http://www.reedsmith.com/ en-us © Copyright 2013 Reed Smith LLP. All rights reserved. Wed, 19 Jun 2013 06:26:01 GMT Wed, 19 Jun 2013 06:26:01 GMT Companies that explore, develop, and distribute energy resources or provide services to the energy industry routinely join forces with, and share information with, other industry participants. Completing significant projects often requires such partnering. Yet these joint activities frequently involve actual or potential competitors, and are handled with varying degrees of formality: from organization of joint venture entities, to joint operating agreements (JOAs) or area of mutual interest agreements (AMIs), to mere informal understandings. Each of these approaches can create risks and opportunities, which can be magnified for international transactions. Please join us for breakfast, followed by three interactive panel discussions designed to provide practical guidance for energy companies about how to achieve the benefits of collaboration, while minimizing deal risks and avoiding antitrust problems.  Panel topics include: Antitrust Do’s and Don’ts  Deal Structuring Best Practices Competitive Intelligence and Information Sharing Panelists: Reed Smith Partners: Paul W. Bishop, P. Gavin Eastgate, Jeremy D. Feinstein, Ronald W. Frank, Dwight A. Howes, Michael P. Joy, and Leah Rudnicki James A. Donahue, III, Executive Deputy Attorney General (Acting), Director Public Protection Division, Pennsylvania Office of Attorney General S. Casey Bowers, Senior VP & General Counsel, PennEnergy Resources, LLC Allen Barron, P.E., President, Reservoir Engineer, Ralph E. Davis Associates, Inc. CLE Credit:  This program has been approved by the Pennsylvania CLE Board for 2.0 hours of substantive credit. Applications for 2.0 substantive CLE credits for OH and WV are pending. Agenda:  7:30 to 8:00 AM – Registration & Breakfast; 8:00 to 10:30 AM – Program Registration required.  Please contact the event coordinator. http://www.reedsmith.com/events/detail.aspx?firmEvent=3650 Event http://www.reedsmith.com/events/detail.aspx?firmEvent=3650 Tue, 09 Jul 2013 12:30:00 GMT 7/9/2013 7:30:00 AM Reed Smith is delighted to be supporting the 27th IECA European Conference which will be held at the AC Hotel Ambassadeur, Juan Les Pins in France from the 23 – 25 June 2013. http://www.reedsmith.com/events/detail.aspx?firmEvent=3535 Event http://www.reedsmith.com/events/detail.aspx?firmEvent=3535 Mon, 24 Jun 2013 03:00:00 GMT 6/23/2013 3:00:00 PM Claims and disputes continue to be a common feature on many major energy projects, in Qatar and internationally. Such claims and disputes can negatively impact a project and require significant investments in terms of time and money. This seminar, jointly hosted by CESL, Reed Smith and Sultan Al-Abdulla & Partners, will offer an insight into how to better contract manage energy projects and identify best practice for the avoidance and resolution of project claims and disputes. http://www.reedsmith.com/events/detail.aspx?firmEvent=3636 Event http://www.reedsmith.com/events/detail.aspx?firmEvent=3636 Wed, 12 Jun 2013 10:00:00 GMT 6/12/2013 2:00:00 PM We commented in a previous alert that the European Commission had launched an investigation into "dumping" of solar panels in the European market by Chinese companies. Yesterday (4 June 2013) it was announced that the European Commission would be imposing provisional anti-dumping tariffs on solar panels imported from China. We consider in this alert how these measures are likely to impact the development of solar parks in the UK and mainland Europe. http://www.reedsmith.com/publications/detail.aspx?publication=12487 Publication http://www.reedsmith.com/publications/detail.aspx?publication=12487 Thu, 06 Jun 2013 00:00:00 GMT In the fourth seminar hosted by our new Singapore Office, Reed Smith's lawyers and guest speaker will discuss practical issues relating to SupplyTime, risk transfer and insurance claims in the Offshore Oil & Gas FPSO sector. The seminar will begin at 5.30pm followed by a drinks and canapés reception. http://www.reedsmith.com/events/detail.aspx?firmEvent=3581 Event http://www.reedsmith.com/events/detail.aspx?firmEvent=3581 Wed, 05 Jun 2013 09:30:00 GMT 6/5/2013 5:30:00 PM On June 4, 2013, Nebraska Governor Dave Heineman signed into law a bill (LB104) designed to incentivize the development of renewable energy in the state by exempting certain purchases of renewable energy equipment and other project costs from the state’s 5.5 percent sales tax. The bill defines sources of renewable energy to include wind, solar, geothermal, hydroelectric and transmutation of elements. Under the new law, prospective renewable energy developers will be required to invest a minimum of $20 million in qualified property in the state to be eligible for the exemption. Separate proposals to limit the benefit of the exemption to those spending a percentage of project costs using Nebraska-made materials, and to those spending a percentage of gross revenues earned with Nebraska businesses or individuals, both fell flat and are not included in the final law. The bill falls under the Nebraska Advantage Act of 2006 and takes effect immediately. The complete text of the new law can be found here. Nebraska wind continues to be a largely untapped resource. According to the Department of Energy, Nebraska has the fourth-best wind energy resource in the country with more than 900,000 MW of wind energy potential – more than 120 times the amount of power needed to meet the state’s needs. However, Nebraska is currently ranked 26th in wind energy production, with 459 MW of installed capacity– far less than neighboring Iowa with 5,137 MW. Neighboring states such as Iowa, Kansas and Oklahoma have similar sales tax exemptions for purchases made in connection with the development of renewable energy. The new law comes at a time when TradeWind Energy of Lenexa, Kansas, is considering the investment of $300 million to 400 million to develop the 200 MW Rattlesnake Creek wind project in Dixon County in northeastern Nebraska. Nebraska is a public power state, and producers of electricity are required to offer at least 10 percent of the generation from a project to Nebraska utilities. http://www.reedsmith.com/publications/detail.aspx?publication=12488 Publication http://www.reedsmith.com/publications/detail.aspx?publication=12488 Wed, 05 Jun 2013 00:00:00 GMT The global demand for natural resources continues unabated. As revenues increase and profits soar in the face of this demand, there has been a resurgence of “resource nationalism” with resource-rich host states seeking greater control or a larger share of the revenue generated from its resources. The issue of chemical plant safety has long been a target of environmental, and other, groups concerned with operational safety, as well as protection from terrorist intentions. The recent explosion at a Texas fertilizer plant provides further impetus to these groups, to some in Congress and with the Executive Branch agencies to act now on mandating at least some level of heightened safety standards. Rules are already in place requiring (1) chemical facilities to develop “risk management plans” that detail the potential effects of an accidental chemical release and outline the steps that are to be taken to prevent or address such an event; and (2) facilities identified as “high risk” to develop an effective site security plan. Safety and security concerns, whether from a release of chemicals that harms the public or from terrorist threats, add further pressure in support of a greater federal response; it may be that now is the time when new requirements are established. In this client alert, we identify pending legislation and possible regulatory responses for chemical plant safety, and discuss their potential for enactment. http://www.reedsmith.com/publications/detail.aspx?publication=12415 Publication http://www.reedsmith.com/publications/detail.aspx?publication=12415 Fri, 24 May 2013 00:00:00 GMT May 24, 2013 – Reed Smith LLP today announced the 2013 rankings of its practices and lawyers in the United States by Chambers and Partners. The firm earned four nationwide practice group rankings and 21 statewide practice group rankings, including three statewide practices ranked in Band 1 – Pennsylvania Banking & Finance, Pennsylvania Bankruptcy/Restructuring and Illinois Insurance: Dispute Resolution. Seventy-two Reed Smith lawyers collectively earned 82 Chambers rankings for the year, including 13 Band 1 ranks. Lawyers named in Band 1 for 2013 include four recognized for their nationwide practices: Douglas J. Wood, Advertising: Transactional & Regulatory; Elizabeth Carder-Thompson, Healthcare: Regulatory & Litigation; John S. Vishneski, Insurance: Dispute Resolution: Policyholder; and Michael K. Brown, Product Liability & Mass Torts. Others lawyers at the firm ranked in Band 1 for 2013, their practice group and the states in which they practice included: Margaret Grignon, Litigation: Appellate, California; Kurt F. Gwynne, Bankruptcy/Restructuring, Delaware; John S. Vishneski, Insurance: Dispute Resolution and John Shugrue, Insurance: Dispute Resolution, both in Illinois; Murray J. Klein, Healthcare, New Jersey; and Claudia Z. Springer, Bankruptcy/Restructuring; Leonard A. Bernstein, Banking & Finance: Mainly Regulatory; Lisa D. Kabnick, Banking & Finance; Michael E. Bleier, Banking & Finance: Mainly Regulatory; and, Paul Singer, Bankruptcy/Restructuring, all five in Pennsylvania. Reed Smith’s lawyers singled out by the publication are members of 28 practices across the United States A complete list of the U.S. lawyers and practices ranked by Chambers in 2013 is available online at http://www.chambersandpartners.com/USA/Search/Firm/Reed-Smith. http://www.reedsmith.com/knowledge/detail.aspx?news=1929 News http://www.reedsmith.com/knowledge/detail.aspx?news=1929 Fri, 24 May 2013 00:00:00 GMT This Client Alert serves as an executive summary for a supplementary white paper, The Basics of Transacting in Offsets under AB 32, and will assist clients in addressing offset transaction risks. The white paper offers an in-depth discussion of the following: "Primary" vs. "Secondary" markets for offsets Options and strategies for buying offset credits Benefits and challenges of buying offset credits http://www.reedsmith.com/publications/detail.aspx?publication=12410 Publication http://www.reedsmith.com/publications/detail.aspx?publication=12410 Thu, 23 May 2013 00:00:00 GMT Reed Smith Munich team advised GCG Renewable Energy Infrastructure Fund GmbH & Co KG on the acquisition of five solar parks in Italy with an output of 4.5 MWp from SOLEA AG, a leading German mid-cap company in the energy industry. The team was led by partner Stefan Schmitz and counsel Constantin Conrads. http://www.reedsmith.com/knowledge/detail.aspx?news=1933 News http://www.reedsmith.com/knowledge/detail.aspx?news=1933 Thu, 23 May 2013 00:00:00 GMT