135 million tax credit program to encourage public private investment in brownfields. He instituted the nation’s green buildings tax credit incentive program which led to the first building of the first high-rise green office building in the world, the first high-rise green residential building in the United States and a host of other green projects currently under development. Most notably, through his determined leadership Governor Pataki ensured that the redeveloped World Trade Center site will be a global example of green building design.
In addition, Governor Pataki worked to create public private partnerships for clean energy generation in New York State resulting in one of the largest industrial solar power arrays in the U.S. and one of the largest wind-power arrays in the Eastern United States. He introduced net metering to encourage alternative energy production in homes and established the nation’s first business park devoted to the development of clean energy technologies. Governor Pataki also established the Albany Nanotech Center for Excellence and the nation’s most innovative renewable portfolio standard to ensure that New York rate payers were supplied with the most cost-effective renewable energy.
Among numerous other awards, BusinessWeek named Governor Pataki one of the top 20 “individuals who stand out for their efforts to cut gases that cause global warming” in the world. Also, in 2006, Vanity Fair called him a governor who “gets it” in its inaugural “Green Issue” for his efforts concerning the environment.
Governor Pataki serves on the Advisory Council of global investment bank Greentech Capital Advisors. He serves on numerous boards, including: Ecological, a sustainable real estate development firm; Cosan, one of Brazil’s largest private companies with a focus on ethanol and sugar production and Clearlake Capital and MidOcean Partners, both private equity firms.
Governor Pataki was a partner in the New York law firm Plunkett & Jaffe until 1987. He was elected mayor of Peekskill, New York in 1981, and served in the New York State Legislature as an assemblyman and then as state senator from 1985 to 1994, before becoming governor. The Governor and his wife Libby reside in Garrison, NY. They have four children and one grandson.
Neil Z. Auerbach – Chief Executive Officer and Managing Partner at Hudson Clean Energy Partners
Mr. Auerbach is founder and Managing Partner of Hudson. Formerly, Mr. Auerbach was a Partner at Goldman Sachs & Co., where he co-founded the U.S. alternative energy investment business within the Special Situations Group and led several of Goldman’s most successful investments in renewable energy. Mr. Auerbach founded and managed several other businesses at Goldman during his seven year tenure with the firm, supervising over 30 professionals in the U.S. and Europe, and presiding over a $3 Billion balance sheet. Mr. Auerbach worked in the firm’s Debt Capital Markets and Credit Derivatives units before joining the Special Situations Group in December 2003.
From 1997-1999, Mr. Auerbach was Managing Director and Head of Structured Capital Markets at Barclays Capital. Mr. Auerbach was at Morgan Stanley from 1995-1997 as Principal (Co-Head) of a joint venture between the firm’s Derivatives & Debt Capital Markets groups. Succeeding his tenure as tax attorney with McDermott, Will & Emery (1991-1992, Partner), Shearman & Sterling (1985-1991, Associate) and Cahill Gordon & Reindel (1984-1985, Associate), Mr. Auerbach served as Branch Chief, Assistant to the Associate Chief Counsel of the Internal Revenue Service (1992-1994).
Mr. Auerbach has an LLM from New York University School of Law, a JD from Boston University School of Law, and a BS from the State University of New York at Albany.
Mr. Auerbach is a member of the Leadership Council, American Council on Renewable Energy (ACORE), and serves on the Executive Committee of ACORE’s Partnership for Renewable Energy Finance. Mr. Auerbach is a member of the U.S. Council on Competitiveness, Commissioner on the National Commission on Energy Policy, and serves on the Advisory Council of the Prince of Wales’ Rainforest Project. Mr. Auerbach leads Hudson’s global efforts to engage with the political and business communities to develop policy frameworks that best facilitate the scale-up of clean energy.
Steve Corneli – Senior Vice President for Policy and Strategy at NRG Energy
Mr. Corneli coordinates and develops corporate positions on key public policies, and integrates the company’s policy and strategic initiatives, with a primary focus on clean technologies and sustainable enterprises. Steve has previously served as NRG’s Senior Vice President of Market and Climate Policy and as NRG’s Vice President of Regulatory and Government Affairs.
Prior to joining NRG, Steve served in the Minnesota Attorney General’s office and was manager of the office’s utility consumer advocate division. He also has worked at the law firm of Leonard, Street and Deinard and been an adjunct faculty member of the University of Minnesota’s Humphrey Institute of Public Affairs. Earlier in his career, he operated a 600 acre family farm in Wisconsin for more than a decade.
Steve has a Master’s degree in public affairs from the Humphrey Institute with a concentration in energy, environment and technology policy, and a Bachelor of Arts degree from St. John’s College.
Eli M. Katz – Partner at Chadbourne & Parke LLP
Mr. Katz is a transactional lawyer who focuses on providing tax, legal and commercial advice to a broad range of clients in the energy and financial sectors. Many of Mr. Katz’s clients are active in the renewable energy and clean-tech industries where they operate across many sectors such as wind, solar, geothermal, biomass, transmission, hydro power and energy storage. Mr. Katz regularly advises his clients on energy tax credits, government incentive programs, project development and finance, mergers and acquisitions, capital raising and deployment structures and all forms of leasing transactions both in the United States and abroad. Mr. Katz has been particularly active in the development of many of the financing structures now commonly used in the distributed power market. Some of his recent client representations include NRG Energy, Terra-Gen Power, LS Power, First Reserve Energy Investors, Metlife, Macquarie Capital, the AES Corporation, First Wind, GE Capital, US Bancorp and Goldman Sachs.
Mr. Katz joined Chadbourne from GE Energy Financial Services where he was Vice President and Tax Counsel. He regularly publishes articles in tax and energy periodicals and speaks frequently at industry seminars on topics relating to energy tax incentives and project development and financing strategies.
Dana Sands–Managing Director at TAG Energy Partners
Ms. Sands joined TAG in January 2014. Prior to that, she spent seven years at energy and infrastructure investment funds, both at Alinda Capital Partners, one of the country’s largest energy funds and more recently at Energy Infrastructure Partners, where she lead the fund’s renewable energy initiative, focusing primarily on solar. While at Alinda, Ms. Sands served as a CFO and evaluated and performed preliminary due diligence on several solar power towers including BrightSource and Solar Reserve. Ms. Sands was chief operations officer at Evolution Markets, a renewable energy financial firm. She also covered the power industry at Morgan Stanley and public infrastructure finance at both Morgan Stanley and Lehman Brothers. Ms. Sands, a CPA, received two graduate degrees at the New York University Stern School of Business and a BA from Yale University.
Jason Segal–Managing Director at Aldwych Capital Partners
Mr. Segal is a Managing Director at Aldwych Capital Partners and a managing partner of the Environmental and Renewables practice from New York. Starting in 2008, Jason founded and managed the Americas practice for Sustainable Development Capital LLP, an environmentally-focused specialist financial advisory and investment firm. Prior to joining SDCL, Mr. Segal was a Managing Director at Citigroup, where he worked with a broad range of investors on financing, portfolio management, product strategy and business development. Previously, Mr. Segal managed the Portfolio and Electronic Trading businesses for Nikko Citigroup’s Equities Division in Tokyo. Before joining Citigroup, he was a Vice President and Portfolio Manager for Goldman Sachs Asset Management in the firm’s Quantitative Equities team in New York.
Mr. Segal holds an MBA from the Wharton School and a BA in Economics from Wesleyan University. He is a CFA Charterholder and a Member of the CFA Institute.