Clean Energy Deployment Administration Amendment is a Milestone in the Future of Green Energy

WASHINGTON, D.C. – May 19, 2009 –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.

The House bill as amended today would promote the development and deployment of renewable energy and energy efficiency 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.

"Today's action by the House Energy and Commerce Committee under the leadership of Chairman Henry A. Waxman and Subcommittee Ed Markey demonstrates tremendous commitment and motivation to advancing the US to a sustainable energy future," said Todd Filsinger, co-chair of the Coalition for Green Bank and head of PA Consulting Group's Energy Capital Markets practice.

"This is a huge victory for legislative leaders, including Congressman Chris Van Hollen who first proposed the creation of the Green Bank Act of 2009, working in collaboration with business and environmental leaders across the United States to alleviate the effects of the lending crisis on financing renewable projects. Today's action by the House Energy and Commerce Committee demonstrates the compelling need for long term, low cost financing to assure lower priced electricity and reasonable profits for investors and shareholders which can galvanize new job growth in alternative energy," Filsinger added.

In March, the Coalition for Green Bank, 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, publicly endorsed the US Green Bank Act (H.R.1698) introduced to the House by Rep. Chris Van Hollen (D-MD).

"I compliment Committee Chairman Waxman, Subcommittee Chairman Markey, Chairman Emeritus Dingell, Rep. Gordon and of course Rep. Inslee and Rep. Van Hollen, who have all joined in recognition of the critical need to address the lack of low cost financing for alternative energy," said Reed Hundt, Coalition for Green Bank co-chair. "Today's collaboration demonstrates commitment to creating the new jobs and industries of the clean energy future, keeping energy prices low for families and businesses, all while addressing the challenge carbon emissions pose to our climate. This legislation will provide reliable low cost financing critical to a private-sector led transition from carbon to clean energy."

Earlier this month, testimony by former Vice President Al Gore before the House Energy and Commerce Committee, endorsed the need for financing renewable energy projects calling the Green Bank Act, "a very imaginative, very excellent idea."

About the Coalition for Green Bank

The Coalition for Green Bank is a consortium of leaders in energy development enterprises including renewable resource developers, original equipment manufacturers, investors, financial advisors and consultants dedicated to the stimulus of green energy assets for clean and sustainable energy and jobs, and economic development. The CGB is proud to have the support of the Pickens Plan, Mesa Power, General Electric, Cavallo Energy, US Department of Energy, RES-Americas, American Wind Energy Association, Clean Economy Network and many more. The CGB comprises of co-chairs Todd Filsinger (PA Consulting Group) and Reed Hundt, steering committee members Monty Humble (Mesa Power Group, LLC), Phillip P. Gennarelli (Cavallo Energy), Kenneth Marks, Alan Fleischmann, Harrison Wellford (Terrawell Energy), Michael Hoffman (Riverstone Holdings LLC), Mike Gergen (Latham & Watkins), William Gleason (Chinook Energy), Gilbert Barnes (Greencore Capital) and coalition members Ben Rogers (Grid Storage Technologies), Bruce Thompson (US Mainstream Renewable Power Inc.), Dave Chen (Equilibrium Capital Group), Harold Borden (Cavallo/Cross Hudson), Howard R. Berke (Konarka Technologies, Inc.), Jason Scott (EKO Asset Management Partners), Jeanine Hull (Strategic Energy Advisors, Inc.), Jeffrey King (Clean Economy Network), John E. Mullen (AMB International Finance, LLC), Josh Becker (New Cycle Capital), Joshua Greene (Patton Boggs), Kristian Hanelt (Tioga Energy), Larry Leete (Kanepi Innovations), Larry Rayman (Gas Turbines International, LLC), Mark Patkunas (Higher Power Energy, LLC), Michael Bruce (Manifest Energy Group), Michael Peck (MAPA Group), Michael Telford (Greencore Capital), Mitchell Dong (Mohave Sun Power LLC), Preston Read (RecycleBank), Raymond J. Albright (AMB International Finance, LLC), Robert Marsh (Mohave Sun Power LLC), Scott E. Jorgensen (Solarsa, Inc.), Steve Boyd (Boyd Strategies), Steve Taub (GE Energy Financial Service), Thomas R. Rosen (Green Amperage Partners, LLC), Tom Casey (CURRENT Group, LLC), Paul Kaplan (Senior Advisor to the Secretary of Finance and Administration, Commonwealth of Kentucky), Bob Jones (Alston & Bird), William G. Morin (Applied Materials), Kevin Scannell (Tessera Solar), Ken Emma (Helix Electric, Inc), Joshua Weinstein (AMSOLAR Corporation), Karen Williams (Lane Powell), Marc Porat (Serious Materials, CalStar, ZETA) and Matt Golden (Sustainable Spaces).