New York — Directly and Indirectly — Providing $227M in Energy Funding

October 22, 2015 By Carl Weinschenk

CuomoNew York Governor Andrew Cuomo yesterday announced three NY Green Bank deals. The arrangements enable private sector parties to provide clean and affordable energy for residential, commercial and agricultural customers. The NY Green Bank is enabling the deals with $49 million of its own money and helping to arrange as $178 million in additional private sector money.

The $49 million from the NY Green Bank will be divided between Level Solar, United Wind and Renew Financial.

Level Solar will get $25 million from NY Green Bank as well as support from the U.S. Bank. United Wind will get $4 million from NY Green Bank and a partnership with the U.S. Bank. ReHome New York will get $20 million from N.Y. Green Bank and a $50 million warehouse from Citi.

In July, about $100,000 was awarded to 83 communities across the state to support microgrid projects. The funding is part of the NY Prize competition, which supports community-based power under the state’s Reforming the Energy Vision strategy.

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