Green Bank Coalition Members Participate in Premier Industry Panel

Raising Profile of Green Bank Financing of Clean Energy and Efficiency
Projects

LAS VEGAS, April 7 /PRNewswire/ -- Representatives of the Coalition for Green
Bank participate on a panel at the premier energy industry Platts Global Power
Markets Conference in Las Vegas today, bringing additional insights regarding
the Green Bank proposed in the Green Bank Act of 2009 introduced on March 24
by Congressman Chris Van Hollen to catalyze financing of clean energy projects
and energy efficiency projects. The Coalition for Green Bank (the Coalition or
CGB) is a consortium of energy industry leaders including renewable resource
developers, original equipment manufacturers, investors, financial advisors
and consultants dedicated to unleashing a new era of private investment in the
green energy for clean and sustainable energy, enabling job growth, and
economic development. The Coalition is chaired by Reed Hundt, former Chairman
of the Federal Communication Commission and Todd Filsinger of PA Consulting
Group, who is also moderating today's panel. Mr. Phillip Gennarelli, President
of Cavallo Energy, LLC and Monty Humble, General Counsel, Mesa Power Group,
LLC, both founding Coalition members, are presenting at the panel.

The proposed Green Bank will be an independent, tax-exempt, wholly owned
corporation of the United States, with the exclusive mission of providing a
comprehensive range of financing support to qualified clean energy and energy
efficiency projects in the U.S. The proposed Green Bank Act would provide the
Green Bank with an initial capitalization of $10 billion through the purchase
of the Bank's capital stock by the Department of Treasury, using proceeds from
the Treasury's issuance of $10 billion in Green Bonds. The Secretary of the
Treasury may issue additional Green Bonds to acquire additional capital stock
of the Green Bank up to a maximum of $50 billion. The ten-year goal of the
Green Bank will be to directly or indirectly support financing up to 50% of $1
trillion in private investments in clean energy and energy efficient projects.
The proposed Green Bank Act includes spending safeguards and public disclosure
requirements to ensure that the Green Bank operates at the highest levels of
efficacy, accountability and transparency required by taxpayers for their
financial support.

According to the Coalition, the Green Bank will help to mitigate the costs to
consumer of policies seeking to transition the economy towards lower carbon
energy production and consumption by helping to facilitate private investment
in an average of 15 GW of alternative energy every year at an assumed average
installed cost of $3,333/kw. The proposed Green Bank Act complements stimulus
and other energy legislation including Department of Energy Loan guarantees,
Treasury grants and renewable portfolio standards. A significant benefit of
the Green Bank is the impact on enhancing credit and efficiency in renewable
development by providing a creditworthy counterpart so long term power
contracts can support financing. Assuming lower interest costs and more
optimum leverage, it is anticipated that transmission development and
investment will be accelerated as financing costs are cut 20-30% through
financing provided by the Green Bank. In all, the effect will be aggregating
access to existing efficiency subsidies and credits.

According to the CGB, the proposed Green Bank Act is a critical stimulus for
the US transition to a cleaner energy future. Development of clean,
sustainable, renewable energy, critical to US energy independence, and
environmental and economic health has been throttled by current conditions in
the economic, financial and commodity markets. The proposed Green Bank
provides the capability to jump-start renewable energy development in the U.S.
and move the nation closer to energy independence.

CGB estimates that the Green Bank will also realize reduced annual energy
costs by $22.5 billion -- or $450 million per billion dollars invested. The
initiative is projected to cut carbon emissions by 29.6 million tons -- or
592,600 tons of CO2 per billion dollars invested, as well as increase
reliability of the electric grid all while reducing reliance on foreign or
fossil fuels. The proposed Green Bank Act will facilitate private investment
in the green economy, creating up to 1.5 million new and permanent jobs -- or
30,100 jobs per billion dollars invested -- including a large number in the
development and operation of renewable generation projects, component
factories, transmission and distribution facilities, smart grid technologies,
energy efficiency, and hardware and software components used in each of these
types of projects.

"The Green Bank is a critical step towards facilitating green power
development while meeting the primary objectives of CO2 reduction and economic
stimulus," stated Todd Filsinger, CGB co-chair and Global Head of PA
Consulting Group's Energy Capital Markets, "The environmental benefits are
unprecedented and have the potential to drive US emissions to 1990 levels by
2020."

"Critical next steps after the Act is passed are to immediately charter the
Green Bank and capitalize the $10 billion which will allow the bank to
guarantee debt from $40 - $90 billion per year depending on market
conditions," explained Phillip Gennarelli. "We need to authorize the Green
Bank to enhance credit support in customer commitments, and to finance tax
equity products."

"With the Green Bank acting as a wholesaler, we know that it will operate with
'good bank affiliates' in the existing retail bank industry," added Coalition
co-chair Reed Hundt.

The Green Bank will support financing for qualified energy and energy
efficiency projects such as wind farms and solar installations, transmission
lines, manufacturing plants, and energy efficiency programs. The Green Bank
is intended to operate in concert with the private sector to foster increased
access to renewable power. The Act will also facilitate financing of
long-term clean energy purchasing by governmental and non-governmental
not-for-profit entities to ensure wide deployment of clean energy and energy
efficient projects throughout the country.

Back on March 24 as the legislation was introduced, T. Boone Pickens noted,
"An alternative energy bank is a creative and needed way to jump start the
private sector's involvement in renewable and other alternative energy
projects. This money will be paid back and, at the same time, be a major down
payment on our efforts to reduce our costly and dangerous dependence on
foreign oil."

The US possesses abundant solar, wind and geothermal resources, as well as
tremendous opportunities to use energy much more efficiently, however, getting
renewable resources and efficiency projects to market can be challenging in
today's credit markets. The Green Bank Act of 2009 has received significant
interest from states, utilities, financial institutions, and other private
companies who have "finance-ready" renewable energy, transmission and
distribution, and energy efficiency projects that remain in limbo.

The Green Bank will make it easier to invest in the green economy, which in
turn will achieve key national objectives to achieve energy independence from
foreign energy sources; abate climate change by increasing zero or low carbon
electricity generation and transportation capabilities; realize energy
efficiency potential in existing infrastructure; facilitate the transition
from a carbon-based economy to a clean energy economy; create jobs; and foster
long-term domestic manufacturing capacity in the clean energy and energy
efficiency industries.

About the Coalition for Green Bank
The Coalition for Green Bank is a consortium of leaders in energy development
enterprises including renewable resource developers, original equipment
manufacturers, investors, financial advisors and consultants dedicated to the
stimulus of green energy assets for clean and sustainable energy and jobs, and
economic development. The CGB is proud to have the support of the Pickens
Plan, Mesa Power, General Electric, Cavallo Energy, US Department of Energy,
RES-Americas, American Wind Energy Association and many more. The GBC
comprises co-chairs Todd Filsinger (PA Consulting Group) and Reed Hundt,
steering committee members Monty Humble (Mesa Power Group, LLC), Phillip P.
Gennarelli (Cavallo Energy), Kenneth Marks ( Morgan Stanley), and coalition
members Steve Taub (GE Energy Financial Services), Michael Bruce (Manifest
Energy Group), Jason Scott (EKO Asset Management Partners), Thomas R Rosen,
(Green Amperage Partners, LLC), Dave Chen (Equilibrium Capital Group),
Mitchell Dong (Mohave Sun Power LLC), Tom Casey (CURRENT Group, LLC), Alan H.
Fleischmann, Bruce R. Thompson (US Mainstream Renewable Power Inc.), Steve
Boyd (Boyd Strategies), Michael Gergen (Latham & Watkins LLP), Harrison
Wellford (Terrawell Energy), William Gleason (Chinook Energy), Michael Peck
(MAPA Group), and Harold Borden (Cavallo/Cross Hudson).

SOURCE Coalition for Green Bank

Irina Dayton, +1-720-566-9927 (direct) or +1-303-478-6381 (cell), or Jane
Rubinstein, +1-212-843-8287 (direct) or +1-516-993-0708 (cell)