Companies are striving increasingly towards the green industry. A law firm considers green energy as the currency for the future. Vinson & Elkins LLP has established an office in Silicon Valley. It is an area where energy is taking an emerging step in respect to perceptions of the law firm.
Law companies going towards global energy capital seems to be an odd move. However, according to Houston attorney Boyd Carano, who is a managing partner of Vinson & Elkins Palo Alto office, there is great scope in alternative energies.
According to Carano, California is a leader in renewable technologies like photovoltaic, bio-fuel, concentrating solar power and energy conservation. It is highly possible that clean-energy companies are going to expand further in California. The cost of investing in renewable energy is relatively lower in California due to various ancillary benefits.
The three V&E partners were Carano, Kyle Fox, and Margaret Sampson who considered the move to Silicon Valley an ideal one. They consider that the energy sector will represent much for the future. This can include expansions into algae and other fuel facilities.
The new office will deeply spotlight on possible energy project development and finance. It will be willing to engage in venture companies. Moreover, according to Carano, the level of clean energy investment in the sector is already making the area a hotspot for further capital investment.
According to V&E many investors will try to indulge in the clean-energy industry by strategic alliances, joint ventures and other types of collations. The expansion plan by the law company is an abnormal diversification to some extent yet highly viable option.
The ‘fields are always greener elsewhere’ is not always a proven statement in the end. As V&E are going increasingly into alternative development projects, it must make sure it remains focused on its objective to expand in a stable manner.
source: Portfolio
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