NY Green Bank Helps Finance Energy Projects
The New York Green Bank is open for business and seeking proposals from private sector stakeholders that facilitate the financing of creditworthy clean-energy projects in New York State.
The NY Green Bank will help facilitate private market financing of renewable energy and energy efficiency projects that have difficulty accessing financing due to market barriers. Eligible proposers include energy service companies, developers, equipment manufacturers or others that provide equipment, materials and/or services related to renewable energy and energy efficiency projects along with financial institutions or other third-party capital providers that are financing, or intending to finance, such projects.
Examples of the types of investment partnerships the NY Green Bank may engage in include credit enhancements, co-investing with the private sector in a loan fund for clean energy, loan warehousing/short-term project aggregation or other similar arrangements.
Last December, Governor Cuomo announced the initial capitalization of $210 million for the NY Green Bank.
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