CT Green Bank Wins “Innovations in American Government” Award – Launches Green Bank Academy with Prize

8 September 2017

The Ash Center for Democratic Governance and Innovation, a leading research center at the John F. Kennedy School of Government at Harvard University, named the Connecticut Green Bank the winner of the 2017 Innovations in American Government Award. The Green Bank, working in collaboration with the Coalition for Green Capital, will use the $100,000 prize (with a $100,000 match from the Green Bank) to launch the Green Bank Academy, which will support the replication of the green bank model.

CEFC backs leasing model to boost Australia’s EV uptake

6 September 2017

The Clean Energy Finance Corporation has backed a $100 million finance program that aims to accelerate the uptake of electric vehicles in Australia. The program, run by Macquarie Leasing, offers a 0.7 per cent discount on finance for electric vehicles, as well as for plug-in hybrid EVs and a range of eligible energy efficient and renewable energy equipment, including rooftop solar and battery storage.

People who choose eligible lower emissions passenger vehicles can also benefit from the program, with a 0.5 per cent finance discount. Investment in equipment to upgrade the energy efficiency of buildings, such as energy efficient lighting, building management systems and better air conditioning, can also access the discounted finance.

UK Green Investment Bank Officially Sold To Macquarie Group

18 August 2017

The sale of the UK’s Green Investment Bank, which has led more than £15 billion of investment into UK green infrastructure, has officially been sold to Australia bank Macquarie Group for £2.3 billion.

Two years ago in June 2015, the UK’s Green Investment Bank (GIB) announced that it was moving forward with plans to privatize in an attempt to further the already impressive success of the GIB. Earlier this year, after several months of rumors and reporting, one of Australia’s leading banks, the Macquarie Group, agreed to acquire the GIB for £2.3 billion and committed to the GIB’s established target of driving £3 billion in new green energy investments.

Australia solar market heads for 12GW by 2020

1 August 2017

Australia is on track to have as much as 12GW of solar PV installed by 2020, boosted by an expected 2.3GW of new utility-scale capacity that is expected to be added over the next three years, off the back of increasing cost competitiveness and government initiatives.

According to the report – the latest annual update from the Australian PV Institute (APVI), produced for the International Energy Agency – solar PV now accounts for 11 per cent of Australia’s national electricity generation capacity and 3.3 per cent of total demand.

But these numbers are set to grow, with the large-scale solar market set to boom, after a year where it played second fiddle to smaller-scale solar, installed on the nation’s homes and businesses in record amounts.

Connecticut Green Bank program reaches milestone

24 July 2017

A program overseen by the Connecticut Green Bank has topped the $100 million mark in terms of closed financing for energy efficiency and renewable energy projects that benefit businesses around the state.
The project that pushed the Green Bank’s Commercial Property Assessed Clean Energy, or C-PACE, program over the top was one that will be installed at the Farmington Sports Arena. The Farmington Sports Arena is a 130,000-square-foot, indoor sports facility with four indoor and three outdoor artificial turf fields as well as four natural grass outdoor fields.
The project involves installation two solar photovoltaic systems that will generate 170 kilowatts of electricity between them. The solar power generation systems are being installed by 64 Solar, a Port Chester, New York-based company.

CEFC makes $150 million loan to Moorebank freight hub, call for greener transport

13 July 2017

The Clean Energy Finance Corporation says transport projects need to make a bigger effort to tackle carbon emissions after making a $150 million loan to the $1.9 billion Moorebank freight hub, its first investment in transport infrastructure. “Governments that are commissioning infrastructure projects are increasingly putting pressure on the proponents in these tendering processes to demonstrate their green credentials, “ CEFC chief executive Ian Learmonth told the Australian Financial Review.

How to Reduce Energy Costs in Multifamily Buildings

29 June 2017

Multifamily energy efficiency initiatives have launched in several U.S. states. In 2016, a program aimed at generating energy savings for multifamily housing units in Connecticut – called Benchmark CT – launched. The program is available for 1,600 buildings and is a partnership between the Connecticut Housing Finance Authority (CHFA), the Connecticut Green Bank (CGB) and WegoWise. The latter provides monitoring and analytics that reduces energy and water use in multifamily homes.

Cities looking to ‘Green Banks’ to help fund sustainable infrastructure

29 June 2017

Cities are exploring how “green banks” can help fulfil their pledges not only under the Paris Agreement but also under the new Sustainable Development Goals (SDGs). What exactly are “green banks”?
As President Donald Trump this spring moved toward a decision to withdraw the United States from the Paris climate agreement, the mayor of the US capital city made her own announcement: She would seek to earmark millions of city dollars to lend to developers and others who want to bolster building efficiency, invest in renewable energy and undertake other ways to reduce carbon emissions.

In so doing, Washington Mayor Muriel Bowser was proposing to create the country’s first city-led “green bank” — a fast-growing strategy for using public money to reduce risk for private-sector investment in sustainable infrastructure and more.

This month, following Trump’s decision, Bowser was among the first mayors to pledge that her city would seek to uphold the Paris goals — an aim that her green-bank idea would help along.

New York’s green bank sees $2.7m profits

27 June 2017

New York State’s green bank generated profits of $2.7 million (£2.1m) in the last financial year.

This was achieved through investing a total of $291.6 million (£228.8m) in clean energy over the period, which has reduced emissions by up to 6.4 million tonnes, equivalent to removing 70,000 cars from the road for 20 years.

New York State Governor Andrew M. Cuomo says the money generated as a result of revenue exceeding expenditure will be re-invested into future renewable power transactions.

In addition to achieving positive net income and driving decarbonisation, the organisation’s investment portfolio was worth $346.1 million (£271.5m) by the end of March and is expected to leverage investments potentially totalling $1.4 billion (£1.1bn) over the lifetime of the projects.

Governor Cuomo said: “New York is taking aggressive action to reduce our carbon footprint and through the nation’s largest green bank, we continue to invest in smart growth strategies that will help make our communities cleaner, greener and stronger than ever before.

CEFC invests in lithium mine to help make Australia storage powerhouse

27 June 2017

The Clean Energy Finance Corporation has made its first investment at the start of the supply chain for the clean energy economy with a $20 million contribution to a new lithium-tantalum mining project in Western Australia.

The $US15 million investment is being made as part of a $US100 million secured bond issued by an offshoot of Pilbara Minerals, an ASX-listed company that hopes to extract lithium and supply the market for lithium-ion battery storage products for electricity and electric vehicles.

CEFC chief executive Ian Learmonth says the investment is the first of the kind for the CEFC, and is an example of how the CEFC can support the development of a strong supply chain to further enable Australia’s – and the world’s – transition to a low carbon economy.

“Lithium is an essential part of the clean energy transition, particularly as we develop enhanced battery storage technologies that will allow us to increase the use of renewable energy, both for large- scale and small-scale projects,” he said in a statement.

Solar Panels Will Power Manchester Public Housing Complex

23 June 2017

A solar panel array at the housing authority’s Westhill Gardens complex is to provide all the energy required for the 199 apartments and office.

The contractor, Siemens, recently installed the photovoltaic panels in an open meadow at the federally subsidized housing cluster off Hartford Road, housing authority modernization coordinator Gary Sweet said. Work is continuing and the project is to be done by August. The panels will save the authority $25,343 annually in energy costs, according to Siemens.

The panels have been installed in a 90- by 120-foot area, enclosed by a fence, north of House Drive and east of Case Drive. The field is on a hill that faces South, so the location is ideal, Sweet said. Eversource and Connecticut Green Bank have been helping the authority on the project, Sweet said.

A Bold Proposal To Unleash America’s Green Economy

22 June 2017

Today Sen. Chris Murphy (D-CT) and I put forward a plan to help our nation reclaim its leadership in the 21st-century clean energy economy. Our bill, called the Green Bank Act, will create a National Green Bank to provide financing support to regional, state, and municipal green banks, which in turn fund clean-energy and energy-efficient projects across the United States. It’s a market-driven plan to both fight climate change and create thousands of jobs in communities across the country.

Green bank Tony Abbott tried to kill dishes out $1.5b

8 June 2017

The Clean Energy Finance Corporation – the green bank former Prime Minister Tony Abbott tried to kill – has dished out more than $1.5 billion in investments and loans this financial year, a record that pushes its total commitments to more than $3.3 billion. New chief executive Ian Learmonth, a former Social Ventures Australia and Macquarie Bank executive, expects to maintain a comparable run rate next year as the CEFC embraces the distributed energy revolution. Mr Learmonth sees the report by Chief Scientist Alan Finkel adding to the momentum behind distributed energy – wind and solar power at the community, industrial and household level, increasingly augmented by batteries and smart software to manage them.

RateSetter matches investors with borrowers for clean energy

26 May 2017

Investors will be able to lend to residents to install clean energy in their homes, such as solar panels, after a tie-up between peer-to-peer lender RateSetter and the government’s Clean Energy Finance Corporation.

The Clean Energy Finance Corporation has put-up $20 million to be the cornerstone investor in the initiative as it seeks to broaden the base of its funding from businesses to households.

RateSettermatches investors and borrowers through its online marketplace. The appeal of peer-to-peer lenders is that borrowers pay lower rates of interest than they would on bank loans, while lenders stand to earn higher interest than they could get with a bank term deposit.

Connecticut Green Bank named finalist in national awards

23 May 2017

The Connecticut Green Bank has been named one of seven finalists in this year’s Innovations in American Government Awards competition. Harvard University’s Ash Center for Democratic Governance and Innovation at the John F. Kennedy School of Government will host the competition in Cambridge where a national selection committee will decide the $100,000 grand prize winner. Established in 2011, the green bank uses public and private funds to scale-up renewable energy deployment and energy efficiency projects across the state. “We created the (the green bank) to accelerate the deployment of clean energy in our state in order to promote energy security and economic growth, create new jobs in the clean energy sector, and address climate change,” Gov. Dannel P. Malloy said.

Canadian Solar secures non-recourse finance for 47 MW projects in Australia

3 May 2017

The Bank of Tokyo-Mitsubishi UFJ (MUFG) and Australia’s green bank Clean Energy Finance Corporation (CEFC) will jointly provide a 5-year loan against collateral – i.e. non-recourse funding, for Canadian Solar’s 17 MW Longreach plant, and the 30 MW Oakey project in Queensland.

For the projects in question, Canadian Solar had previously secured funding from the Australian Renewable Energy Agency (ARENA) to the amount of AU$3.5 million (US$ 2.7 million), as part of the Agency’s AU$100 million (US$ 75 million) pledge to solar PV projects.

“We are pleased to secure the financial backing from MUFG and CEFC, alongside the funding support from ARENA. These projects will directly contribute to the Queensland government’s commitment to generating 50% of its electricity needs from affordable clean energy by 2030.

GRID Alternatives, Connecticut Green Bank Kick Off Low-Income Solar Program

28 April 2017

U.S. nonprofit solar installer GRID Alternatives has marked its expansion into the Connecticut market through a collaboration with the Connecticut Green Bank to install no-cost solar on multifamily affordable housing units across the state. The expansion was announced at a live solar installation Thursday on the 57-unit Fair Street Apartments in Norwalk, Conn. The project, financed by the Connecticut Green Bank, is one of the first of its kind in the state, and will provide over $360,000 in lifetime energy cost savings for affordable housing provider New Neighborhoods Inc.

New England Hydropower Energizes First Archimedes Screw Turbine site in U.S.

27 April 2017

New England Hydropower Company, LLC (NEHC) announced today that it has energized the first Archimedes Screw Turbine (AST) generation facility in the United States at the Hanover Pond project in Meriden, Connecticut. The facility, financed with a combination of public and private capital via the first official “Green Bond” issued by the Connecticut Green Bank (Green Bank), is expected to generate 920,000 kWh of electricity annually to Meriden under a long-term agreement with the City.

GIB chairman responds to government statement on sale

20 April 2017

UK Climate Change and Industry Minister Nick Hurd MP today announced in a statement that HM Government (HMG) has agreed to sell UK Green Investment Bank plc (GIB) to a Macquarie-led consortium.

HMG subsequently issued a press release announcing the acquisition, followed by an announcement by Macquarie. The response by Lord Smith of Kelvin, independent chair of GIB, is published here.

Gina McCarthy Named To Connecticut Green Bank Board

18 April 2017

Former EPA Administrator Gina McCarthy has been appointed to the board of directors for Connecticut’s Green Bank, a quasi-state agency that uses state funding to encourage private investment in green energy projects.

McCarthy, who also served as head of Connecticut’s Department of Energy and Environmental Protection from 2004-09, was named to the Green Bank board by Gov. Dannel P. Malloy Monday. ‘There is no greater imperative at this time than mobilizing more private investment in clean energy deployment in communities throughout Connecticut and across this country to combat climate change,’ McCarthy said in a statement”…

Australian Clean Energy Finance Corporation to finance grid-scale energy storage

10 April 2017

Australian green bank Clean Energy Finance Corp. (CEFC) has announced that it is working with the South Australian government to support Australia’s largest grid-scale energy storage project.

CEFC will help develop a financing package to aid the development of the project.

The South Australian government is supporting the construction of the country’s largest battery to store energy from wind and solar resources, as part of its $150 million Renewable Technology Fund” …

D.C. mayor proposes ‘Green Bank’ to fund emissions-cutting in nation’s capital

15 March 2017

D.C. Mayor Muriel E. Bowser wants to set aside $7 million in city funds next year to lend money to building owners and developers to make improvements that reduce greenhouse gas emissions in the nation’s capital.

The proposal for a “Green Bank” would have D.C. emulate similar but larger efforts underway in Connecticut, New York and several other Democrat-controlled states.

Tommy Wells, Bowser’s director of the Energy and Environment Department, said the fund would allow large building owners and those undertaking renovations to obtain affordable loans to replace aging heating, ventilation and cooling systems — among the largest sources of carbon emissions in the city” …

CEFC tips another $70m into big solar, as market confidence soars

13 March 2017

The Clean Energy Finance Corporation has signed off on Australia’s largest single large-scale solar financing deal to date, tipping another $70 million into a total of 165MW of big solar capacity in Queensland and Victoria and heralding a new level of investor confidence in the nation’s large-scale renewable energy market.

The three projects, which are being developed by Edify Energy alongside international renewable energy investor Wirsol, include the Whitsunday and Hamilton Solar Farms in Queensland, both 57.5MW, and the Gannawarra Solar Farm in Victoria, at 50MW.” …

Danbury Business Recognized for Solar Project

2 March 2017

Two local companies were among several businesses and individuals recognized for environmental work by the Connecticut Green Bank Thursday afternoon.

Ross Solar Group, of Danbury, and Defeo Manufacturing were recognized for installing a 64.7-kilowatt-rooftop solar system and replacing the roof at Defeo Manufactuting’s Brookfield facility. The work earned the companies an outstanding project award. It was also the first C-PACE project to close through the Green Bank’s Energy on the Line program” …

CEFC Plans to Repeat Solar Success in Battery Storage

2 March 2017

Clean Energy Finance Corporation chair, Jillian Broadbent, says Australia’s energy system can safely accommodate significantly higher levels of renewable energy, as long as this was “planned and coordinated” with the rollout of smart technologies, including demand management and battery storage.

Speaking on the subject of Australia’s Energy Future, at a conference hosted by UTS, ISF and BNEF on Thursday, Broadbent outlined the kind of technological solutions the green bank would be backing to help achieve what the PM likes to call the “energy trifecta” of security, sustainability and affordability” …

Phase I of Australia’s largest solar PV plant reaches financial close

14 February 2017

The project received a debt funding arrangement of approximately AU$100 million (US$76.9 million) from Société Générale, with the Clean Energy Finance Corporation (CEFC) taking care of the EPC requirements and O&M costs. In fact, Kidston is the latest project to receive finance under the CEFC’s large-scale solar financing programme. “The CEFC is delighted to be part of the Kidston Solar Project Phase One, with our tailored finance helping accelerate the construction and delivery of the 50MW large-scale solar farm on this unique site,” said CEFC large-scale solar lead Gloria Chan. “Energy storage solutions such as pumped hydro are one of the next steps in our clean energy transition. With the cost of solar generation continuing to decline, we are committed to working with developers such as Genex to finance opportunities that can complement Australia’s growing renewable energy capacity, by adding energy storage and grid stability services” …

The Outlook for Energy from Waste in the UK

 

10 February 2017

Chris Holmes, head of waste and bioenergy at UK Green Investment Bank, examines what 2017 holds for the EfW industry amid the likely end of local authority-backed projects, the demise of subsidies and increasing competitiveness of contracts for difference, finding the answer may lie in the C&I market campaigns” …

CEFC accelerates large-scale solar construction in NSW with $150m investment

1 February 2017

Regional New South Wales will benefit from a $150 million investment from the Clean Energy Finance Corporation (CEFC), to accelerate the construction of three major solar projects with a total value of $230 million.
The three large-scale solar farms will be built in Dubbo, Parkes and Griffith in regional NSW. They are the first projects to receive debt finance under the CEFC’s large-scale solar financing program and, together, represent the CEFC’s most substantial commitment to large-scale solar to date. The CEFC has committed some $150 million in finance towards the $230 million total cost of the three NSW projects…

GreenSync raises $11.5Mn in series B to fuel global expansion

25 January 2017

Melbourne-based energy tech startup GreenSync has raised $11.5 million in a Series B funding round led by the federal government’s Clean Energy Finance Corporation (CEFC), Southern Cross Venture Partners (SCVP), and a private fund. To date, the startup has raised a total of $13 million. The round had CEFC, which administers the government’s Clean Energy Innovation Fund, contribute $5 million, with SCVP, backed by the Australian Renewable Energy Agency and Softbank China Capital, also contributing $5 million. GreenSync will use the funds to further develop its energy-tech product suit for the Australian market, expand its technology offerings to overseas markets, scale up operations, and help fund an expansion into Asia…

Fight the power! Farmer takes energy into his own hands

18 January 2017

Power prices are pushing many cane growers to the edge. With the battle against rising prices and the threat of tariffs striking fear into many, some irrigators are taking long term action to mitigate the impact of costly electricity. Bundaberg cane farmer Dean Cayley has taken his energy use into his own hands. After an energy audit from Bundaberg Sugar Services, he took advantage of finance from the government-owned Clean Energy Finance Corporation and has switched from winch irrigation to lateral irrigation…

Green Investment Bank Offshore Wind Fund Surpasses £1 Billion Target

16 January 2017

The Green Investment Bank Offshore Wind Fund has surpassed its £1 billion target with its sixth UK asset acquisition, with £1.12 billion worth of assets now currently under management…

London streetlights go green

2 January 2017

A London council is to start making its streetlights more sustainable. Barking and Dagenham Borough Council is to receive a £6.8 million green loan from the Green Investment Bank (GIB). It will finance the replacement of around 14,790 traditional streetlights with efficient LED models and could eventually save the council up to £21 million…

NY Green Bank lends $25 million to fuel cell company

25 December 2016

The state-sponsored New York Green Bank is lending $25 million to an Albany-area manufacturer to expand fuel cell use at distribution centers for clients such as Wal-Mart and Home Depot…The Authority says the loan to Latham-based Plug Power will support the deployment of 1,300 fuel cell systems to distribution centers over the next three years. Under the agreement, Plug Power is to create up to 100 new jobs in New York.

Clean Energy Innovation Fund helps Australian manufacturer reinvent the wheel for global markets

22 December 2016

Australia’s Clean Energy Innovation Fund is to invest in a Geelong-based company that has developed world-leading technology to tackle one of the most difficult to address sources of carbon emissions – light vehicles. Carbon Revolution produces the world’s only mass produced one-piece carbon fibre car wheel… Drawing on finance from the Clean Energy Finance Corporation (CEFC), the Innovation Fund will commit $10 million to Carbon Revolution’s $50 million capital raising. The capital raising will support the company as its expands its output from under 6,000 wheels a year to more than 100,000 annually by 2021.

Foundation invests $3M in CT Green Bank

22 December 2016

A $3.6 billion private foundation said it has invested $3 million in the Connecticut Green Bank. The money from the Kresge Foundation, based in Michigan, will support the quasi-public agency’s solar and energy storage programs targeting affordable housing and other communities, the foundation said. The Green Bank has ramped up efforts meant to spur solar adoption by low-income homeowners. In 2015, it launched its “Solar For All” program, a public-private partnership with installer and financier Posigen.

Milford school system making move to solar energy

16 December 2016

The school system is making the move to solar energy as part of its ongoing initiative for energy conservation, and in keeping with the city’s direction. James Richetelli Jr., chief operations officer for the district, said solar will be part of a three-way partnership between the Board of Education, the city and Davis Hill Development LLC of New York. The Board of Education soon will request the Board of Aldermen approve the lease of school roofs; solar company DHD will install the panels and CT Green Bank will sell the electricity to the schools at a savings.

Green Bank backs Welsh bio

16 December 2016

The UK Green Investment Bank (GIB) has committed £35m of debt finance to a new £180m energy-from-waste plant near Flintshire in North Wales. GIB joins a lending club that includes Mitsubishi UFJ Financial Group, Siemens Bank and Natixis, with Barclays providing an equity bridge loan. The 18.8MW Parc Adfer facility is located at the Deeside industrial park and is expected to treat up to 200,000 tonnes of waste every year.

Queensland’s largest solar farm now feeding power to the grid

14 December 2016

Queensland’s largest solar power plant to date, the 25MW Barcaldine Regional Community Solar Farm, has begun generating and feeding electricity into the grid – just months after construction started on the project in July, and two months ahead of schedule. The $70 million, 90 hectare solar farm…received $22.8 million in funding from the Australian Renewable Energy Agency. The project, developed by Elecnor Australia, was also a recipient of $20 million in debt finance from the Clean Energy Finance Corporation (CEFC).

Does Connecticut’s Green Bank Hold the Secret to the Future of Clean Energy?

12 December 2016

Bryan Garcia, president of the Connecticut Green Bank, said he knew five years ago when it was created that it would be an important model for funding clean energy projects. He didn’t know it might become critical for funding them. In the face of a Donald Trump presidency that dismisses climate change and threatens to ignore its solutions, the future of clean energy may rely heavily on new approaches like the ones pioneered by the Connecticut Green Bank, the first-ever statewide one.

Connecticut Green Bank Turns Five

8 December 2016

The Connecticut Green Bank is marking five years of exceptional progress toward its goal of reducing the energy burden on households and businesses by mobilizing private investment into the state’s clean energy economy. Formed in 2011 by Governor Dannel Malloy and the General Assembly, the Connecticut Green Bank was the first of its kind in the United States. Today, it is not only considered the standard-bearer of the green bank movement but is also serving as the template for a recent national green bank proposal in Congress.

Monash issues ‘world first’ university climate bond

8 December 2016

Just months after Victoria’s state Labor government became the first government in Australia to issue its own green bonds, Victoria’s Monash University has become the first university in the world to issue a certified climate bond, raising more than $218 million to fund sustainable development in the tertiary education sector…The Clean Energy Finance Corporation, which revealed on Thursday it had made a $20 million cornerstone investment in the bond, said it created an important new asset class for the financing of clean energy projects in the university sector, and confirmed Monash University’s leadership role in this area.

Quantum Biopower unveils the state’s first food-to-energy facility

25 November 2016

Southington is now home to Connecticut’s first food waste-to-renewable-energy facility, bringing cutting edge technology and a new spin on recycling. Quantum Biopower, located at the site of the former town landfill at 49 DePaolo Dr., celebrated the completion of Connecticut’s first…

GIB appraises green impact of €100m Moroccan green bond

16 November 2016

Banque Centrale Populaire (BCP) today launched a €100m green bond at COP 22 in Marrakesh, the proceeds of which will be used to refinance its investments in selected renewable energy projects in Morocco.

GIB to launch Green Impact Report for potential commercial use

15 November 2016

The UK’s Green Investment Bank (GIB) has launched a methodology to quantify on the environmental benefits of a given infrastructure asset or portfolio. The bank believes its Green Impact Report could be sold to investors looking to rate the green credentials of an investment….

CEFC identifies states with strongest opportunities for bioenergy

14 November 2016

New South Wales, Western Australia, South Australia, Victoria and the Australian Capital Territory have the most supportive policies for the deployment of energy from waste and bioenergy projects, the Clean Energy Finance Corporation has found. CEFC Bioenergy Sector lead Henry Anning, who is addressing the…

Green Investment Banks Key to Achieving Global Climate Goals

14 November 2016

MARRAKECH – Leaders in global green investment today released a policy working paper, Green & Resilience Banks: How the Green Investment Bank Model Can Play a Role in Scaling Up Climate Finance in Emerging Markets, at an official side event of the 22nd Conference of the Parties (COP22) to the United Nations Framework Convention on Climate Change in Marrakech, Morocco…

Hostels to high-end: the Australian hotels embracing renewable energy

13 November 2016

Dozens of destinations have taken up solar PV in recent years, such as Lady Elliot Island Eco Resort in Queensland, which promotes its solar as part of an effort to save the Great Barrier Reef that guests are coming to visit, or the 1.8MW of solar panels installed at Ayers Rock Resort (with assistance of financing from the Clean Energy Finance Corporation) in a bid to capitalise on the desert heat…

Announcement on the Extension of the Green Technology Financing Scheme (Malaysia)

9 November 2016

YAB Dato’ Sri Mohd Najib bin Tun Abdul Razak, Prime Minister and Minister of Finance, during the Budget 2016 speech on 23 October 2015, had announced the extension of the implementation period of the Green Technology Financing Scheme (GTFS) until 31 December 2017.

CEFC-backed renewables fund launched by Palisade

1 November 2016

A $600 million specialised renewable energy fund targeting brownfield and late-stage wind and solar project development in Australia’s renewable energy market has been launched by Palisade Investments. Palisade’s fund, or PREF, was established in partnership with the Clean Energy Finance Corporation…

NY Green Bank Announces Financing Deal To Reduce Annual Energy Costs by $1 Million for Long Island’s Northport School District

1 November 2016

NY Green Bank today announced the closing of an equipment financing transaction with the Northport-East Northport Union Free School District (the District) in the Town of Huntington as part of an approximately $12.9 million energy efficiency project expected to reduce the district’s energy costs by more than $1 million annually…

Saving Money The Green Way

1 November 2016

The Ashford Clean Energy Task Force, Ashford Business Association, Ashford Agricultural Commission and the Babcock Library sponsored an informational expo on how to incorporate clean and cost efficient energy into farms, businesses, and homes…

PosiGen Solar Partner to Develop Strategies for Improving Solar Access for Low- and Moderate-Income Communities

31 October 2016

The federal government is supporting a clean energy public-private partnership which makes renewable energy more readily available to those who need it most. PosiGen is proud to announce that its solar partner, Connecticut Green Bank…

Transforming Australian clean energy investment: CEFC 2015-16 Annual Report

31 October 2016

The Clean Energy Finance Corporation Annual Report for 2015-16 has been tabled in the Australian Senate, fulfilling an important part of the CEFC’s transparency, information sharing and regulatory obligations. The online version of the report is available here. The CEFC committed a record $837 million in new investment in 2015-16, a 73 per cent increase on the previous year, supporting projects with a total value of $2.5 billion…

Investment in Woody Biomass Gasification and Power Generation Project

28 October 2016

The Green Finance Organisation (Japan) is pleased to announce its decision to invest 390 million yen in woody biomass gasification and power generation project developed by Koyo Electric Co., Ltd. This is the collaboration between Koyo Electric Co., Ltd. and local businesses in Kushima-city, Miyazaki Prefecture for small-scale combined heat and power (< 2,000 kW power generation), making practical use of unused biomass resources, principally thinned woods, left in the forest areas.

Green Bank Network Announces US$ 22 Billion Milestone at OECD’s Green Investment Financing Forum

26 October 2016

TOKYO – The Green Bank Network announced that in its first two years, the Network’s six founding members have closed transactions expected to mobilize over US$ 22 billion for clean energy projects around the globe, putting them on pace to exceed their collective goal of US$ 40 billion over five years announced in 2014. Green Bank Network members are mobilizing as much as 8 dollars in total investment for every one dollar of public capital invested in clean energy projects…

Connecticut Gets Federal Grant To Improve Solar Access For Low- And Moderate-Income Homeowners

24 October 2016

Connecticut is getting a $160,000 federal grant for a three-year effort to increase the number of low- and moderate-income people able to take advantage of the state’s solar-power programs. The U.S. Department of Energy grant is going to Connecticut’s Green Bank, the state’s clean-energy financing arm that was created to help residents and businesses switch to solar and other renewable energy sources. The funding is part of a $1.73 million federal allocation for the “SunShot” program in Connecticut, four other states and the District of Columbia. The program is aimed at making solar power more available to lower income families…

Green Investment Bank finance for Kent Street lighting scheme

24 October 2016

The UK Green Investment Bank has loaned £10.2m to Kent County Council to support its £40m programme to replace streetlights with energy efficient LED lights. Kent is to replace 120,000 streetlights by mid-2019, and expects a saving of £5m a year through lower energy costs, as the LED lights will cut its electricity demand by 60%. The programme is expected to avoid some 223,000 tonnes of greenhouse gas emissions during the lights’ lifetimes…

Future Megatrends of the Energy Industry Discussed at Harvard

21 October 2016

…Community wind or solar farm requires no upfront payment from the customers and collects a fixed monthly rate from the users…UnitedWind has successfully secured up to $4.0 million in revolving construction loans from NY Green Bank and US Bank to install over 160 distributed wind energy projects to serve customers in central and western New York. This transaction helped UnitedWind to break the financing barriers and scale up services rapidly…

UK Green Investment Bank Invests £28 Million in Energy-From-Waste Plant

7 October 2016

The UK Green Investment Bank has committed £28 million in debt financing to help fund a £142 million energy-from-waste project being developed near Edinburgh, Scotland. Announced on Thursday, the UK GIB committed to £28 million in debt financing to fund the energy-from-waste (EfW) plant set to be developed by Spanish environmental services company FCC Medio Ambiente SA. The Zero Waste: Edinburgh and Midlothian is a joint project between the City of Edinburgh Council and Midlothian Council, and upon completion is expected to process up to 155,000 tonnes of non-recyclable waste per year, with a capacity of 14.1 MW, enough to generate 94,000 MWh of electricity annually…

World needs $90tn infrastructure overhaul to avoid climate disaster, study finds

6 October 2016

The financial system will need to be adjusted to make this change, the report finds. Subsidies to fossil fuels, currently totaling about $550bn a year, will need to be eliminated; better planning of projects will be required; and tools such as green bonds and green investment banking will need to be deployed…

A Different Kind of Bank

26 September 2016

The fossil fuel divestment movement argues that where we invest our money either helps move toward a cleaner future or props up polluting industries that are driving climate change. Now government agencies are taking that idea to the next level by…

Solar energy promotion program offered for New London homeowners

20 September 2016

Resident Nick Roman said he’s been saving $100 per month on his electricity bill since having 33 solar panels installed on his roof in May 2015, along with an energy audit to make his Mansfield Road home more efficient…Roman was referring to the solar panel lease and energy-efficiency programs offered through a partnership of PosiGen, which installs and leases the panels and helps arrange the energy audits, and the Connecticut Green Bank…

The G20 Embraces Green Finance

5 September 2016

…China will have to develop a wide range of new financial instruments, including green credit, green development funds, green bonds, green equity index products, green insurance, and carbon finance. It must also introduce a host of specific policies, regulations, and incentives, including innovative use of the central bank’s relending operations, interest subsidies, and guarantees. And it must establish a national-level Green Development Fund, much like the United Kingdom’s Green Investment Bank…

Malaysian government doubles green tech financing limit to RM100 million

3 September 2016

As part of its continuing target of pursuing green growth for sustainability and resilience in accordance with the 11th Malaysia Plan and Budget 2016, the Government of Malaysia has increased the financing limit of the Green Technology Financing Scheme (GTFS) for green technology producers from RM50 million to RM100 million…

USD 15-m clean energy seed fund launched in Australia

2 September 2016

Artesian Venture Partners and the Australian government’s Clean Energy Finance Corporation (CEFC) today launched a AUD-20-million (USD 14.9m/EUR 13.6m) clean energy seed fund. The vehicle, the first of its kind in Australia’s clean energy sector, includes a AUD-10-million cornerstone investment from the new AUD-1-billion Clean Energy Innovation Fund…

India Green Bank to Power Clean Energy Market

31 August 2016

India’s headlong rush to boost renewable energy in keeping with the spirit of the Paris climate summit has been tempered with the difficulties project developers are facing to secure inexpensive finance, which can be best solved by establishing a green bank to strengthen the rapidly expanding clean energy market, a recent report has recommended…

RM1.5b business leads expected at IGEM 2016

19 August 2016

The International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM 2016), which aims to leverage on Asean’s regional fuel-mix target of 23% renewable energy use by 2020, has attracted positive response from global green corporations. … The exhibition and conference is organized by the Energy, Green Technology and Water Ministry with Malaysia Green Technology Corp as the co-organiser…

Biogas CHP project receives $17m from UK Green Investment Bank 

18 August 2016

A British farm is set to generate on-site power from agricultural feedstock after receiving over £13 million ($17 million) in funding from the UK’s Green Investment Bank. An anaerobic digestion plant will process locally-sourced poultry litter, straw and other feedstock to fuel a 2.2 MW combined heat and power (CHP) plant on Stud Farm in Rufford, Nottinghamshire…

The Malaysian Reserve: RM2.8b green projects approved under GTFS as of July

17 August 2016

Green projects worth RM 2.79 billion were approved under the Green Technology Financing Scheme (GTFS) as of July this year. The GTFS is a special financing scheme set up in 2010 to support the development of green technology in Malaysia…

State-Sponsored Solar Marketplace Launches in Connecticut

16 August 2016

As the exclusive online partner to the Connecticut Green Bank, EnergySage and its full set of resources are now available to Connecticut residents in search of comprehensive solar information via GoSolarCT.com. The newly launched site allows homeowners in Connecticut (US) research and comparison-shop for solar online, while helping local solar installers grow their business…

School Sisters of Notre Dame going solar

12 August 2016

The School Sisters of Notre Dame are going solar. “We don’t have enough space to generate all the electricity we need, but we’ll be able to reduce our electric bill,” said Alice Pisani, administrator of campus operations at the large complex on Belden Hill Road…

How Prospects May Improve for Federal Green Bank Bill

11 August 2016

Rep. Chris Van Hollen has introduced a bill that would create a federal green bank to provide loans and loan guarantees to help regional, state and local green banks finance clean energy and energy efficiency projects…

NY Green Bank Closes $37.5M Solar Deal With Vivint

8 August 2016

NY Green Bank, a division of the New York State Energy Research and Development Authority (NYSERDA), has closed a $37.5 million loan to residential solar developer Vivint Solar. The bank says the loan will result in approximately $167 million in new investment in New York’s growing clean energy economy and will help provide financing for thousands of new solar projects at homes across the state…

Join in the solar chorus, says council, as North Melbourne gets on the ball

7 August 2016

Councillor Arron Wood can understand why more businesses don’t put solar panels on their roof. It’s not because they don’t want to save money. And it’s not because they don’t want to do the right thing…

Meriden Enterprise Center Unveils New Solar Array

27 July 2016

The Meriden Enterprise Center  has completed a comprehensive two-part, multi-year energy efficiency project with the unveiling of a new rooftop solar array. The 215 kW solar photovoltaic installation will produce over 250,000 kWh of energy annually. The completion of the solar energy project is the final piece of an energy efficiency program financed using the Connecticut Green Bank’s C-PACE program (Commercial Property Assessed Clean Energy)…

CEFC’s record investment in clean energy

26 July 2016

The Clean Energy Finance Corporation (CEFC) committed $837 million to new investments in the Australian clean energy sector in the 2015–16 financial year, contributing to projects with a total value of $2.5 billion. As noted by the corporation’s CEO, Oliver Yates, this equates to more funds invested in a greater number and more diverse range of investments than in any other year…

Sunrun Expands Credit Facility to Grow Rooftop Solar Operations 

27 June 2016

Sunrun Inc., the third-biggest U.S. residential solar company, increased the size of its revolving credit facility to $245 million from $205 million. The facility will support the construction of rooftop solar projects in the U.S., and New York in particular…

Green Bank invests $2M in Southington Digester Project

2 June 2016

A Southington company has received a $2 million loan from the Connecticut Green Bank to build a $12 million food-waste-to-energy-plant. When complete, the $12 million project will produce up to 1.1 megawatts of electricity, or enough to power up to 800 homes…

Westpac Joins Green Bond Market with $500 Million Issuance

26 May 2016

Westpac said on Thursday the issuance had been certified by the Climate Bonds Initiative, and had already elicited a strong response from investors, including the Clean Energy Finance Corporation, which has committed $90 million as a cornerstone investor…

CEFC and Westpac Launch $200 Million Loan Program

26 May 2016

The Clean Energy Finance Corporation has teamed up with Westpac to offer low-cost finance to support local investment in solar, energy-efficient tech and low-emissions vehicles…

Cuomo Unveils NY Green Bank Investments To Bolster Solar

12 May 2016

Gov. Andrew M. Cuomo, D-N.Y., has announced the closing of four new NY Green Bank transactions, which are expected to generate up to $220 million in clean energy projects, including more than 6,200 residential rooftop solar installations across the state. NY Green Bank investments will also result in up to eight large, ground-mounted solar installations for commercial and industrial users, as well as 400 residential energy efficiency projects…