Our firm has been represented at International Bar Association’s (IBA) annual conference held between 18-23 September in Washington DC. The world-class speakers at this year’s conference were Christine Lagarde ( Managing Director of the International Monetary Fund), General Colin L Powell, USA (ret) US Secretary of State (2001-2005), Loretta E Lynch (Attorney General of the United States), Ben Bernanke (Immediate past Chairman of the Board of Governors of the Federal Reserve System (Fed)), Christopher Dodd (Former Senator from Connecticut), Rt Hon Arlene Foster (First Minister of Northern Ireland), Jeh Johnson (United States Secretary of Homeland Security),Justice Anthony M Kennedy (Supreme Court of the United States), Congressman John Lewis (US Representative for Georgia’s 5th congressional district), Robert S Mueller, III (Director, Federal Bureau of Investigation (2001-2013)), Rt Hon Jack Straw (British Foreign Secretary 2001-2006), Mary Jo White (Chair of the US Securities and Exchange Commission)
IBA with more than 80.000 lawyers is the world’s largest international organisation of law societies, bar associations and individual lawyers and influences the development of international law reform and shapes the future of the legal profession throughout the world. Mr. Herdem of our firm has co-moderated the session of Power Law Committe on Climate Change and the Financing of Renewable Projects on 22nd September.
The description of the panel was as follows:
Renewable energy technology has been improving rapidly and its integration into the electric grid has been substantial and quick. The rapid expansion of renewable energy creates enormous questions and opportunities for all involved, and raises questions of how the utility of the future will run and what services it will provide. As renewable generation is added to the grid in countries with old electric systems (and is perhaps is being built instead of a grid in other parts of the world) questions arise as to how the electric systems can and should develop. What legal policies should be adopted that promote renewable energy, how can it be priced fairly, and how can grid stability be maintained if the energy sources are intermittent, or if assumptions about weather and power generation turn out to be wrong and what role will renewable energy play in combatting climate change. The panel will cover the nexus of policy and business, and consider both prudent policies and the commercial aspects of operating and doing transactions in a changing environment. This panel will discuss the risks and challenges in the financing of renewable energy projects and highlight the trends from the perspective of lenders, underwriters, rating agencies, contractors and project sponsors.