31 October 2017
New York Gov. Andrew Cuomo (D) this week announced the state’s Green Bank is seeking at least $1 billion in additional private sector funding to help grow clean energy projects in the state. To date, the conservation-focused lending entity has enabled $1.4 billion in investment.
The bank’s “robust track record” has drawn the attention of third-party entities like pension funds and insurance companies, who are interested in clean energy investments, Cuomo’s office said. The bank will also be working with other states to help them establish similar entities.
The next step in finding additional funding will be for the Green Bank to issue a request for proposals for advisory services, to evaluate options for structuring and facilitating the request. That RFP is expected out by the end of the year.