Pilot Project Features 20-year Power Purchase Contract for World’s Greenest Building
PORTLAND, OR (June 21, 2013) Perkins Coie represented Energy Resource Management Corp (EnergyRM) in structuring and negotiating the energy agreements for the first installation of the Metered Energy Efficiency Transaction Structure (MEETS). MEETS relies on EnergyRM’s DeltaMeter™, a dynamic metering system which makes large scale whole-building efficiency investments feasible. EnergyRM’s transaction uses the DeltaMeter™ to
- reliably measure energy from building efficiency investments
- provide the energy to the utility for delivery to other customers
- appropriately value that energy through a 20-year power purchase contract
- return that value to the investor that paid for the energy efficiency systems
Perkins Coie helped EnergyRM create and implement the necessary multiple contract arrangements involving the utility, the building owner, the utility customer and the MEETS provider. These contracts include a 20-year power purchase agreement between Seattle City Light and the new 50,000 square foot Bullitt Center in Seattle – the world’s greenest office building – recently profiled in an April 2, 2013 article in The New York Times.
The Perkins Coie team included Portland Senior Counsel Ivan Gold and Bellevue Partners Jason Kuzma and Pamela Anderson.
Read the press release from the City of Seattle.
For more information on the transaction click here.
About Perkins Coie: Founded in 1912, Perkins Coie has more than 900 lawyers in 19 offices across the United States and Asia. We provide a full array of corporate, commercial litigation and intellectual property legal services to a broad range of clients, from FORTUNE 50 corporations to small, independent start-ups, as well as public and not-for-profit organizations.
About Perkins Coie: Founded in 1912, Perkins Coie LLP has more than 1,000 lawyers in 19 offices across the United States and Asia. The firm provides a full array of corporate, commercial litigation and intellectual property legal services to a broad range of clients, from FORTUNE 50 corporations to emerging growth startups, as well as public and not-for-profit organizations.
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