new hire

Law firm expands energy transition-focused, Houston-based team

Jenny Speck joined Vinson & Elkins as a Houston-based partner in its Energy Transition and Tax Practices. Photo via velaw.com

An energy transition-focused legal team has on boarded its newest member.

Jenny Speck joined Vinson & Elkins as a Houston-based partner in its Energy Transition and Tax Practices. According to V&E, she will advise clients on energy transition tax incentives. Her experience includes working on renewable projects from onshore and offshore wind, solar, combined heat and power to biogas property, carbon capture, hydrogen, and more.

“Jenny has a commercial sensibility that our clients will value. She knows how to get deals done and is adept at calibrating tax advice to a company’s strategic objectives,” Vinson & Elkins Partner Sean Moran, one of the leaders of the firm’s Energy Transition Practice, says in a news release. “She is another phenomenal addition to our Renewable Energy and Tax Practices, which are booming as the Inflation Reduction Act continues to drive unprecedented investment and development in renewable energy.”

Joining V&E from Bracewell, Speck previously served as the senior manager of tax and regulatory compliance at Navigator CO2 Ventures LLC and also worked in the National Tax practice of Deloitte Tax LLP in Washington, D.C. She earned her undergraduate degree from Northeastern State University and her Juris Doctorate from the University of Tulsa College of Law. She's been ranked by Legal 500 U.S. and included in the Lawdragon 500 Leading US Energy Lawyers guide for “Energy Transition Incentives.”

“I have worked across from Vinson & Elkins on transactions and have seen the depth of their experience, along with the efficiency and camaraderie they bring to projects,” Speck adds. “I look forward to joining my new colleagues and strengthening their tax and energy powerhouse.”

She will work with partners Moran and Lauren Collins, who joined V&E along with four renewable energy and tax lawyers in 2021, as well as Jorge Medina, who was on boarded to the team earlier this year.

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A View From HETI

The project would nearly eliminate the emissions associated with power and steam generation at the Dow plant in Seadrift, Texas. Getty Images

Dow, a major producer of chemicals and plastics, wants to use next-generation nuclear reactors for clean power and steam at a Texas manufacturing complex instead of natural gas.

Dow's subsidiary, Long Mott Energy, applied Monday to the U.S. Nuclear Regulatory Commission for a construction permit. It said the project with X-energy, an advanced nuclear reactor and fuel company, would nearly eliminate the emissions associated with power and steam generation at its plant in Seadrift, Texas, avoiding roughly 500,000 metric tons of planet-warming greenhouse gas emissions annually.

If built and operated as planned, it would be the first U.S. commercial advanced nuclear power plant for an industrial site, according to the NRC.

For many, nuclear power is emerging as an answer to meet a soaring demand for electricity nationwide, driven by the expansion of data centers and artificial intelligence, manufacturing and electrification, and to stave off the worst effects of a warming planet. However, there are safety and security concerns, the Union of Concerned Scientists cautions. The question of how to store hazardous nuclear waste in the U.S. is unresolved, too.

Dow wants four of X-energy's advanced small modular reactors, the Xe-100. Combined, those could supply up to 320 megawatts of electricity or 800 megawatts of thermal power. X-energy CEO J. Clay Sell said the project would demonstrate how new nuclear technology can meet the massive growth in electricity demand.

The Seadrift manufacturing complex, at about 4,700 acres, has eight production plants owned by Dow and one owned by Braskem. There, Dow makes plastics for a variety of uses including food and beverage packaging and wire and cable insulation, as well as glycols for antifreeze, polyester fabrics and bottles, and oxide derivatives for health and beauty products.

Edward Stones, the business vice president of energy and climate at Dow, said submitting the permit application is an important next step in expanding access to safe, clean, reliable, cost-competitive nuclear energy in the United States. The project is supported by the Department of Energy’s Advanced Reactor Demonstration Program.

The NRC expects the review to take three years or less. If a permit is issued, construction could begin at the end of this decade, so the reactors would be ready early in the 2030s, as the natural gas-fired equipment is retired.

A total of four applicants have asked the NRC for construction permits for advanced nuclear reactors. The NRC issued a permit to Abilene Christian University for a research reactor and to Kairos Power for one reactor and two reactor test versions of that company's design. It's reviewing an application by Bill Gates and his energy company, TerraPower, to build an advanced reactor in Wyoming.

X-energy is also collaborating with Amazon to bring more than 5 gigawatts of new nuclear power projects online across the United States by 2039, beginning in Washington state. Amazon and other tech giants have committed to using renewable energy to meet the surging demand from data centers and artificial intelligence and address climate change.

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