International law firm Vinson & Elkins has opened a new office in Palo Alto, Calif. Among other areas, the office will focus on renewable energy project finance and development.
‘California is fast becoming the center of clean energy ventures and venture capital in the United States, especially for innovative technologies such as biofuels, photovoltaic and concentrating solar power, and advanced battery storage,’ notes Boyd Carano, one of three Vinson & Elkins partners who relocated to the new office. Carano will serve as managing partner at the new office.
‘Large segments of the clean energy sector are evolving beyond the traditional Silicon Valley investment strategy to encompass a longer-term, more capital-intensive approach, involving various financing structures for various stages of development,’ he adds.
SOURCE: Vinson & Elkins