Edward Zaelke Quoted in SparkSpread on U.S. Army Renewables Program
Edward Zaelke, a partner in Akin Gump’s global project finance practice, is quoted in SparkSpread discussing a new renewables program by the U.S. Army. Several big-name developers are expected to respond to an Army RFP for $7 billion in renewable energy contracts to cover new solar, wind, geothermal and biomass projects.
Ed says the program is very positive news for those who have been struggling to find power purchase agreements in the sluggish economy, and he expects there to be “a pretty crowded field” of respondents. Ed also notes that the Army might structure power purchase agreements with features that will facilitate non-recourse debt financing, such as termination fees, in the event that budgets are cut.