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Alternative Energy & Renewables


Level: Advanced
Runtime: 60 minutes
Recorded Date: May 06, 2021
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Agenda

• Alternative and Renewable Energy Overview
• Impacts of Polar Vortex in Texas (February 2021)
• Renewable Energy Restructuring
        - CFIUS (Committee on Foreign Investment in the U.S.)
        - Department of Energy Loans
        - Other Regulatory Issues
        - Power Purchase Agreements
        - Bankruptcy Safe Harbor

Runtime: 1 hour
Recorded: May 6, 2021

Description

Short- and long-term governmental goals linked to zero-carbon electricity-generation have fostered the increased deployment of renewable energy sources and improved transmission and storage distribution. In turn, renewable and alternative energy sources — in tandem with systemic lower natural gas prices and lower electricity demand — have and will continue to cause distress in the merchant power sector, notwithstanding random black swan events like February’s storm in Texas. No doubt the road ahead will be ridden by complexity, not just in relation to market, environmental and economic dynamics, but because of the outsized role Federal law plays in the industry, including the Committee on Foreign Investment in the United States, the Energy Policy Act of 1992, the Federal Power Act and the Bankruptcy Code.

This session’s panelists, all of whom have experience in the renewable energy and power sectors, will discuss valuation and other relevant issues in the context of expanding alternative and renewable energy sources, and the pressures this expansion will have on the merchant power sector.

This program was recorded as part of the American Bankruptcy Institute's Virtual VALCON 2021 held on May 6th, 2021.

Provided By

American Bankruptcy Institute

Panelists

Ronald Silverman

Partner, Corporate & Finance Group
Hogan Lovells US LLP

Ronald J. Silverman is co-head of Hogan Lovells US LLP’s U.S. Business Restructuring and Insolvency practice group in New York. He represents hedge and private-equity funds, banks and financial institutions, and other sophisticated investors and commercial enterprises involved in distressed M&A, restructurings, rescue financings and insolvencies. His range of experience includes comprehensive knowledge of restructurings involving the renewable energy, power, mining, and oil and gas sectors. He is particularly involved in cross-border restructurings that span Latin America, Europe and Asia and has completed restructurings in dozens of countries across the globe.

Mr. Silverman has led some of the most significant chapter 15 cases in connection with cross-border restructurings, and wrote the chapter 15 primer for a leading treatise. He also served as ABI’s Vice President-International Affairs and served on the board of directors of INSOL International.

Mr. Silverman received his B.A. with honors from Trinity College in 1988 and his J.D. from the University of Connecticut School of Law in 1991.

Kizzy Jarashow

Counsel
Goodwin Procter, LLP

Kizzy Jarashow is counsel in Goodwin Procter LLP’s Financial Restructuring practice in New York and represents debtors, creditors, sponsors, special-situations investors and other stakeholders in all aspects of complex corporate restructurings, workouts and distressed-debt investments and acquisitions. She has represented clients in a variety of industries, including energy, retail, technology, manufacturing, health care, automotive, media, hospitality and gaming, education, financial services and real estate. She has also written extensively on restructuring-related topics, including articles published by the Norton Journal of Bankruptcy Law and Practice, the ABI Journal and ABI committee newsletters, INSOL International, and the International Bar Association’s Insolvency and Restructuring International section.

Ms. Jarashow is actively involved in pro bono matters, having worked extensively in areas of voting rights, LGBTQ rights and public benefits. In recognition of her work, was selected as a Rising Star in Bankruptcy by Super Lawyers and is a member of the International Insolvency Institutes’ NextGen Leadership Program and the National Conference of Bankruptcy Judges’ Next Generation Program.

Ms. Jarashow received her B.A. in 2004 from New York University and her J.D. cum laude in 2007 from Fordham University.

Patrick M. Birney

Partner
Robinson & Cole, LLP

Patrick M. Birney is a partner at Robinson & Cole LLP (Robinson Cole) in Hartford, Conn., and co-chair of the firm’s Business Reorganizations, Bankruptcy, and Creditors’ Rights group. Since 1998, he has focused his practice on complex transactional, litigation and advisory work related to the debtor/creditor relationship.

Mr. Birney is a contributing editor and writer for the ABI Journal, has contributed to the ABI Law Review, and is a member of the editorial advisory board of the Norton Journal of Bankruptcy Law and Practice. When not focused on insolvency-related endeavors, he serves as vice chair of both the Connecticut Lottery Corp. and the Public Utilities Commission of Wallingford, Conn.

Mr. Birney received his B.A from the University of Dayton, his M.B.A. from Loyola University of Chicago, his J.D. from the University of New Hampshire School of Law and his LL.M. in Bankruptcy from St. John’s University School of Law.

Loretta Cross

Managing Director, Strategy and Transactions Advisory Group
Grant Thornton LLP

Loretta R. Cross, CPA, CIRA, CDBV is a managing director in Strategy and Transactions Advisory group at Grant Thornton LLP in Houston, where she specializes in restructuring energy companies. She has more than 40 years of experience in consulting including turnaround, restructuring, strategic, operational, financial and litigation consulting.

Ms. Cross has served in management roles for both operating companies and liquidation/litigation trusts. She has been a key business advisor to parties in some of the nation’s largest financial and operational restructurings and has provided expert testimony on a variety of issues.

Ms. Cross has been an avid supporter of women in business and has put this support to work, serving in leadership roles for the Executive Woman’s Partnership, Women’s Leadership Council, Texas Executive Women, International Women’s Forum and the Houston Area Women’s Chamber of Commerce. She is also a frequent writer and speaker. Ms. Cross received her B.B.A. in accounting from the University of Texas at Austin.


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