Stoel Rives LLP
April 27, 2011
Following the remarkable success of renewable energy sources such as wind, solar, and geothermal, ocean and tidal energy is now beginning to capture the attention of the media, regulators, politicians, and the investment community. The vast potential energy resources waiting to be unlocked from the waves and tides are a tantalizing prospect for meeting our increasing energy demands.
In the last four years Congressional funding for Marine and Hydrokinetic (“MHK”) research increased from $10 million to $50 million. Last year alone, the Department of Energy awarded $37 million to 27 emerging MHK technologies through its Marine and Hydrokinetic Technology Readiness Advancement Initiative. Also in 2010, the Obama Administration developed the National Ocean Council, tasked with developing a coastal and marine spatial planning process for the nation’s coasts and the Great Lakes.
Despite the increase in financing available for research and development, harnessing these resources continues to be a technical and legal struggle. Property issues, regulatory and permitting requirements, tax matters, and contract negotiations are just a few of the hoops MHK projects need to jump through just to get off the ground.
Recognizing these challenges, and the ever-growing interest in this emerging technology, the Stoel Rives Ocean and Tidal Energy Team has prepared the fourth edition of THE LAW OF MARINE AND HYDROKINETIC ENERGY, the successor to three successful editions of “The Law of Ocean and Tidal Energy.”
“By adding the in-stream hydrokinetics to our previous coverage of wave, tidal, and other offshore technologies, we have created a comprehensive guide to the legal issues affecting MHK project developers,” said Stoel Rives Attorney and Marine and Hydrokinetic Energy co-author, Chad Marriott.
This updated edition includes up-to-date information on state regulations, coastal and marine spatial planning, and policy initiatives, and draws on experience the Stoel Rives team has developed from working actively on MHK projects and as a 15-plus year market leader in renewable energy law.
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