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 [email protected].

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NY Green Bank | January 2017 | New York, USA
C&I, Residential  | Solar | Debt Investment | View on Member website

In January 2017, NY Green Bank provided a 12-month senior secured US$1.0 million bridge loan facility to Distributed Sun, LLC., a national energy services provider, and its affiliate SUNEIGHT LLC. Upon DSUN’s request, NYGB increased the Bridge Loan size by US$2.0 million in March 2017. Bridge Loan proceeds will finance project interconnection advanced payments to New York State Electric & Gas Corporation for community distributed generation solar projects. This transaction is expected to provide New York State residents and businesses with a greater variety of energy choices and, ultimately, lower-cost clean energy opportunities.

Last Updated: 09/01/2018
Green Investment Group | January 2017 | Lincolnshire Coast at Skegness, UK
Utility  | Offshore Wind | Equity Investment | Demonstration | View on Member website

Lincs offshore wind farm is a 270 MW, 75 turbine offshore wind farm located 8km off the Lincolnshire Coast. It has been operational since 2013. The Green Investment Bank Offshore Wind Fund and managed co-investment entities acquired a 44% stake in the wind farm.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | December 2016 | Australia
C&I  | Energy Efficiency, Solar | Equity Investment | Fund investment | View on Member website

CEFC invested AU$100 million in the AMP Capital Wholesale Office Fund (AWOF), which is aiming to deliver a property portfolio of net zero carbon emission buildings by 2030. The CEFC investment in the AU$4.7 billion AMP Capital fund will help accelerate the development of world-leading energy efficient commercial property portfolios in Australia. The CEFC’s AWOF investment is another example of its focus on delivering clean energy solutions in Australian cities, as part of its Sustainable Cities Investment Program. Under its investment agreement with the CEFC, AWOF will target cutting emissions from its property portfolio to zero in just 13 years, exceeding the goals of the internationally-recognised Science Based Targets program, which aims for a minimum 55 per cent reduction in property sector CO2-e emissions intensity by 2050. AWOF will also aim for a portfolio-wide average NABERS Base Building Energy rating of 5.0 stars by 2020 and 5.5 stars by 2030.

Last Updated: 05/01/2018
Green Investment Group | December 2016 | London, UK
MUSH  | Energy Efficiency | Debt Investment | Standardization/Data collection | View on Member website

GIB has provided a GB£6.8 million Green Loan with the Barking and Dagenham London Borough Council that could save the council up to GB£21 million. The loan will be used to finance the replacement of around 14,790 traditional streetlights with new energy-saving LED alternatives. The refurbishment of around 3,300 streetlight columns and the installation of a new central management system are also covered by the agreement.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | December 2016 | Victoria, Australia
Transport  | Low Emissions Transport | Equity Investment | Demonstration | View on Member website

CEFC, through the Clean Energy Innovation Fund committed AU$10 million in equity as part of a AU$50 million capital raising that will help Carbon Revolution expand production from under 6,000 to over 100,000 wheels a year. Carbon Revolution’s innovative carbon fibre wheels offer an alternative to aluminium wheels, and are up to 13 times stronger and typically 40 per cent lighter. When fully integrated in car design, the wheel technology can deliver a six per cent improvement in fuel efficiency.

Last Updated: 05/01/2018
CT Green Bank | Closed Program Since 2016 | Connecticut, USA
C&I, MUSH  | CHP | Grant Investment | Loan loss reserve | View on Member website

When they were offered, incentives from CGB for CHP projects were capped at US$450 per kilowatt (KW) and a total budget of US$2 million per year for 3 years for CHP projects up to 5MW. This loan loss reserve program was directed towards CHP projects in Connecticut.

Last Updated: 09/01/2018
Clean Energy Finance Corporation | December 2016 | New South Wales, Australia
Utility  | Solar | Debt Investment | Co-investment | View on Member website

This transaction financed a 25MW (AC) solar farm over two sites, one east of Dubbo and one north of Narromine. CEFC committed almost a total of almost AU$150 million in finance towards the AU$230 million total cost of the Griffith, Dubbo, and Parkes solar farms. The projects also received a total of around AU$16 million from the Australian Renewable Energy Agency (ARENA) as part of their Large-Scale Solar Funding Round.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | December 2016 | Australia
Utility  | Smart Grid Technology | Equity Investment | Demonstration | View on Member website

CEFC committed up to AU$5 million in equity as part of an AU$11.5 million Series B capital raising by GreenSync. The finance, through the Clean Energy Innovation Fund, will help the business scale up its operations, expanding in Australia and overseas. The highly innovative clean technology company uses smart software controls to optimise the use of energy resources in electricity grids. Through smart controls and coordination, more renewable resources and battery storage systems can be integrated into the grid, extending the benefits to more businesses and consumers.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | December 2016 | New South Wales, Australia
Utility  | Solar | Debt Investment | Co-investment | View on Member website

This transaction financed a 30MW(AC) solar farm south-east of Griffith consisting of about 112,000 solar panels. CEFC committed almost a total of almost AU$150 million in finance towards the AU$230 million total cost of the Griffith, Dubbo, and Parkes solar farms. The projects also received a total of around AU$16 million from the Australian Renewable Energy Agency (ARENA) as part of their Large-Scale Solar Funding Round.

Last Updated: 05/01/2018
NY Green Bank | December 2016 | New York, USA
Residential  | CHP | Debt Investment | Co-investment, Leasing | View on Member website

NYGB and Bank of America Merrill co-invested in an approximately US$14.0 million tax-exempt equipment lease issued under the Dormitory Authority of the State of New York’s tax-exempt leasing program. The Lease will finance energy improvements, that will replace existing infrastructure at Hebrew Home for the Aged (“HHAR”)’s, Riverdale, New York facility with cleaner, more efficient equipment, generating substantial savings for Hebrew Home immediately and throughout the 20+ year lifetime of the equipment. The Lease, made under DASNY’s TELP, enables the tax-exempt financing for the Project and reduces borrowing costs to HHAR. NYGB’s participation in this transaction is significant because it extends the tenor of the Lease beyond the number of years BofA Merrill would normally finance, enabling deeper energy retrofits and less expenditures for HHAR – resulting in savings of approximately $1.6 million per year. A portion of those savings will be used for lease payments and the remainder will go directly to HHAR.

Last Updated: 09/01/2018
Clean Energy Finance Corporation | December 2016 | Australia
C&I, Utility  | Solar | Debt Investment | Fund investment | View on Member website

CEFC committed up to AU$50 million in senior debt finance to the AU$100 million IIG Solar Income Fund, which is managed by the Impact Investment Group. The IIG Solar Income Fund finances medium-scale Australian solar farms, providing equity investment opportunities for high net worth individuals, smaller institutional investors and foundations.

The IIG Solar Income Fund acquires solar projects after the completion of construction and has secured exclusive rights to acquire projects from the Impact Investment Group, enabling the group to continue its development of further solar projects. The CEFC’s involvement in the IIG Solar Income Fund broadens and deepens the range of finance products available to the renewable energy sector. This complements the CEFC’s direct finance for large-scale solar projects, as well as its co-financing programs with banks and other providers that enable businesses to finance the installation of rooftop solar.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | December 2016 | Victoria, Australia
MUSH  | Energy Efficiency, Solar | Debt Investment | Cornerstone stake | View on Member website

CEFC made a AU$20 million cornerstone investment in the world’s first university-issued certified climate bond, issued by Monash University. The AU$218 million climate bond, certified by the global Climate Bonds Initiative, creates an important new asset class for the financing of sustainability and clean energy projects in the university sector. Over two years, Monash University will allocate capital raised through the climate bond to a portfolio of projects that achieve certification in accordance with the standards of the Climate Bonds Initiative.

Last Updated: 05/01/2018
NY Green Bank | December 2016 | New York, USA
Residential  | Energy Efficiency | Debt Investment | Demonstration, Standardization/Data collection | View on Member website

NYGB made a bridge loan commitment of US$11.0 million to conduct energy improvements, primarily through the replacement of conventional lighting equipment with cleaner, more efficient LED lighting in 18 master-metered multifamily developments in New York City. The Project includes 30 different LED technologies, and is expected to generate savings of 10% – 15% of current annual energy expenses for the building owner. NYGB financing will create a borrowing history for a relatively new structure that can be replicated with NYCHA and other New York State public housing authorities that seek to utilize private capital financing for similar types of building upgrades.

Last Updated: 09/01/2018
Green Investment Group | December 2016 | North Wales, UK
C&I  | Waste-to-Energy | Debt Investment | Co-investment | View on Member website

GIB committed GB£35 million of senior debt to the construction of Wheelabrator Parc Adfer, a new GB£180 million waste-to-energy plant at Deeside Industrial Park in Flintshire, North Wales.

Last Updated: 05/01/2018
Green Finance Organisation (Japan) | December 2016 | Saga, Japan
Utility  | Onshore Wind | Equity Investment | Co-investment | View on Member website

GFO committed to invest US$2 million in wind energy power generation projects planned by Achiha Co., Ltd. Loan financing will be raised via syndicated loans. Tokyo Star Bank will act as arranger, with Saga Bank and Howa Bank as participating institutions. Using the above funds, Wakachiku Construction Co., Ltd. and Achiha Co., Ltd. will form a joint venture to construct the wind farm in collaboration with local operators. When work is complete, Hitachi Ltd. will maintain and manage the power generation facilities.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | December 2016 | Australia
Utility  | Onshore Wind, Solar | Equity Investment | Cornerstone stake, Fund investment | View on Member website

CEFC made a AU$75 million cornerstone equity commitment to Palisade Renewable Energy Fund (PREF), which is seeking to attract commitments from mid-tier and large institutional investors, to invest alongside co-investors, also managed by Palisade. These Mid-tier investors have historically had limited exposure to renewable energy investment opportunities because in many cases they lack the scale to be direct investors. The PREF, managed by Palisade Investment Partners (Palisade), has a target size of AU$500 million and invests in renewable energy projects in Australia.

PREF, one of Australia’s first dedicated renewable energy funds of significant scale, provides investors access to the Australian renewable energy sector through the acquisition and development of more than 500MW in renewable energy projects. PREF will primarily focus on large-scale solar and wind projects. It will benefit from Palisade’s comprehensive mapping of wind and solar farm development opportunities in Australia.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | December 2016 | New South Wales, Australia
Utility  | Solar | Debt Investment | Co-investment | View on Member website

This transaction financed a 55MW(AC) solar farm 10km west of Parkes consisting of over 200,000 solar panels that is expected to generate enough power for about 20,500 homes. CEFC committed almost a total of almost AU$150 million in finance towards the AU$230 million total cost of the Griffith, Dubbo, and Parkes solar farms. The projects also received a total of around AU$16 million from the Australian Renewable Energy Agency (ARENA) as part of their Large-Scale Solar Funding Round.

Last Updated: 05/01/2018
NY Green Bank | December 2016 | New York, USA
C&I  | Fuel Cell | Debt Investment | Co-investment, Demonstration | View on Member website

NYGB initially provided a US$25.0 million term loan facility to PP to finance the deployment of fuel cell systems powering forklifts in distribution centers across NYS. This loan was expanded to US$45 million in 2017.The Facility will allow PP immediate access to needed capital that is currently held as cash collateral in restricted accounts, rather than waiting for it to be released over time as payments are made through sale-leasebacks arrangements with tax equity providers. NYGB’s participation in this transaction is significant because it enables PP to deploy more systems and convert more forklift fleets in a shorter amount of time than would otherwise be possible under their current financial arrangement.

This transaction constitutes NYGB’s first investment in the fuel cell industry, which is still relatively small nationally but growing at an above-market average rate. As a result, many firms in the industry experience high borrowing costs. NYGB participation in the transaction aims to address those high costs for PP and other similar companies in the sector by making otherwise restricted capital available to PP, so they can continue scaling their business, including to the levels where capital costs are expected to be significantly reduced.

Last Updated: 09/01/2018
Clean Energy Finance Corporation | December 2016 | Queensland, Australia
Utility  | Solar | Equity Investment | Co-investment, Demonstration | View on Member website

CEFC’s AU$20 million Ross River investment is the CEFC’s first direct equity stake in a solar farm, sending an important signal to institutional investors about the commercial potential of greenfield clean energy developments. Palisade is taking a 50% stake. The project is underpinned by a 13-year contract with major retailer EnergyAustralia for electricity sales, the biggest single solar purchase deal signed in the country. The solar farm is sited on a disused mango plantation which has recorded high solar irradiance and is close to a grid connection point. The solar farm will cover more than 200 hectares and comprise feature some 450,000 solar panels which will use horizontal track the sun.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | December 2016 | New South Wales, Australia
Utility  | Onshore Wind | Debt Investment | Co-investment, Demonstration | View on Member website

A debt finance commitment of up to AU$120 million from the CEFC is demonstrating the bankability of large-scale renewable energy projects which have not achieved 100 per cent energy offtake agreements through long-term contracted power purchase agreements (PPAs). The CEFC is one of the co-financiers in the development of the AU$588 million 270MW Sapphire Wind Farm between Glen Innes and Inverell in northern New South Wales.

Project developer CWP Renewables secured a 20-year feed-in-tariff from the ACT Government for 100MW of Sapphire’s output and will trade the remainder of the project’s output on a merchant basis. The 270MW Sapphire Wind Farm, located between Glen Innes and Inverell in northern NSW, will feature the latest Vestas turbine technology, as well as transformers manufactured in Australia.

In a boost to the local community, the project will contribute to a Community Fund at the rate of AU$2,500 per turbine per year over the life of the project, to support local community interest groups and activities. Community members, local council and project representatives will jointly manage the Community Fund.

Last Updated: 05/01/2018
NY Green Bank | December 2016 | New York, USA
C&I, Residential  | Solar | Debt Investment | Co-investment, Revolving credit facility | View on Member website

NY Green Bank has entered into two transactions with SolarCity Corporation to accelerate the deployment of solar projects across New York State. The two transactions fund, respectively, a static pool of SolarCity’s existing solar assets (US$20 million revolving credit facility), and new solar projects ($US30 million term loan facility) – as one provides a five-year non-recourse term loan, and the other provides construction financing for SolarCity’s upcoming solar projects in New York. The post-construction term loan facility was arranged by Bank of America Merrill Lynch, a global corporate and investment bank engaged by SolarCity. SolarCity is the largest residential solar provider in NY.

NYGB’s participation provides SolarCity additional financial flexibility, and helps to strengthen the medium-term lending market as an alternative to refinancing through the traditional asset-backed security market or private placement market. This transaction demonstrates NYGB’s continued success in enhancing liquidity, decreasing the cost of capital for solar developers and installers, and helping reduce the cost of solar power to customers.

Last Updated: 09/01/2018
Green Finance Organisation (Japan) | November 2016 | Niigata, Japan
Utility  | Solar | Equity Investment | Co-investment, Demonstration | View on Member website

GFO committed to invest US$0.7 million in a solar power PV generation project planned by Oratte Niigata Community Energy Council. This is the first Regional Support Investment made by GFO. The Council was launched in December 2014 to promote the take-up of renewable energy with a focus on the local community, following a study group set up by Niigata City into regional area power generation with the participation of local residents. This project is a small-scale distributed solar PV power generation business, which will use ground sites, the rooftops of local public buildings and private companies, as well as factory rooftops and vacant land in Niigata.

Last Updated: 05/01/2018
Green Investment Group | October 2016 | Kent, UK
MUSH  | Energy Efficiency | Debt Investment | Co-investment, Standardization/Data collection | View on Member website

GIB agreed to part-fund the biggest non-Private Finance Initiative streetlighting project in the UK to date. It is providing Kent County Council with a GB£10.2 million Green Loan to help finance the local authority’s GB£40 million streetlight conversion programme. The project involves the replacement of 120,000 traditional streetlights with energy-saving LED alternatives and the installation of a central management system, increasing the efficiency of the local authority’s lighting stock while making it easier to manage.

Last Updated: 05/01/2018
Green Investment Group | October 2016 | Millerhill in Midlothian, near Edinburgh, Scotland
C&I  | Waste-to-Energy | Debt Investment | Co-investment | View on Member website

GIB committed GB£28 million of senior debt finance to a new GB£142 million waste-to-energy plant at Millerhill in Midlothian, near Edinburgh, Scotland. GIB joins a lending club that includes Investec, Siemens Bank and Credit Agricole. The plant will also be combined heat and power (CHP)-ready, meaning it has the potential to supply excess heat from its operations to nearby homes and businesses.

Last Updated: 05/01/2018
NY Green Bank | October 2016 | Suffolk County, New York, USA
MUSH  | Energy Efficiency | Debt Investment | Co-investment, Leasing | View on Member website

NYGB and SPFC co-invested in a Lease in the amount of approximately US$12.9 million – including approximately US$8.7 million from NYGB and approximately US$4.2 million from SPFC – to finance energy improvements in a project that will replace existing infrastructure in nine schools and an administrative building in Northport District. The project includes, but is not limited to, lighting retrofits, building envelope improvements, energy management systems, water conservation units, and ventilator refurbishments. The Project is expected to save the District ~US$1.1 million per year, with a portion of those savings to be used for lease payments and the remainder going directly to the District.

Last Updated: 09/01/2018