Last week, California Governor Jerry Brown signed the Clean Energy and Pollution Reduction Act of 2015.  The law establishes ambitious energy efficiency and renewable energy goals for California, including increasing from 33% to 50% the procurement of California’s electricity from renewable sources and doubling the energy efficiency savings through energy efficiency and conservation.

Key provisions of the new law:

  • Renewable Energy: California’s existing Renewables Portfolio Standards Program aims to increase the amount of electricity generated from renewable energy sources to at least 33% by December 31, 2020.  The new law increases that renewable energy target to 50% by December 31, 2030, with interim targets of 40% by the end of 2024 and 45% by the end of 2027.
  • Energy Efficiency: The new law requires the California’s Energy Resources Conservation and Development Commission to set annual targets for statewide energy efficiency savings, with the goal of doubling of statewide energy efficiency savings in electricity and natural gas final end uses of retail customers (such as homes, businesses and factories) by January 1, 2030.  California’s Public Utilities Commission must establish efficiency targets for electrical and gas corporations consistent with this goal.
  • California Independent Systems Operator (“ISO”): Current law requires the ISO to ensure efficient and reliable operation of California’s electrical transmission grid.  The new law provides for the transformation of the California ISO into a regional organization to promote the development of regional electricity transmission markets in the western states.  Specifically, the new law requires the ISO to propose governance modifications to accomplish this goal, which must be approved and implemented by the state legislature.
Photo of Ingrid Rechtin Ingrid Rechtin

Ingrid Rechtin advises life sciences, technology, and other companies on complex transactions, with a practice spanning mergers and acquisitions, joint ventures, strategic investments, and other partnering arrangements.

With more than 20 years of experience, Ingrid represents public and private companies through transformative transactions…

Ingrid Rechtin advises life sciences, technology, and other companies on complex transactions, with a practice spanning mergers and acquisitions, joint ventures, strategic investments, and other partnering arrangements.

With more than 20 years of experience, Ingrid represents public and private companies through transformative transactions and other critical stages of their development. She draws on broad experience across transaction structures and industries to help clients achieve their strategic objectives, structure durable commercial relationships, and navigate legal and regulatory complexity.

Ingrid has a substantial life sciences practice, advising pharmaceutical and biotechnology companies on acquisitions and divestitures, option-to-acquire transactions, strategic investments, and other transactions that bring together corporate, commercial, intellectual property, licensing, and regulatory considerations. As a co-chair of Covington’s Technology Industry Group, she also advises on transactions involving AI, digital infrastructure, data centers, and other emerging technologies.

Ingrid regularly leads cross-border transactions involving businesses and operations across North America, Europe, Asia, and other key markets. She also has significant experience advising corporate venture capital and other strategic investors, particularly where an investment is coupled with commercial, governance, licensing, or acquisition rights. Her practice also includes global internal restructurings, complex commercial transactions, and acquisitions and divestitures of intellectual property assets.

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Photo of Mark D. Herman Mark D. Herman

Mark Herman is co-chair of Covington’s Insurance Recovery practice, which Chambers USA has described as “the pinnacle of policyholder representation across the USA.” Mark advises companies on insurance coverage and represents them in coverage litigation against their insurers.

Mark has helped clients recover…

Mark Herman is co-chair of Covington’s Insurance Recovery practice, which Chambers USA has described as “the pinnacle of policyholder representation across the USA.” Mark advises companies on insurance coverage and represents them in coverage litigation against their insurers.

Mark has helped clients recover hundreds of millions of dollars for a variety of losses and liabilities, including products liability and mass tort litigation (including relating to asbestos, talc, PFAS, and medical devices), securities litigation, professional liability claims, property losses and business interruption, and cyber events. He has successfully advised clients on claims under a wide range of insurance policies, including general liability, directors and officers liability (D&O), professional liability or “errors and omissions” (E&O), property, cyber, political risk, representation and warranty (R&W), aviation, and trade credit policies. Mark’s clients have included companies in the life sciences, financial services, energy, and defense and aerospace sectors, private equity firms and their portfolio companies, non-profits, and individuals.

Mark has successfully represented clients in trial and appellate litigation, including arguing and winning motions for summary judgment on key coverage issues. He also helps clients successfully resolve insurance claims without litigation by navigating the insurance claim process and counseling clients in settlement negotiations and mediation. Mark also advises clients on insurance and risk management issues, including policy placements.

For his successful representation of his policyholder clients, Mark has been recognized by Law360 as an “Insurance MVP” and a “Rising Star.” He has also been recognized in AmLaw’s “Litigator of the Week” column.

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