GBN Member Transaction Database

The Connecticut Green Bank proudly announces that 27 Realty Drive in Cheshire has completed a second rooftop solar photovoltaic system installation financed by Commercial Property Assessed Clean Energy (C-PACE). The property serves as the headquarters for Barker Specialty Advertising Co. Inc., a family business and leader in the promotional products industry for more than 70 years. The first solar project was installed in 2021 at 55 Realty Drive.

The Connecticut Green Bank announces that Westport Tennis Club, 1696 Post Road East, Westport, installed a solar photovoltaic (PV) system on their roof using Commercial Property Assessed Clean Energy (C-PACE) financing. The 60.72 kW system is expected to save the facility more than $328,090 in avoided electricity costs over the 20-year financing term.

For more than 40 years, the Westport Tennis Club (WTC) has been serving the community with a safe, clean environment for play. Their facility features indoor, fully lighted Har-Tru courts providing year-round tennis lessons, clinics, and open courts for the whole family.

Enko Chem, Inc. today announced that, with support from the Connecticut Green Bank, the company has embarked on a robust clean energy program at its facility on Maritime Drive. The projected energy savings over 20 years are upwards of $10M including utility incentives, tax credits, and operational energy savings. The energy efficiency project is being financed utilizing a long-term, fixed-rate C-PACE loan totaling $3.6M. C-PACE is administered by the Connecticut Green Bank and is specifically designed for financing green upgrades, such as energy efficiency improvements or the addition of renewable energy sources.

The Connecticut Green Bank and its partners are proud to announce that their pioneering collaboration has secured innovative carbon credit capital funding to help accelerate the deployment of electric vehicle (EV) charging systems across the United States. Acting as an aggregator and facilitator for its partners, the Green Bank has opened access to a stream of patient capital that will help ensure the future viability of these charging networks and draws upon private sector funds to deliver a lower carbon transportation future for our communities.

The Green Bank’s roster of project partners originally included EV charging pioneers Volta, U-Go Stations, which Blink Charging recently acquired, Proterra, and the EV Structure Company. The consortium’s partners have expanded to now include Dominion Energy, Exelon, Optiwatt, EV Match, BLINK, AmpUp, and OpConnect. Together, these partners already have 725 EV charging stations across the United States enrolled with the project. The project is now poised to expand dramatically in size and geographic scope.

Rhode Island Infrastructure Bank has closed on a $515,000 Clean Water State Revolving Fund loan to the Town of Narragansett for site improvements at the Town’s Scarborough Wastewater Treatment Facility to better protect the site from coastal erosion.

Rhode Island Infrastructure Bank has closed on a $77,260,000 Green Bond to support clean water projects for the Narragansett Bay Commission and the communities of East Greenwich, East Providence, Middletown, Woonsocket, and Warwick, and for drinking water projects in the City of Providence.

Rhode Island Infrastructure Bank has closed on a $1,000,000 Clean Water State Revolving Fund Loan, with $400,000 in principal forgiveness, for the City of Providence to conduct studies into water quality issues impacting Mashpaug Pond (phosphorous), Roger Williams Park Ponds (phosphorous and bacteria), the Woonasquatucket River (heavy metals and bacteria), and West River (bacteria). Once completed, the studies will also provide a series of Best Management Practices to improve stormwater management and water quality.

Rhode Island Infrastructure Bank has closed on a $5,500,000 Efficient Buildings Fund loan for numerous energy efficiency measures to be implemented at Providence Water’s water treatment facility and pump stations.

Rhode Island Infrastructure Bank, the state’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners, has awarded $632,100 in Sewer Overflow and Stormwater Reuse Municipal Grant Program funds for stormwater management projects in East Providence, Pawtucket, and Little Compton.

Rhode Island Infrastructure Bank has closed on $15.8 million in loans for critical clean and drinking water infrastructure projects in the City of Newport.

Rhode Island Infrastructure Bank has closed on $9.8 million in loans for energy efficiency, drinking water, and septic system projects in the Town of Smithfield.

In August 2022, the Board of Rhode Island Infrastructure Bank voted to award a total of $1 million in Municipal Infrastructure Grant Program funds to the communities of Central Falls, New Shoreham, Burrillville, and Glocester for the completion of actionable, impactful projects identified through a request for proposals process

In January 2023, The Board of Rhode Island Infrastructure Bank voted to award a total of $2.5 million in Municipal Infrastructure Grant Program funds to the communities of Pawtucket, East Providence, North Providence, East Greenwich, Lincoln, and Cranston for the completion of actionable, impactful projects identified through a request for proposals process.

Rhode Island Infrastructure Bank closed on a $7.8 million Clean Water State Revolving Fund loan for the Town of Bristol to finance a number of upgrades to the town’s wastewater treatment facility including rehabilitating settling tanks, new dewatering equipment, and new piping.

NZGIF will supply up to $15m in working capital to Lodestone Energy, to further support the construction of five solar farms in New Zealand.

When completed, Lodestone’s solar farms will generate enough energy to power 50,000 average homes. Lodestone will become the largest independent solar energy generator in the country.

Kayasand, a distributor of premium sand manufacturing technology, is opening its first V7 high-technology manufacturing demonstration plant in New Zealand.
Kayasand’s plant uses waste products such as recycled glass, concrete and slag, and turns them into premium sand for concrete.

Kayasand has received the backing of New Zealand Green Investment Finance (NZGIF) via a $3.5 million equity investment. A further $1.8 million of private investment has been secured alongside the NZGIF investment bringing the total raise to $5.3 million.

NZGIF has made a $2.5 million equity investment in Ruminant BioTech (RBT), an innovative agri-tech company that has developed a sustained release methane inhibitor for livestock which is designed to achieve significant methane reductions.

This investment will help accelerate the growth of a company developing decarbonisation solutions for our largest emitting sector – agriculture.

The investment has also attracted significant private co-investment, with NZGIF investing alongside several domestic and offshore investors as part of a recent capital raise conducted with assistance from Northington Partners. Co investors include the US-based climate-focused VC fund Regeneration.VC and the NZ-based Centre for Climate Action Joint Venture investment fund.

New Zealand’s electric vehicle charging network is getting a boost with New Zealand Green Investment Finance’s $1m investment in EV charger and network management company  Thundergrid.

Thundergrid specialises in supplying EV charging stations and managing charging networks for major corporates and government organisations. By installing smart EV charging technology that adjusts power use around existing loads, Thundergrid can ease the load on the energy grid and enable vehicles to run on electricity instead of fossil fuels.

NZGIF’s $1m debt facility will enable Thundergrid to accelerate its rollout of EV charging infrastructure, and develop other services to help its customers. This includes the ability to schedule charging to take place during off-peak times, making charging cheaper and more effectively distributing load on the national grid.

New Zealand Green Investment Finance (NZGIF) is investing $10m in Solagri Energy to help rollout solar energy to New Zealand farms in a deal announced today. Based in Canterbury, Solagri provides an innovative ‘solar as a service’ offering tailored specifically for dairy farms in New Zealand. Solagri arrays are normally ground mounted on a quarter hectare close to the dairy shed and provide the farm with low cost electricity and long term energy price security.

The $10m debt finance facility provided by NZGIF is expected to finance around 120 solar arrays over the next three years, and these arrays are expected to help avoid 36,100 tonnes of CO 2-e emissions over the life of the assets.

In June 2021, NY Green Bank (“NYGB”) committed $14.9 million to a construction-to-term facility to finance the construction of up to 12.5 MW of community distributed generation (“CDG”) solar projects in New York State (“NYS” or the “State”). NYGB committed an additional $50.9 million in October 2022 to support additional projects of up to 36.9 MW. This transaction is expected to provide NYS residents and businesses a greater variety of energy choices and, ultimately, lower-cost clean energy.

On April 2021, NY Green Bank (“NYGB”) committed $25.0 million to a construction loan to finance the construction of a 65-room, energy efficient hotel in Gardiner, NY, named Wildflower Farms (the “Project” or “Hotel”). NYGB committed an additional $4.0 million in November 2022, bringing the total commitment to $29.0 million. NYGB will be supporting the Project alongside CleanFund Commercial PACE Capital, Inc.,1 marking its first investment alongside a C-PACE capital provider. This transaction demonstrates NYGB’s commitment to supporting high performance buildings and represents NYGB’s first debt investment in an energy efficient (“EE”) new construction property.

NY Green Bank’s facility will fund predevelopment expenses for services such as architecture, engineering, and Housing  Quality Standards (“HQS”) renovations and surveys across 88 buildings in 15 communities, collectively known as the Reid Apartments and Park Rock Consolidated Developments (“Reid and Park Rock”), as part of the New York City Housing Authority’s (“NYCHA”) Permanent Affordability Commitment Together (“PACT”) program.

NY Green Bank (“NYGB”) has entered into five transactions to accelerate the deployment of more than 14,500 solar projects at homes across New York State (“NYS”) by Sunrun, Inc. (“Sunrun”). Sunrun is a national solar provider that markets and develops residential solar energy systems. The five transactions complement each other – three provide financing to fund the purchase of materials and installation of the solar projects and two provide post-construction financing. One of the post-construction financings was arranged by Investec Bank PLC (“Investec”), an international specialty bank and asset manager, and the second post-construction financing was arranged by SunTrust Robinson Humphrey Inc. (“SunTrust”) and ING Capital LLC (“ING”). The equipment financing facility was jointly arranged by KeyBank N.A. (“Key”) and ING, respectively.

On December 19, 2022, NY Green Bank (“NYGB”) closed a $60.0 million participation in a $250.0 million term loan to Hecate Energy, LLC. NYGB’s participation in the term loan will support Hecate Energy, LLC in selling solar and battery storage projects in the early stages of development

On December 19, 2022, NY Green Bank (“NYGB”) closed a $21.0 million construction-to-term loan to PAZ Management, Inc. PAZ Management, Inc. will use NYGB’s facility to finance the construction and operation of an electrified, mixed-use property. The Phase 1 facility will finance the renovation of a former school building and new construction.

On June 2, 2022, NY Green Bank (“NYGB”) provided a $5.0 million subordinated term loan to the New York City Energy Efficiency Corporation (“NYCEEC”). On November 28, 2022, NYGB upsized this facility with an additional $5.0 million subordinated term loan. NYCEEC will use NYGB’s facility to make loans to finance clean energy and energy efficiency projects located in New York State (“NYS”) that benefit disadvantaged communities (“DACs”).