The information contained in this database (“Information”) has been compiled by the Green Bank Network Secretariat from publicly available information, and specific pieces of information are not necessarily approved by Green Bank Network Members. The information is for informational purposes only and must only be used for non-commercial purposes.  All other use and all copying, disclosure or reproduction of the Information or any part of it is prohibited (except to the extent permitted by law).

Neither the Green Bank Network nor any of its members makes any representation as to the accuracy, quality, completeness or fitness for purpose of any information contained herein and the Green Bank Network and each of its members disclaim all responsibility and liability for the Information (including, without limitation, liability for fault, negligence or negligent misstatement).

The GBN member investment figures in the transaction descriptions refer to committed funds at the time of transaction close and are not necessarily indicative of capital deployed. All transaction-level investment figures and other details are based on the best available information and estimates made at the time of transaction closing.

The taxonomy for Risk Mitigants used to describe the private sector engagement activities for each transaction are adapted from the Organisation for Economic Cooperation and Development’s report, Green Investment Banks: Scaling up Private Investment in Low-carbon, Climate-resilient Infrastructure. This taxonomy is used to generalize types of activities across GBN members and may not be reflective of the language individual institutions use to describe their investments, which can be found in their own media.

Some of the transactions may have been updated on GBN member websites but not yet in this listing, so please refer to member websites for the most up-to-date information. Note that individual institutions may have a document detailing a Summary of Revisions to transaction descriptions on their websites.

With questions regarding this transaction list, please contact contact@greenbanknetwork.org.

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Clean Energy Finance CorporationGreen Bank | MarchMonth 2018Year | AustraliaCountry
ResidentialMarket Segment | Energy Storage, SolarTechnology | Debt InvestmentType of Investment | DemonstrationRisk Mitigants/Transaction Enablers | View on Member website

Leading developer Mirvac is planning communities in Brisbane and Sydney where new homes aimed at first and new home buyers will have built-in solar-plus-battery systems that are expected to reduce household energy costs by as much as 90 per cent. CEFC is committing up to AU$90 million in debt finance as part of Mirvac’s broader financing of the masterplanned communities.Homes in the Mirvac developments will each come with a ready-to-operate 5.1kW rooftop solar system, alongside a 10kWh battery system. The three to four-bedroom homes will also incorporate high-grade insulation, LED lighting and energy efficient appliances.


Last Updated: 05/01/2018
Clean Energy Finance CorporationGreen Bank | MarchMonth 2018Year | New South WalesCity/State, AustraliaCountry
UtilityMarket Segment | SolarTechnology | Debt InvestmentType of Investment | DemonstrationRisk Mitigants/Transaction Enablers | View on Member website

Newcastle City Council’s Summerhill Waste Management Centre is transforming into a renewable energy hub with a 5MW solar farm being built alongside a 2.2 MW landfill gas generator and small wind turbine. The council has borrowed AU$6.5 million from the CEFC to help finance the solar farm, which is expected to save the council around AU$9 million over the life of the facility, once construction and operational costs have been factored in.


Last Updated: 05/01/2018
Green Finance Organisation (Japan)Green Bank | MarchMonth 2018Year | OkayamaCity/State, JapanCountry
UtilityMarket Segment | Small HydroTechnology | Equity InvestmentType of Investment | DemonstrationRisk Mitigants/Transaction Enablers |

GFO committed to invest US$0.8 million of equity in a small Hydro project in Okayama prefecture. In this project, Nishi Awakura village of the local government became the main sponsor and established the special corporation (SPC) for the project. The project is a new private-sector small hydropower plants, utilizing the abundant water resources of the Yoshino River crossing the village. Nishi Awakura village in the business site is located at the northernmost tip of Okayama prefecture, and has a population of about 1,500 with a population decline and an aging population. As a local government project, the deal will realize a regional model that maximizes the use of regional resources and achieves both low carbon sustainability and sustainable development. This project, along with existing village hydropower plants, will assure that the Nishikakura village electricity needs are 40% covered by hydroelectric power generation.


Last Updated: 06/25/2018
Clean Energy Finance CorporationGreen Bank | MarchMonth 2018Year | AustraliaCountry
MUSHMarket Segment | Smart Grid TechnologyTechnology | Equity InvestmentType of Investment | DemonstrationRisk Mitigants/Transaction Enablers | View on Member website

CEFC committed up to AU$10 million to Thinxtra as it scales up its IoT network to target sustainable and energy conserving uses. In early 2017, Thinxtra introduced the Smart Council Program to the first selected 50 councils. This unique and successful program promised and delivered Sigfox network coverage within 4 weeks at no cost to the councils (including free installation, free development kits for local incubators and free connectivity for smart council application developments). With the support of the CEFC, the program is extended to 100 Australian councils that are ready to make IoT a reality for their community.


Last Updated: 05/01/2018
Green Investment GroupGreen Bank | MarchMonth 2018Year | North Sea, EnglandCity/State, UKCountry
UtilityMarket Segment | Offshore WindTechnology | Equity InvestmentType of Investment | Co-investmentRisk Mitigants/Transaction Enablers | View on Member website

GIG acquired a 25 per cent interest in Westermost Rough offshore wind farm from Marubeni Corporation. GIG is a member of a consortium with Macquarie European Infrastructure Fund 5 (MEIF5) and the Universities Superannuation Scheme (USS) that already owns a 25 per cent stake in Westermost Rough. Ørsted also owns a 50 per cent interest in the project.

Located 8km off the Holderness coast in the United Kingdom, the 210 MW wind farm comprises 35 Siemens Gamesa Renewable Energy 6 MW direct-drive turbines and has been in commercial operation since June 2015. Westermost Rough represented the first commercial deployment of the 6 MW turbine anywhere in the world and was GIG’s and Marubeni’s first investment in a UK offshore wind project at the construction stage. Together, GIG and Macquarie have invested in almost half of the UK’s offshore wind capacity.


Last Updated: 05/01/2018
Clean Energy Finance CorporationGreen Bank | FebruaryMonth 2018Year | AustraliaCountry
TransportMarket Segment | Low Emissions TransportTechnology | Debt InvestmentType of Investment | Fund investment, Interest rate buy-downRisk Mitigants/Transaction Enablers | View on Member website

Major commercial auto and equipment lender Metro Finance’s Metro Green initiative is working to increase the uptake of low emissions passenger and light commercial vehicles. Metro Finance, which has an extensive broker network across Australia, is offering a 0.7 per cent discount on the standard rates offered to customers who purchase lower emissions passenger and light commercial vehicles that meet predetermined standards. CEFC committed up to AU$50 million in finance for the program, which is part of its broader focus on reducing transport-related emissions through the Sustainable Cities Investment Program.


Last Updated: 05/01/2018
Clean Energy Finance CorporationGreen Bank | FebruaryMonth 2018Year | AustraliaCity/State, AustraliaCountry
ResidentialMarket Segment | Energy EfficiencyTechnology | Debt InvestmentType of Investment | Cornerstone stake, DemonstrationRisk Mitigants/Transaction Enablers | View on Member website

National Australia Bank (NAB) is the first Australian bank to launch a green bond backed by residential mortgages that meet international low carbon buildings criteria. CEFC made a cornerstone investment of AU$25 million in NAB’s $300 million tranche of Class A1-G Notes that has been certified by the Climate Bonds Initiative (CBI).

The CBI has reviewed Australian building codes and energy ratings schemes to determine which are in line with these trajectories. Buildings approved under those codes and energy ratings schemes can automatically be deemed compliant with the Low Carbon Buildings criteria and eligible for CBI certification, providing confidence for investors about the sustainability of the underlying assets. NAB’s green notes were part of a larger non-certified AU$2 billion Residential Mortgage Backed Securitisation (RMBS).


Last Updated: 05/01/2018
Clean Energy Finance CorporationGreen Bank | FebruaryMonth 2018Year | AustraliaCountry
AgricultureMarket Segment | Energy EfficiencyTechnology | Equity InvestmentType of Investment | DemonstrationRisk Mitigants/Transaction Enablers | View on Member website

The agricultural platform of Macquarie Infrastructure and Real Assets (MIRA) is targeting major clean energy benefits in Australian agriculture, working alongside the CEFC and the CSIRO. The CEFC investment will contribute to sustainable on-farm asset management practices, with MIRA investing in farms across multiple climatic zones, production regions and end markets.

A technology-driven whole-of-farm approach, incorporating the full range of precision agriculture and other sustainable farm management practices, will deliver increased productivity with improved energy efficiency. A key feature of the CEFC AU$100 million investment is the establishment of a specialist Energy, Emissions and Efficiency Advisory Committee – 3EAC – drawing on the skills of the CSIRO, MIRA and CEFC.


Last Updated: 05/01/2018
Green Finance Organisation (Japan)Green Bank | JanuaryMonth 2018Year | HokkaidoCity/State, JapanCountry
UtilityMarket Segment | BiogasTechnology | Equity InvestmentType of Investment | Co-investment, DemonstrationRisk Mitigants/Transaction Enablers | View on Member website

GFO committed to invest US$0.7 million of equity in a biogas project in Hokkaido. The biogas will be generated via fermentation of agricultural waste. Loans are co-financed mainly by regional commercial financial institutions. This project is the first biogas power generation project for Kadokawa Construction Co., and will be constructed using proprietary technology developed by collaborative research with Hokkaido University. In this way the project can be a pivotal step in the creation of future cases of implementation. The project will avoid 1,643 tonnes of carbon emissions annually. The project will also aid the establishment of “biomass industrial city concept” aiming at creation of employment by the new industry and activation of agriculture, forestry and fisheries industries locally.


Last Updated: 05/01/2018
Clean Energy Finance CorporationGreen Bank | JanuaryMonth 2018Year | New South WalesCity/State, AustraliaCountry
UtilityMarket Segment | SolarTechnology | Debt InvestmentType of Investment | Co-investmentRisk Mitigants/Transaction Enablers | View on Member website

CEFC supported the expansion of the emerging solar generation belt in regional New South Wales, committing AU$30 million in non-concessional senior debt finance to what will be the state’s largest solar farm. The 150MW (AC) Coleambally Solar Farm is being developed by Neoen Australia. The Coleambally Solar Farm will consist of about 565,000 solar panels on 550 hectares. The project has contracted 70 per cent of its output to EnergyAustralia. The Coleambally site was chosen after a feasibility assessment confirmed there was an abundant solar resource at the location, which also boasts an existing electricity substation with grid connection capacity.


Last Updated: 05/01/2018
CT Green BankGreen Bank | Open Program SinceMonth 2014Year | ConnecticutCity/State, USACountry
C&I, MUSHMarket Segment | Energy Efficiency, SolarTechnology | Debt InvestmentType of Investment | Consumer education/marketing, Financing through tax payments, Securitization, Standardization/Data collection, WarehousingRisk Mitigants/Transaction Enablers | View on Member website

Commercial Property Assessed Clean Energy (C-PACE) is a structure through which commercial property owners can finance energy efficiency and renewable energy improvements through financing secured by a voluntary benefit assessment on their property and repaid via the property tax bill. A tax lien, or benefit assessment, is placed on the improved property as security for the loan, and the Connecticut Green Bank requires lender consent from existing mortgage holders prior to approving a C-PACE project. With C-PACE, property owners are able to finance projects over up to 25 years. Together with a statutory requirement that expected energy savings exceed financing obligations levied on their property tax bill makes for a compelling value proposition for businesses.

Of the capital deployed through the Green Bank’s C-PACE program 70 percent comes from private investors, including from a US$100 million facility established with a private sector investor, and C-PACE projects originated and financed through other capital providers. In 2014, the CGB became the first to securitize energy efficiency loans through C-PACE. As of Jan 30 2018, the C-PACE program has surpassed 200 closed projects totaling more than $114 million in clean energy investment in businesses.


Last Updated: 09/01/2018
NY Green BankGreen Bank | JanuaryMonth 2018Year | New YorkCity/State, USACountry
C&I, ResidentialMarket Segment | SolarTechnology | Debt InvestmentType of Investment | DemonstrationRisk Mitigants/Transaction Enablers | View on Member website

In August 2017, NY Green Bank provided a 12-month senior secured bridge loan facility of up to $11.5 million (the “Bridge Loan”) to Cypress Creek Renewables, LLC (“CCR”), a California-based integrated utility-scale solar provider. In December 2017, NYGB increased the Bridge Loan size by $13.5 million and extended the maturity date to December 2019. The Bridge Loan proceeds will finance project interconnection payments to utilities across New York State (“NYS”) for up to 72 community distributed generation (“Community DG”) solar projects. The overall $25.0 million financing facility is expected to support the deployment of up to 168 megawatts (“MW”) of photovoltaic (“PV”) solar in NYS, providing residents and businesses with a greater variety of energy choices and, ultimately, lowercost clean energy options.


Last Updated: 09/01/2018
CT Green BankGreen Bank | Open Program SinceMonth 2013Year | ConnecticutCity/State, USACountry
ResidentialMarket Segment | Energy Efficiency, Low Emissions Transport, SolarTechnology | Grant InvestmentType of Investment | Consumer education/marketing, Interest rate buy-down, Loan loss reserveRisk Mitigants/Transaction Enablers | View on Member website

The Smart-E residential loan program is a financing program developed in partnership with Energize CT and local lenders that uses a US$1.8 million loan loss reserve and interest rate buy-downs (US$4.3 million total) to stimulate the market for residential energy efficiency and solar loans in Connecticut. Through the product, the Connecticut Green Bank lowers the cost of capital for Connecticut residential customers seeking to install solar PV, high efficiency heating and cooling equipment, insulation or other home energy upgrades and reduces the loan performance risks to lenders. The US$1.8 million loan loss reserve is used to encourage lenders to offer below market interest rates and longer terms for unsecured loans, mitigates their losses, and encourages customers to undertake measures that would prove uneconomical at higher interest rates.


Last Updated: 09/01/2018
CT Green BankGreen Bank | Open Program SinceMonth 2013Year | ConnecticutCity/State, USACountry
ResidentialMarket Segment | Energy Efficiency, Solar, Water ConservationTechnology | Debt InvestmentType of Investment | Co-investment, Loan loss reserveRisk Mitigants/Transaction Enablers | View on Member website

Through a partnership with Capital for Change (C4C), a local Community Development Financial Institution, the LIME loan provides for up to 20 year terms for an unsecured low interest loan product geared towards mid-stream energy improvements and serving properties where at least 60% of units serve renters at 80% or lower of Area Median Income. Projected energy savings are used to cover the debt service of the loan. Up to 25% of the proceeds of each loan can be used for non-energy health and safety upgrades. CT Green Bank supports LIME with a US$625,000 loan loss reserve and has committed to lend US$3.5 million to capitalize the loan fund. This program is supported by a $5 million investment from the MacArthur Foundation to the Housing Development Fund and CT Green Bank.


Last Updated: 09/01/2018
CT Green BankGreen Bank | Open Program SinceMonth 2016Year | ConnecticutCity/State, USACountry
ResidentialMarket Segment | Energy Efficiency, Energy Storage, Low Emissions Transport, SolarTechnology | Debt InvestmentType of Investment | SubordinationRisk Mitigants/Transaction Enablers | View on Member website

This term loan provides gap financing enabling qualifying energy improvements to be implemented, as well as health and safety measures as needed. The loan product is subordinate, secured debt; unsecured debt may also be considered based on requirements of existing debt and property/project financials.


Last Updated: 09/01/2018
CT Green BankGreen Bank | Open Program SinceMonth 2015Year | ConnecticutCity/State, USACountry
ResidentialMarket Segment | Energy Efficiency, SolarTechnology | Debt InvestmentType of Investment | Co-investment, Fund investment, Leasing, SubordinationRisk Mitigants/Transaction Enablers | View on Member website

The Connecticut Green Bank offers a solar PV lease product targeted to the low-to-moderate income (LMI) population of the state through the solar developer PosiGen. The product is a partnership with PosiGen, a senior lender (Enhanced Capital) and a tax equity investor (U.S. Bank).

Connecticut Green Bank supplied the initial senior debt of US$5 million which has been subordinated to an additional US$5 million lent to the lease fund by Enhanced Capital to provide US$20 million in lease financing for solar projects targeting LMI homeowners. The Connecticut Green Bank is committed to lend an additional US$5 million as needed for future growth once an additional US$5 million in private capital is secured. The state’s Residential Solar Investment Program’s tiered LMI performance based incentive (PBI) provides PosiGen a significantly higher incentive for customers demonstrating these income requirements.


Last Updated: 09/01/2018
CT Green BankGreen Bank | Open Program SinceMonth 2012Year | ConnecticutCity/State, USACountry
ResidentialMarket Segment | SolarTechnology | Grant InvestmentType of Investment | View on Member website

The RSIP is a rebate program that provides incentives to offset the cost for homeowners to install solar PV systems. Incentives are provided either upfront (i.e., through an expected performance based buy-down or EPBB) for homeowners that want to own a system or over time based on system production (i.e., through a performance based incentive or PBI) for homeowners who want to lease a system from a third-party owner. CT Green Bank incentive is issued to the Contractor on behalf of the Customer. With either incentive type, the Renewable Energy Credits (RECs) are owned by the Connecticut Green Bank.

An energy audit is required to be conducted as part of all projects. In an assessment conducted in December of 2014, it was identified that solar PV deployment in the low-to-moderate (LMI) household market segments were not performing as well as the non-LMI
market segment. Back then, the LMI market needed to deploy between 2 to 10 times more solar PV to be on par with the non-LMI market segment. Thus, the RSIP now includes an LMI PBI to provide additional incentive to support the growth of solar PV deployment in this underserved market segment.


Last Updated: 09/01/2018
CT Green BankGreen Bank | Open Program SinceMonth 2016Year | ConnecticutCity/State, USACountry
C&I, MUSH, ResidentialMarket Segment | Energy Efficiency, Energy Storage, SolarTechnology | Debt InvestmentType of Investment | Co-investmentRisk Mitigants/Transaction Enablers | View on Member website

The Kresge Foundation made a US$3M program related investment in the CGB to support deployment of resilient renewable energy projects (to include energy storage) in urban and coastal communities. The PRI is a loan for 10 years and 2% interest. The aim is to fund 13 to 18 projects at affordable multifamily and community/critical facilities, with local businesses acting as community hubs.


Last Updated: 09/01/2018
CT Green BankGreen Bank | Open Program SinceMonth 2016Year | ConnecticutCity/State, USACountry
ResidentialMarket Segment | Energy Efficiency, SolarTechnology | Debt InvestmentType of Investment | Capacity development: Technical assistance, Consumer education/marketing, Loan loss reserveRisk Mitigants/Transaction Enablers | View on Member website

In a traditionally difficult sector to address, multifamily projects have a significant need for predevelopment financing, trusted technical support, and streamlined access to funding programs. In 2015, CT Green Bank developed a pre-development energy loan program to support property owners in identifying high-quality technical assistance providers, and to fund the work needed to scope and secure financing for deeper, cost effective energy upgrades. Through this program, CGB uses a US$650,000 revolving loan fund to directly offer loans of 0.0% (LMI) to 2.99% (non-LMI) and up to two year terms.

CGB originates these loans, in partnership with partners. Owners can petition for loan forgiveness of the Navigator loan, if for some reason a project is unable to proceed to implementation. The affordable multifamily version of this program is housed at the Housing Development Fund, a local CDFI, and part of a US$5 million program related investment from MacArthur Foundation is being used to support the program. Ideally, the pre-development loans will be used to help clients get to the point where they can take advantage of the LIME loan program.


Last Updated: 09/01/2018
CT Green BankGreen Bank | Open Program SinceMonth 2017Year | ConnecticutCity/State, USACountry
TransportMarket Segment | Low Emissions TransportTechnology | Grant InvestmentType of Investment | Consumer education/marketing, Interest rate buy-down, Loan loss reserveRisk Mitigants/Transaction Enablers | View on Member website

Connecticut Green Bank – in partnership with select local lenders and car dealerships – offers low-interest financing for EVs. The program is for a lmited time. Financing is available for new or used EVs. Maximum term is 72 months (lender participation may vary). Maximum loan amount is US$30,000. This program is for purchase only and not refinancing current car loans or lease-end buyout.


Last Updated: 09/01/2018
CT Green BankGreen Bank | Open Program SinceMonth 2017Year | ConnecticutCity/State, USACountry
C&IMarket Segment | SolarTechnology | Debt InvestmentType of Investment | Co-investment, Financing through tax payments, Fund investmentRisk Mitigants/Transaction Enablers | View on Member website

The Green Bank Solar PPA is a partnership between Connecticut Green Bank and Onyx Renewable Partners L.P. The joint program will provide funding for 15-20+ megawatts of commercial-scale solar projects in Connecticut. Onyx leverages its existing fund structure and relationships with Credit Suisse and future tax equity partners to capitalize and own solar photovoltaic projects originated by the Green Bank and local solar developers. This new Connecticut-specific allocation within Onyx’s larger commercial solar portfolio will build upon the success of the Green Bank’s Solar Lease 2 fund, which reached capacity in 2017.

The Green Bank Solar PPA fund will provide power purchase agreements to a broad range of property owners by making use of Connecticut’s Commercial Property Assessed Clean Energy (C-PACE) Program to allow unrated solar customers, including commercial, industrial, and non-profit property owners, to access financing alongside state agencies, housing authorities, municipalities, schools, and rated corporations. This innovative structure was pioneered under the Green Bank’s Solar Lease 2 program and has successfully opened the solar PPA market to customers traditionally excluded from solar financing.


Last Updated: 09/01/2018
CT Green BankGreen Bank | Open Program SinceMonth 2013Year | ConnecticutCity/State, USACountry
C&I, MUSHMarket Segment | BiogasTechnology | Debt Investment, Grant InvestmentType of Investment | SubordinationRisk Mitigants/Transaction Enablers | View on Member website

Per Public Act 11-80 Section 103, the Green Bank developed a three-year pilot program for AD by setting aside US$2 million a year for three years – for a total of US$6 million. Funds to support the pilot programs can be used as grants, power purchase agreements or loans. There are to be no more than five (5) AD projects, each no more than 3 MW in size at a support for projects of no more than US$450 per kW on a grant basis.

Through a subordinated debt position at 2% for 15 years, CGB serves 20% of the capital stack of food waste to energy projects that serve to reduce food and solid waste, while producing on-site renewable energy for waste water treatment plants in Connecticut.


Last Updated: 09/01/2018
Clean Energy Finance CorporationGreen Bank | DecemberMonth 2017Year | AustraliaCountry
C&IMarket Segment | Energy Efficiency, SolarTechnology | Debt InvestmentType of Investment | Co-investment, Fund investment, Interest rate buy-downRisk Mitigants/Transaction Enablers | View on Member website

ANZ joined with CEFC to establish a AU$150 million Energy Efficient Asset Finance program that makes it easier for businesses to invest in energy-efficient and renewable technologies that will help reduce their energy use, carbon foot print and fuel costs. Through the program, ANZ can offer a 0.70%p.a. discount to business customers on the standard asset finance rate for new assets up to AU$5 million that meet CEFC energy efficiency requirements.


Last Updated: 05/01/2018
CT Green BankGreen Bank | Closed Program SinceMonth 2018Year | ConnecticutCity/State, USACountry
ResidentialMarket Segment | Energy EfficiencyTechnology | Grant InvestmentType of Investment | Consumer education/marketing, Standardization/Data collectionRisk Mitigants/Transaction Enablers | View on Member website

The Benchmark CT initiative is offered through a partnership with CT Housing Finance Authority (CHFA), where WegoWise will benchmark 1,600 multifamily properties and guide building owners through an analysis to identify opportunities. The first year of benchmarking is offered for free. An initial 500 properties were benchmarked in partnership with New Ecology, Inc. between 2014 and 2015. The Green Bank and CHFA will leverage the benchmarking results to identify the highest priority targets across the portfolio for either predevelopment or term financing.


Last Updated: 09/01/2018
Green Investment GroupGreen Bank | DecemberMonth 2017Year | DublinCity/State, IrelandCountry
UtilityMarket Segment | Waste-to-EnergyTechnology | Equity InvestmentType of Investment | Co-investment, DemonstrationRisk Mitigants/Transaction Enablers | View on Member website

GIG entered into a partnership arrangement with Covanta Holding Corporation to jointly develop, fund and own new waste-to-energy projects in the UK and Ireland. GIG has underscored its commitment to the partnership by agreeing to invest EUR136 million in a 50 per cent stake in Covanta’s newly operational Dublin Waste-to-Energy Facility. Covanta and GIG have identified up to six projects across the UK for potential inclusion in the partnership. Once realised, these projects are expected to treat approximately 2 million tonnes of residual waste per annum.


Last Updated: 05/01/2018