By Thomas Weisel Partners
March 2009
The American Recovery and Reinvestment Act, signed into law by President Obama in February, includes provisions that attempt to counteract the credit crisis and spur investment in renewable energy
- Appropriates $6 billion to the DOE Loan Guarantee Program and expands it on a temporary basis to include certain “shovel-ready” projectsstarting by 9/30/11
- Provides $4.5 billion for modernization of the electric grid
- Provides approximately $21 billion to various federal and state programs including funding R&D; for renewables and energy efficiency, high performance green buildings, clean energy and efficiency projects and for the retrofit and weatherization of low-income housing
- Timminco Limited, a TSX-listed company, raised $20.2 million in a follow-on offering
- One cleantech IPO, Changing World Technologies, withdrew its IPO after its roadshow
- The largest private raise for the month was completed by Sierra Solar raising $40.0 million
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