Stoel Rives Helps Tribal Energy Investment Co. Obtain Minority-Owned Business Certification in California
SACRAMENTO - Client Southern Ute Alternative Energy, LLC announced today in a press release that it has received certification as a Minority-owned Business Entity (MBE) from the California Supplier Clearinghouse. Southern Ute Alternative Energy, LLC is a wholly owned subsidiary of the Southern Ute Indian Tribe’s Growth Fund (www.sugf.com). Stoel Rives attorney Parissa Ebrahimzadeh from the firm’s Sacramento office assisted Southern Ute Alternative Energy, LLC in the certification process.
“We’re pleased to receive the MBE certification from Supplier Clearinghouse,” said Southern Ute Alternative Energy President Rebecca Kauffman in the company release (PDF). “Following certification, we can provide California utilities an option to help them meet their diversity requirements. We look forward to building on Southern Ute Indian Tribe’s strong business connections in the energy sector by partnering with California utilities on their MBE and renewable energy project goals.”
Under General Order 156, the California Public Utilities Commission (“CPUC”) requires large investor-owned utilities and their regulated subsidiaries in California to implement programs that expand their business relationships with woman and minority owned businesses (“WMBEs”). The Clearinghouse is a Commission-supervised entity which audits and verifies the status of WMBEs, and maintains a database of woman, minority, and service disabled veteran owned businesses that is accessible to both the CPUC and participating utilities.
As indicated by Kauffman, obtaining official MBE status can make a company an attractive partner for California power utilities seeking to promote MBE business opportunities under General Order 156.
Client Southern Ute Alternative Energy, LLC invests in renewable and alternative energy assets. The Southern Ute Indian Tribe is a AAA credit-rated organization whose commercial diversification division (The Southern Ute Indian Tribe Growth Fund) is involved in operating businesses in conventional and alternative energy, real estate, construction and private equity.