GBN Member Transaction Database

The CEFC has committed up to $175 million to develop Stage 1 of the Golden Plains Wind Farm, near Geelong. The project will include 122 wind turbines and generate 756.4 MW of clean energy to replace coal-fired generation. The estimated annual emissions abatement is an average 770,000 tonnes CO2-e, or more than 23 million tonnes CO2-e over the project’s 30-year lifetime.

Golden Plains Wind Farm is the first fully merchant wind farm in Australia to be financed by commercial lenders, with the CEFC commercial debt package crowding in an additional $1.8 billion of private sector capital. This includes 100 per cent equity from clean energy investor TagEnergy, in its first Australian investment. Debt providers include Westpac, Bank of China, Mizuho, German state-owned investment bank KfW, the Commonwealth Bank, and Danish Credit Export Agency EKF.

“The CEFC commitment of up to $70 million in debt finance for the Melbourne T3 Collingwood development is the first project to be financed through the specialist CEFC Timber Building Program. The CEFC has nominally allocated $300 million to the Timber Building Program, to help kick start mass timber construction in Australia, which has the potential to substantially reduce embodied carbon.

The 15-storey prime-grade office tower, located at 36 Wellington St Collingwood, will be one of Melbourne’s tallest hybrid mass timber buildings. It will deliver a dual emissions reduction impact – cutting embodied carbon levels by as much as 40 per cent1 during the construction phase and, once operational, target market leading net zero emissions. “

A CEFC investment in Australian company SunDrive will help commercialise revolutionary solar technology that replaces silver with copper to improve solar panel efficiency and reduce costs. At nearly 100 times cheaper than silver and far more abundant, the switch to copper has the potential to improve solar panel uptake by driving down costs. Leading the $21 million Series A round alongside Main Sequence Ventures, the $7 million CEFC commitment is made through the Innovation Fund, managed by Virescent Ventures. The raise has also attracted the support of private investment companies including Blackbird Ventures and Grok Ventures.

The Municipal Resilience Program (MRP) provides direct support to cities and towns to complete a municipal-driven workshop process that brings together climate change information and local knowledge to identify top hazards, current challenges, and community strengths. This process identifies priority projects and strategies to improve the municipality’s resilience to all natural and climate-related hazards.

Upon successful completion of the MRP workshop, municipalities are designated as “Resilient Rhody Municipalities” which enables municipalities to apply for dedicated MRP Action Grants to implement identified projects.

In August, DC Green Bank and Rainplan announced today the closing of an initial $2,000,000 deal to increase access and affordability for stormwater management infrastructure across the District of Columbia. The loan agreement is groundbreaking in its commitment to deliver financing for both commercial and residential projects as well as its approach to diverse and scalable projects, including surrounding green mobility hubs, houses of worship, local businesses, and residential communities.

DC Green Bank announced the closing of an innovative $1,000,000 joint venture with Latino Economic Development Center to support the delivery of dozens of new solar installations and energy efficiency retrofits for small businesses and community-serving organizations. The $1,000,000 venture will be capitalized by $900,000 from DC Green Bank and $100,000 from LEDC. Community borrowers can apply for loans ranging from $25,000 – $250,000 with repayment periods as long as 10 years, with larger loans possible on a case-by-case basis.

DC Green Bank closed a $7 million deal with PosiGen to accelerate the deployment of residential solar across the District for low-to-moderate income (LMI) residents. The loan agreement will unlock funding for the construction of up to 3,000 kW of solar capacity on approximately 320 homes across the District. The installations are expected to create hundreds of clean economy jobs in the construction phase and generate more than 3,600 MWh of renewable energy on a yearly basis, while avoiding more than 2,500 tons of CO2 equivalent annually.

DC Green Bank announced the closing of a more than $530,000 deal to accelerate the deployment of community solar across the District. The loan agreements will deliver funds for the construction of approximately 75 kW of capacity across 15 residential projects. In addition to the funds allocated for the construction of existing projects in the company’s pipeline, the deal also includes hundreds of thousands of dollars as part of a revolving credit facility to make financing available for the development and deployment of up to an envisioned 75 kW of additional community solar as well.

“The DC Green Bank closed an investment of more than $500,000 to support Shiloh Baptist Church of Washington as it pursues upgrades to its sanctuary building cooling system and considers additional building efficiency upgrades and capital improvements.
This investment is part of DC Green Bank’s Community Impact Initiative (CII) pilot program. The CII pilot is designed to support community-serving institutions, including houses of worship, as they pursue building and systems upgrades that increase energy efficiency, bring down operating costs, and allow them to direct those savings to other deferred maintenance needs.”

DC Green Bank closed a $255,728, 1.99% interest rate Navigator loan pre-development loan with local nonprofit affordable housing developer Mi Casa, Inc. The loan will support the financing of pre-development costs for a mixed-use and mixed-income construction project in Ward 5. The completed building is expected to deliver 27 units of affordable housing in addition to 3,000 square feet of new office space on the ground floor for Mi Casa’s headquarters as well as additional space for community use.

DC Green Bank Closed a $2 million revolving loan facility with Together Solar to bolster the company’s existing solar portfolio and support an expansion of solar deployment across the District. The loan facility will provide permanent financing for one of the region’s largest portfolios of existing solar installations, with a focus on the provision of solar to non-profits and faith-based institutions in the city.

DC Green Bank and City First Enterprise announced the closing of a $2.8 million investment partnership for small businesses in the District and to bolster the bank’s Commercial Loan for Energy Efficiency and Renewables (CLEER) Financing program. Small businesses can now apply for up to $150,000 in loans with interest rates as low as 3% through the new fund, and multifamily, commercial, or industrial property owners and commercial tenants can access up to $250,000 through CLEER to upgrade to clean energy systems, increase stormwater resilience, and improve energy efficiency. DC Green Bank will deliver an initial $100,000 loan-loss reserve to provide credit enhancement for the first $2 million of investment through the CLEER program.

DC Green Bank closed a $1.8 million permanent loan facility for a newly completed community solar project in Ward 7 of Washington, D.C. The long-term facility will support the recently completed community solar installation in the Fairfax Village community in Southeast D.C., which is slated to deliver as much as $2.3 million in electricity savings over the next 15 years and reduce nearly 1,000 tons of CO2-equivalent annually.

DC Green Bank Provided a $250,000 pre-development loan to finance the design and planning stages for an energy efficient and sustainable building in Ward 7 in Northeast Washington, D.C. It is estimated that the building will be 17,000 square feet and include 13 affordable condominium units, space for their corporate headquarters, as well as a grocery store. The building’s current design also includes rooftop solar panels and a stormwater recycling system.

DC Green Bank Provided a $650,000 revolving loan facility to allow for Green Compass to design, build, and operate an estimated five new stormwater management and green infrastructure projects over the next 18 months. Combined, Green Compass will be constructing approximately 10,000 square feet of new green infrastructure to reduce runoff and pollution, and improve local air and water quality. The new projects aim to divert up to 250,000 gallons of stormwater runoff that would otherwise enter the sewer system every storm.

DC Green Bank provided $1.7 million of construction loans to support the installation of solar panels at six condominium communities in Southeast Washington. D.C. Once completed, these installations will cut electricity bills in half for nearly 230 low- to moderate-income (LMI) residents in the District as part of the District’s Solar for All program. Additionally, the projects are expected to reduce nearly 1,000 tons of CO2-equivalent annually and are also projected to create 19 jobs during the construction phase.

DC Green Bank provided a $760,000 loan to D.C.-based company Flywheel Development to construct a 470-kilowatt solar installation at the Abrams Hall building in the Parks at Walter Reed. Abrams Hall was recently transformed into low- and moderate-income housing, which includes units for seniors and formerly homeless veterans.

The DC Green Bank is providing initial financing totaling $1 million to leading sustainable and DC-based firm Flywheel Development to fund its Solar For All installations in 2020 – a re-roofing and solar development effort focused on Wards 7 and 8 and backed by $3.2 million in solar assets.

By funding these projects DC Green Bank will not only help save DC residents millions in utility bills through the construction of nearly 1 megawatt of solar energy, reducing emissions by 1,100 tons of carbon dioxide annually, but also create jobs for residents and collaborative partnerships to help the District thrive.

NYGB entered into a construction-to-term facility alongside C-PACE to support the construction of Albany Hyatt, an all-electric hotel at a recovered brownfield site in downtown Albany. NYGB’s facility demonstrates senior lender comfort in investing in all-electric, new building projects with C-PACE financing.

In June 2022, NYGB increased its existing senior-secured revolving credit facility with Sealed Inc, an energy service provider, by $7.5 million. The upsize to NY Green Bank’s existing loan will increase Sealed’s ability to offer an innovative financing option to cover the costs of home energy efficiency and HVAC electrification measures. This transaction will enable Sealed to expand its current operations and complete additional energy-saving improvements in homes in NYS. Additionally, this transaction will help establish a track record for this type of performance-based financing and demonstrate the ability of these projects to achieve competitive risk-return profiles.

In June 2022, NYGB entered into a subordinated loan facility, originated through RFP 19, that will enable NYCEEC to make loans to finance energy efficiency projects in NYS that benefit Disadvantaged Communities. At present, Impact-focused lenders are undercapitalized relative to the scale of their need, so are unable to put significant capital to work in addressing market gaps to grow the market for clean energy and energy efficiency. NY Green Bank’s participation supports an impact-focused lender by providing capital to scale such investments to benefit disadvantaged communities.

In March 2022, NYGB provided an $8.0 million multi-draw term loan facility to e2i (dba Clean Asset Co., LLC). This transaction will enable e2i to build and retrofit high-performance, electric, affordable multifamily homes in NYS.

In March 2022, NYGB provided an incremental $15.0 million to support the refinancing of Sunrun’s $600.0 million senior secured revolving credit facility. The original facility was $250.0 million, under which NYGB had a $25.0 million commitment. This transaction will enable Sunrun to continue supporting its distributed energy project portfolio for homeowners across NYS.

NZGIF is providing a $20 million finance facility to support Zenobē with the deployment of electric bus (E-Bus) fleets under long-term lease agreements with major operators in New Zealand. A further $30 million is being held in reserve to support additional uptake, which NZGIF hopes sends a strong signal to the public transport sector that commercial, zero emission solutions will be more accessible.

NZGIF has established an $8 million senior debt facility to fund the operation of solar panels on schools across New Zealand. It will do this by setting up a facility to provide financing for the installation of solar arrays (including operating costs) using power purchase agreements (PPAs). NZGIF is also holding $10 million in reserve for future extensions to the finance facility as demand grows. The new energy initiative, called solarZero Schools, will enable Kiwi schools to convert sunshine into solar energy to power their school and contribute to an increase in New Zealand’s renewable electricity generation capacity.