Detailed Agenda with Speaker Assignments

Welcome and Introductions

Stephen Tracy, Novogradac & Company LLP
Jim Duffy, Nixon Peabody LLP
Tom Stephens, Sonnenschein, Nath & Rosenthal LLP

Renewable Energy Tax Credits — Industry Update, and Washington Report

Stephen Tracy, Novogradac & Company LLP
Francine Friedman, Hunton & Williams LLP

Trends in Solar Transactions                                          
Development Issues
Join seasoned renewable energy developers as they consider the emerging trends and risks in developing and financing utility scale and commercial solar installations. Our experienced panelists will address samples of the installations they developed, the design and development challenges they faced, as well as other challenging issues. In addition, there will be discussion on issues that arise in the process of negotiating a power purchase agreement with a host customer: Is pricing from the installers coming down? What can be expected in 2009? Is there room for the solar developer and the installer in the same transaction?

Tom Hoffman,  Ballard Spahr (Moderator)
Alex Kramarchuk, Eye On Energy
Jerry Breed, Powell Goldstein
Jeff Wolff, SunEdison

Trends in Wind Transactions                                          
Development, Financing and Deal Negotiation
You won’t want to miss this session as experts provide examples of wind transactions that are getting financed in today’s market. Find out who the active participants are in today’s wind transactions, how the deals are structured and how key tax issues and deal terms are being addressed and negotiated. Panelists will discuss far-ranging development topics, from siting difficulties and turbine supply to completing a wind resource study, navigating the permitting process, and environmental and transmission concerns. Structuring issues related Revenue Procedure 2007-65 will also be addressed.

Dan Smith, Novogradac & Company LLP (Moderator)
Jim Duffy, Nixon Peabody LLP
Dennis Donovan, Bank of America
Jim Gordon, EMI Energy

Lunch and Keynote Speaker
Kathleen McGinty (Invited)

Trends in Solar Transactions                                          
Structures, Deal Negotiation and Tax Issues
Pressure on tax credit equity pricing, diminishing rebate subsidies in California and elsewhere are continuing to make solar transactions challenging. The experts on this panel will discuss the types of solar transactions that are being funded in today’s market, which structures are most readily being used and why, and what tax issues can arise that developers should be aware of when using a specific structure. Our panelists will also address some of the key deal terms and how they have been addressed and negotiated and the tax issues that can arise when a not-for-profit is involved in the transaction as the host (offtaker) or as a participant in the ownership entity. Finally, panelists will provide an update as to how the investor exits the deal, including an update on the use of “puts,” “calls” and “flips”.

Forrest Milder, Nixon Peabody LLP (Moderator)
Alex Kramarchuk, EyeOn Energy Ltd.
Peter Conklin, MMA Renewable Ventures
Tom Stephens,  Sonnenschein Nath & Rosenthal LLP

Rebates, RETCs, State Tax Credits and More     
Production tax credits, investment tax credits, electricity revenue and tax savings from depreciation deductions are often not enough to make renewable energy projects financially feasible in the current market.  Individual states and municipalities recognize this fact and have stepped up with creative ways to incentivize and subsidize solar, wind and other renewable projects. This panel discussion will focus on, among other topics, which states are doing what and which have the most attractive program. Also under examination will be rebates, state tax credits and other programs offered at the state, local and utility level, the role of renewable energy certificates and the status of the market for RECs.

Darin Crowder, Ballard Spahr (Moderator)
Jim Howard, TransCapital
Chris Hasle, United Fund Advisors
Neil Kimmelfield, Lane Powell PC

Renewable Energy Equity Matters                               
The credit crunch is alive and well on Wall Street and the effects are being felt by all transaction participants. Panelists will discuss the challenges presented by the current capital markets environment. In particular the ramifications on investor tax credit appetite, tax equity pricing, underwriting, due diligence and other issues will be addressed. Panelists will address what factors are driving investments in today’s renewable energy transactions.  Are investors essentially done investing in 2008 and what’s in store for 2009?  Come find out what’s on the minds of today’s market participants in the midst of a very challenging environment.

Herb Stevens, Nixon Peabody LLP (Moderator)
Edward Levin, Morgan Stanley
Brian Tracey, Bank of America
Zack Boyers, US Bancorp CDC
Matthew James, Greystone
Barry Wides, Office of the Comptroller of the Currency

Networking Reception

Biomass–No Respect as a Renewable Energy Source?
To many, the renewable energy programs that seem to get the most copy are wind and solar power. Production tax credits under Section 45 of the Internal Revenue Code also apply renewable energy produced from open and closed loop biomass. While wind power is the most talked about renewable energy source financed by the production tax credit, biomass (plant material and animal waste) supplies almost 15 times as much energy in the United States as wind and solar power combined — and has the potential to supply much more. Come here the experts on this panel explain the ins and outs of today’s biomass transactions.

Jim Duffy, Nixon Peabody LLP (Moderator)
Karen Williams, Lane Powell PC
Jim Gordon, EMI Energy

Solar Investment Structures – A Closer Look
For many investors, investing in solar projects remains a boardroom priority despite the perceived difficulties in financing transactions in this new and growing market.  Solar developers and investors continue to refine transaction structures in ways that enhance yields, respond to underwriting concerns and comply with tax requirements.  This session will take a closer look at the three main transaction structures being used (and evolving) in the market today; the sale leaseback, the lease-pass-through (the so called “sandwich lease”) and the partnership “flip” with a discussion of the factors that motivate transaction parties to choose one over the other.

Eli Katz, Chadbourne and Parke LLP (Moderator)
Peter Conklin, MMA Renewable Ventures
Kevin Panzica, Union Bank of Calfornia
John Marciano, Chadbourne and Parke LLP

Residential Solar – Innovative Financing Structures
Financing solutions for residential solar customers are making the decision to go solar much easier these days.  Leasing programs and residential power purchase agreements have quickly become very popular financing options which are making residential installations more cost effective for consumers.  And now with the $2,000 cap off the ITC for residential installations the landscape for residential solar has changed.  Or has it?  Come hear our panelists talk about these innovative solutions and see what the buzz in residential solar is all about.

Donna Rodney, Powell Goldstein (Moderator)
David Arfin, SolarCity Corporation
Mike Hall, Borrego Solar
Gary Kleiman, The Gemstone Group

Trends in Renewable Energy Debt Financing           
With havoc rolling through Wall Street, how has the landscape changed for getting renewable energy deals financed.  Have the recent government actions started to thaw the credit markets?  Has the recent extension of the PTC and ITC got lost in the mayhem?  This sure-to-be lively panel will address the current marketplace, the impact of the current credit crunch and lender underwriting guidelines, deal terms and other criteria used when financing wind and solar transactions.

Stephen Tracy, Novogradac & Company LLP (Moderator)
Forrest Milder, Nixon Peabody LLP
David Kunhardt, Solar Power Partners
Scott Hoekman, Enterprise

Affordable Housing and Solar LIHTC and ITC (Solar) Credits
Affordable housing developers are discovering the benefits of going green. Combining energy credits with LIHTCs is proving to be a very effective way to finance a solar installation on affordable multifamily real estate. Learn how developers are adding solar installations to their multifamily apartment portfolios with investment tax credits, either through a combination with LIHTCs or via their own captive energy company. Also expect to get insight on how investors view the energy credits, what they will pay for the combined investment, and what issues can arise in these transactions.

Tony Grappone, Novogradac & Company LLP (Moderator)
Laura Hegedus, Alston & Bird LLP
James Scarrow, SunEdison
Richard Raeke, Borrego Solar
Rebekka Hermans Or, Nixon Peabody