Lighting Science Group Corp. (LSCG)

[johnnyfiber]

Pegasus Capital Designing `Green Bank' to Fund Carbon Projects
By Ben Sharples - Sep 22, 2010 8:52 PM ET Tweet

Pegasus Capital Advisors LP, the U.S. private equity firm that manages almost $2 billion in assets, is helping set up a bank to fund carbon reduction, a former adviser to California Governor Arnold Schwarzenegger says.

Pegasus is “volunteering some time to help with the design and structuring of the green bank,” Terry Tamminen, 58, said in a telephone interview in Melbourne. He is an adviser to the firm, founded in 1995, according to its website.

Schwarzenegger announced at the Copenhagen climate conference in December the creation of an organization called R20, which will include state and provincial governments from North America, Africa, Asia, South America and Europe. The bank will be its investment arm and fund the development of projects including renewable energy ventures and sequestration, a process to store carbon pollution from coal plants.

The bank is in its “early stages” and a specific monetary figure hasn’t been targeted, Tamminen said in an e-mailed response to questions yesterday. The R20 will be formally established in California at the Governors’ Global Climate Summit 3 in November, he said. There have been talks with Australian states to join the group, Tamminen said.

In Copenhagen, delegates were planning to finish a two-year effort to replace the 1997 Kyoto Protocol, which limits emissions through 2012. Instead, they clashed over aid to developing countries, pollution-reduction goals and how to verify individual pledges. No binding treaty was adopted. The next round of international talks is scheduled to start at the end of November in Cancun, Mexico.


http://www.bloomberg.com/news/2010-09-23/pegasus-helping-design-green-bank-to-fund-carbon-projects-tamminen-says.html


===============================================================

http://www.google.com/search?q=Terry+Tamminen+green+bank&hl=en&sa=G&rlz=1R2ADRA_enUS351&prmd=vo&source=univ&tbs=vid:1&tbo=u&ei=nRjGTMyEN4SClAebwPS_DA&oi=video_result_group&ct=title&resnum=4&ved=0CCsQqwQwAw

===============================================================


Private equity firm Pegasus advises on establishing green bank in US
23 September 2010

US private equity firm Pegasus Capital Advisors is rumoured to be helping to set up a bank that would finance carbon reduction.

Terry Tamminen, a former adviser to California Governor Arnold Schwarzenegger, told Bloomberg Pegasus was giving guidance on the design and structure of the green bank.

The UK government has recently also announced plans to launch a Green Investment Bank to accelerate adoption of low-carbon technologies but uncertainty over its formation is already leading to it being a controversial proposal.

Bloomberg said a specific launch figure is yet to be targeted and any plans are still in the early stages.

Pegasus invests in middle-market companies across a range of industries and said all its advisers have expertise in the area of sustainable investing.

Copyright © 2010 NewNet

http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/energy-efficiency-by-technology-renewable-energy-news/private-equity-firm-pegasus-advises-on-establishing-green-bank-in-us.html