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Bloomberg New Energy Finance CEO Briefs California Energy Leaders

SAN FRANCISCO, MARCH 5, 2014 - The Renewables 100 Policy Institute was pleased to participate in organizing a briefing on the Current State of EU and German Clean Energy Financing by Michael Liebreich, Chief Executive Officer of Bloomberg New Energy Finance (BNEF), before a distinguished delegation of California energy experts and regulatory leaders.

Mr. Liebreich, a world renowned expert on the global transformation toward clean energy, emphasized in his presentation that Europe is going to need a more uniform, flexible, digitized grid incorporating new technologies and solutions to ensure the continued seamless integration of renewable resources into the energy mix. To maximize grid efficiency, a more regional approach to transmission management and coordination will be required.

"We are finding the same to be true here in the U.S.," said Angelina Galiteva, Renewables 100 Policy Institute Founder and Board Chair. "A wider balancing authority and more visibility and coordination between the various energy networks results in a more efficient, reliable and cost effective operation of the grid."

Liebreich also cautioned that the current utility model like telecom and the airline industry needs to evolve, as the share of renewable electricity rises. He additionally pointed out that a tendency to focus on having cheap energy now saddles future generations with the high costs of fossil fuels and escalating pollution problems and costs. Renewable energy may require upfront technology investment, but then it is inflation froof, pollution free and limitless. Therefore it is important to quantify the cost of environmental externalities and allocate them to the lifecycle cost of operating the energy system.

The delegation attending the briefing, which included top ranking officials from the California Independent System Operator (CAISO), the California Energy Commission (CEC), and the California Public Utilities Commission (CPUC), will travel to Germany at the end of March 2014 to meet with high level European experts and authorities, in order to discuss how to advance ambitious greenhouse gas reduction and clean energy implementation targets. Among key topics addressed will be energy storage and other solutions for adapting the distribution and transmission grids to increasingly high penetrations renewable based power generation. The tour is the latest in a series of dialogues on energy and climate issues between high level California and German leaders that the Renewables 100 Policy Institute has organized in the last year.

 Angelina Galiteva is scheduled to speak on April 8, 2014 at the BNEF Summit 2014 in New York City.