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The Energizer – Volume 108

There is a lot of buzz around clean technology, distributed energy resources (DERs), microgrids, and other technological innovations in the renewable energy and clean transport industries and how these developments can contribute to solving longstanding environmental justice issues. As these innovations develop, energy markets will undergo substantial changes to which consumers and industry participants alike will need to adapt and leverage. 

BP FURTHERS ITS BIOENERGY EFFORTS BY ACQUIRING ARCHAEA ENERGY

On 17 October 2022, British Petroleum Ltd. (BP) announced it would purchase U.S. based renewable natural gas (RNG) giant Archaea Energy for US$ 4.1 billion. This acquisition by BP is the largest RNG acquisition in history. 

BP’s acquisition of Archaea Energy is part of the oil giant’s efforts to accelerate its growth in the bioenergy sector. Archaea Energy’s 50 RNG and landfill gas-to-energy facilities across the United States generate nearly 30,000 barrels of oil equivalent per day (boed), which will quadruple BP’s current production of around 11,000 boed. This move by BP furthers the company’s goal of reducing its carbon intensity to net zero by 2050. 

DEPARTMENT OF ENERGY ANNOUNCES US$2.8 BILLION IN FUNDING TO EXPAND DOMESTIC MANUFACTURING OF BATTERIES FOR ELECTRIC VEHICLES AND ELECTRIC GRID

On 19 October 2022, the U.S. Department of Energy announced US$ 2.8 billion in funding to help expand domestic manufacturing of batteries for electric vehicles (EVs) and the electrical grid. This funding is the first phase of a US$ 7 billion outlay promised by the 2021 Bipartisan Infrastructure Law to help manufacturers access minerals and other components necessary to scale up domestic battery production.

Twenty companies will receive funding to build and expand commercial-scale facilities in 12 states. Funding will support, among other things, the extraction, development, and production of battery-grade lithium, graphite, and nickel; the installation of large-scale commercial lithium electrolyte salt production facilities and the creation of domestic silicon oxide production facilities to supply anode materials for an estimated 600,000 EV batteries annually.

This increase in domestic battery production is tied to the Inflation Reduction Act, which authorized up to US$ 7,500 in tax credits and rebates for qualified consumers purchasing EVs but set strict battery component and sourcing requirements.

BROOKFIELD RENEWABLE PARTNERS AND CAMECO CORPORATION ACQUIRE NUCLEAR SERVICES BUSINESS        

On 11 October 2022, Brookfield Renewable Partners (Brookfield) and Cameco Corporation (Cameco) announced the acquisition of Westinghouse Electric Company (Westinghouse). Brookfield Renewables is one of the largest investors in clean energy assets, owning approximately 125,000 MW of operating and development capacity worldwide. Cameco is one of the largest suppliers of uranium fuel worldwide. And, Westinghouse is one of the world’s largest service providers for the nuclear power generation sector. Cameco and Brookfield expect that the acquisition will create an opportunity for growth across the nuclear value chain.

Brookfield is leveraging the Brookfield Global Transition Fund I to finance the acquisition. The Brookfield Global Transition Fund I is one of the world’s largest funds focused on the energy transition.

Brookfield maintains that every credible net-zero pathway will rely on significant growth in nuclear power and capacity. Brookfield and Cameco aim to advance the growth of nuclear power to meet the needs for the clean energy transition.

Olivia C. Ashé also contributed to this article.

Copyright 2023 K & L GatesNational Law Review, Volume XII, Number 305
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About this Author

Buck B. Endemann, KL Gates, energy infrastructure lawyer, remediation projects attorney
Partner

Buck Endemann is a partner in the firm’s San Francisco office, where he is a member of the energy practice group. He provides comprehensive counseling on energy, infrastructure and remediation projects, including advice on air, water and waste compliance issues, and represents clients in related litigation. 

Mr. Endemann has extensive experience on the commercial, land use, and regulatory aspects of renewable energy and infrastructure projects throughout the Western United States, with an emphasis on California. He has a particular expertise...

415-882-8016
Matt Clark Associate Seattle Environment, Land and Natural Resources
Associate

Matthew Clark is an associate in the Seattle office of K&L Gates in the environment, land and natural resources practice group. Mr. Clark’s practice focuses on litigation, regulatory compliance, and transactions involving energy and infrastructure, environmental permitting, natural resource development, and land use.

206-370-7857
Associate

Nathan Howe is an associate at the firm’s Newark office. He is a member of the power practice group, and has represented clients in electric regulatory matters before the Federal Energy Regulatory Commission (FERC), the New Jersey Board of Public Utilities (NJBPU), and other state regulatory agencies, in proceedings such as utility rate filings, mergers, contract disputes, rulemakings, and programs proposed by utilities.  He assists clients in all phases of these proceedings, including discovery, settlement, evidentiary hearings, and written submissions, from inception to resolution, as...

973.848.4133
 Natalie J. Reid Associate Seattle Environment, Land and Natural Resources
Associate

Natalie Reid is an associate at the firm’s Seattle office. She is a member of the environment, land and natural resources practice group.

206-370-6557
Associate

David Wang is an associate at the firm’s Seattle office. He is a member of the Energy, Infrastructure, and Resources/Power practice group.

Prior to joining the firm, David clerked for the Honorable Dario Borghesan of the Alaska Supreme Court, where he drafted opinions and memoranda on a wide range of civil and criminal matters. During law school, he was a member of the Jessup International Law Moot Court team, helping the team qualify for the competition’s international rounds in consecutive years. He also served as a legal writing tutor and participated in the school’s...

+1 206-370-6554
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