Haynes and Boone's Newsroom
Paul Dickerson in Cape Cod Times: Power pact buoys Cape Wind
05/16/2010
In a discussion of the announcement of a proposed pact to sell half the power from the 130 turbines Cape Wind plans to build in Nantucket Sound, Paul Dickerson comments on the economic role of clean technology:
[...] clean technology projects should be judged more on their economics and less on their environmental benefits, according to Paul Dickerson, an attorney who specializes in clean technology and a former high ranking official at the Department of Energy.
"Climate change shouldn't be the call to arms," he said, adding that the creation of domestic jobs in the clean technology industry is the most important reason to move forward with projects like Cape Wind.
Power purchase agreements are an important part of the financing process, he said, adding that private equity firms are justifiably risk adverse in making investments in clean technology.
"No one likes higher energy prices," but the future of the country's energy portfolio will need to be more diversified to secure energy independence from other countries and create needed jobs in the U.S., he said.
Excerpted from "Power pact buoys Cape Wind," Cape Cod Times, May 16, 2010. To read the full article, click here.