Energy Storage Update - 2014 California Storage RFO

December.16.2014

Orrick and Clean Energy Pipeline have issued a report entitled Energy Storage Update - 2014 California Storage RFO, which focuses on the challenges and opportunities in the U.S. energy storage market, with specific focus on California’s energy storage procurement program. The spotlight on energy storage has only intensified since Orrick released its first article on the subject, Energy Storage: Opportunities, Challenges and Solutions, in February of this year. Last month, Southern California Edison announced the results of its 2013/14 Local Capacity Requirements RFO in which SCE awarded over 260 MW of new energy storage contracts. Additionally, California’s three large investor owned utilities have now issued their energy storage solicitations in connection with California Assembly Bill 2514 for approximately 119 MW of storage projects, and industry participants are keenly focused on those solicitations.

This article is the third in a series of reports by Orrick and Clean Energy Pipeline, which has included the following:

Authors

Les Sherman Partner, Energy, Infrastructure

San Francisco

See my bio

D:+1 415 773 5570
E: [email protected]

Practice:

Energy & Infrastructure Sector
Energy
Infrastructure
Renewable Energy
Power
Solar Energy
Wind Energy
Energy Storage
Mergers & Acquisitions

vCard

See full bio

Les Sherman Partner

San Francisco

Chambers publications identify Les as a Leading Lawyer and report that clients say Les is an “icon in California in the renewables space”, has "notable expertise spanning solar and wind generation projects as well as battery storage development" and has “established a reputation as the go-to guy in California”. Chambers also reports that Clients say Les has "a brilliant mind," "his finger on the pulse of the market" and "a very good eye for detail when thinking through practical agreements and understanding how it is all going to work in practice". Clients note "he is one of the best PPA lawyers in the business." Les also is recognized by Euromoney, The Legal 500 and The Expert Guides as a Leading Lawyer in energy project development, M&A and finance.

Les represents many of the industry’s leading companies on project development, financing and M&A transactions for solar, wind, energy storage, biomass, gas and similar projects. Les has led the Orrick team’s thought leadership in the growing battery and hydrogen energy storage market, has published numerous articles on the topic, and has served as lead counsel on many of the largest storage and renewables+storage transactions completed to date.

Rohit Sachdev Partner, Energy, Infrastructure

San Francisco

See my bio

D:+1 415 773 5813
E: [email protected]

Practice:

Energy & Infrastructure Sector
Energy
Infrastructure
Renewable Energy
Wind Energy
Energy Storage
Mergers & Acquisitions

vCard

See full bio

Rohit Sachdev Partner

San Francisco

Rohit has extensive experience in the solar, wind, energy storage, and biofuel sectors, and has advised on numerous award-winning transactions. He is recognized by Chambers USA and Chambers Global in the Projects: Renewables & Alternative Energy category. Rohit’s clients describe him as “excellent,” “knowledgeable,” “timely in his work,” “commercially-oriented,” “very plugged into the market” with a “great demeanor."

In recent years, Rohit's practice has focused particularly on project development and project M&A transactions. He has successfully negotiated many GWs of "physical" and "virtual" PPAs and tolling agreements, as well as a variety of construction, supply and other development arrangements. Rohit has also represented clients on the purchase and sale of renewables projects in various U.S. jurisdictions, as well as joint venture and other project asset arrangements. He has particularly focused on the development, financing and sale of domestic and international energy storage projects, including stand-alone, hybrid, front-of-meter and behind-the-meter projects.

Rohit co-leads Orrick’s South Asian Inclusion Network and served as a Fellow for the Leadership Council on Legal Diversity.

He started his legal career at an international law firm in New York, where he focused on project development and project finance transactions across the globe. Prior to law and business schools, Rohit was an investment banking analyst at Credit Suisse in San Francisco where he provided M&A and financial advisory services to technology companies in Silicon Valley.

Markets

Bay Area: San Francisco and Silicon Valley