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Development finance facilities: Prospects for APAC
Sponsors and project developers across the renewables and energy transition space are currently facing a challenging macroeconomic environment.
United States | 出版物 | December 17, 2021
Los Angeles officials have announced the legislative launch of a "community engagement process" in pursuit of the city's building decarbonization policy, a principle outlined in the LA Green New Deal.
Mayor Eric Garcetti claims that "[d]ecarbonizing our buildings will make it possible for us to reduce Angelenos' utility bills and create thousands of green jobs." How these goals will be achieved is not specifically described. The city's buildings purportedly account for 43 percent of all carbon emissions produced in the region. Virtually all residents' energy and transportation costs have risen steadily over recent years as they are called upon to pay higher prices (often the highest in the nation) for electricity, natural gas, water, sewer, sanitation services and gasoline. The city has set a notional deadline of 2035 to convert to "100 percent clean energy."
In November 2021, the Los Angeles Department of Transportation announced it had been awarded a US$6 million grant by the California Energy Commission to install one of the largest EV fleet charging systems in the country. It will be powered by a solar microgrid.
Norton Rose Fulbright is at the forefront of counseling clients on the real estate, infrastructure and other legal implications of the LA Green New Deal, and we encourage you to contact us to discuss the effect of these issues on your business and facilities.
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Sponsors and project developers across the renewables and energy transition space are currently facing a challenging macroeconomic environment.
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