New York State’s one-billion-dollar[1] Green Bank opened for business in 2014 and has begun committing to transactions. The Green Bank’s self-professed sweet spot is investments between $5 million and $50 million.
Green Bank
New York’s Green Bank Committing To Diverse Transactions
By Elizabeth Holden, Robert McLaughlin, Michael Reyen, Daniel Spitzer | Hodgson Russ LLPSign up and get Breaking Energy news in your inbox.
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By Environmental Defense Fund Energy Exchange Blog
As innovative energy products and services come to market, so do new mechanisms to fund them. And existing funding options become more popular. This has resulted in a boom of finance jargon, especially regarding energy efficiency and renewable generation. Though many of the finance terms used in clean energy finance are similar to those used… Keep reading →
No you can’t deposit your money in a bank powered solely by wind and solar – well, maybe you can – but that’s not what the New York Green Bank (NY Green Bank) is about. This bank manages a pool of state money designated to help finance private sector renewable energy, energy efficiency and other… Keep reading →
There are some words in the business world that become swiftly debased: innovation and cleantech are, along with “crowd” anything, are among the worst of recent offenders. But that doesn’t mean that any of these terms fail to represent meaningful concepts for energy sector decision-makers, and if anything participants in energy business decision… Keep reading →
With a $210M initial funding approval, NY Green Bank is poised to begin operations in early 2014. On December 19, 2013, New York State Governor Andrew M. Cuomo announced $210M initial capitalization for the $1B New York Green Bank, a market-based clean energy funding initiative launched in September. The funding includes $165M Public Service Commission… Keep reading →
Connecticut’s Clean Energy Finance and Investment Authority – the state’s Green Bank, and the first of its kind of the country – has established a new solar financing system in a bid to expand capacity in the state. CT Solar Lease II seeks to avoid some of the most frequently-cited criticisms of renewable energy finance,… Keep reading →
New York State’s energy czar Richard Kauffman has a broad remit, from building a billion dollar “Green Bank” to remaking shamed utility LIPA, and he’s hit the ground running after taking the job 5 months ago. “The Governor [Cuomo] announced a billion dollar green bank, so we’re doing the work to set up that entity,”… Keep reading →
Richard Kauffman had a rapt audience at the AGRION Energy and Sustainability Summit in New York City as he opened the event with a largely off-the-cuff speech. He is a man known in the industry for handing out (and making) serious sums of money in energy, and has just been handed one of the highest profile, but least understood, new positions in the New York state government. Keep reading →
In his 2013 State of the State Address, New York Governor Andrew M. Cuomo proposed a $1 billion “Green Bank” to draw in private sector money and spark investment in clean energy projects. The Governor also named a “Cabinet-Level Energy Czar” to advance his clean tech strategies. The announcements are a step forward to promote renewable energy development and boost New York’s clean energy economy.
Governor Cuomo, at his 2013 State of the State address on January 9, 2013, announced innovative proposals to continue clean energy economy advancement. Central to his strategy is a $1 billion Green Bank, a fund that will draw in private sector money to match public funds and spur investment in clean energy technologies. The goal is to provide low-cost and low-risk financing for renewable projects and energy efficiency programs. Part of the funds from Energy Efficiency Portfolio, Renewable Portfolio Standards, and System Benefit Charge will fund the Bank and attract private investment. Governor Cuomo also named Richard Kauffman, Senior Advisor to Energy Secretary Steven Chu, as “Cabinet-Level Energy Czar.” Kauffman will oversee the Green Bank and head the new sub-cabinet formed to oversee clean energy policy and funding. Keep reading →
