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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Green Finance Organisation (Japan) | March 2016 | Miyazaki, Japan
Utility  | Geothermal, Solar | Equity Investment | Cornerstone stake, Fund investment | View on Member website

GFO committed to invest US$7 million in the Kyushu Geothermal Power Generation Fund (Kyushu Renewable Energy Investment Business Limited Partnership), which is managed by Astmax Trading Inc. The Fund will invest in geothermal power, hot springs power, and solar power renewable energy businesses in Kyushu. The Fund will be established with an initial commitment of US$14.1 million, comprising an investment of US$7 million by GFO, and US$7.01 million by Astmax Trading, Inc. and Astmax Co., Ltd. Astmax Trading Inc., will manage the Fund as General Partner with unlimited liability (hereinafter referred to as the “GP”). It will look to bring in an LP investor (Limited Partner) to invest a further US$1 million.

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

GFO committed to invest US$5.9 million in a wind energy power generation project planned by Japan Wind Development Co., Ltd. This project aims to introduce renewable energy in Kakegawa, Shizuoka prefecture, in collaboration with local industry, leveraging Japan Wind Development Co., Ltd.’s accumulated experience and expertise in the wind energy business.

Japan Wind Development Co., Ltd., as the principal sponsor, will contribute US$6.1 million, and GFO will invest US$5.9 million, in the Kakegawa Wind Development Co., Ltd., which is the SPC of this project. The SPC will utilize the above funds to develop a wind farm with the help of regional construction companies, focusing on EPC. In addition, the electricity generated through this project will be sold to Chubu Electric Power. Loan financing will be raised from financial institutions.

Last Updated: 05/01/2018
Green Finance Organisation (Japan) | March 2016 | Iwate, Japan
Utility  | Solar | Equity Investment | Co-investment | View on Member website

GFO committed to invest US$6 million in a solar power generation project planned by Koyo Electric Co., Ltd. Koyo Electric Co., Ltd. is contributing US$5.1 million, and JFE Electric Co., Ltd. is contributing US$1 million. US$19.8 million will be raised via syndicated loans, with regional financial institutions invited to participate. Using the above funds, JFE Electric Co., Ltd. will construct a solar power plant in collaboration with local operators. When work is complete, Koyo Electric Co., Ltd. and local companies will maintain and manage the power generation facilities.

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

GIB provided a Green Loan to help Stirling Council save GB£31 million over the next 30 years by installing energy saving streetlights. Stirling Council is installing 12,000 LED lamps and 4,000 columns (lampposts). The council borrowed GB£9.87 million over four financial years using GIB’s Green Loan.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | March 2016 | Australia
Utility  | Onshore Wind | Debt Investment | Demonstration | View on Member website

CEFC provided AU$8 million finance to an innovative Australian company which is successfully commercialising CSIRO research to help drive renewable energy in Australia and overseas. Windlab Limited is a Canberra-based global wind energy development company established in 2003 as a spin-out from the CSIRO. As a result of the CEFC’s AU$8 million commitment, Windlab will have additional access to working capital as it seeks to expand its business.

Last Updated: 05/01/2018
Rhode Island Infrastructure Bank | Open Program Since 2016 | Rhode Island, USA
| Energy Efficiency, Energy Storage, Low Emissions Transport, Solar, Water Conservation | Debt Investment | Financing through tax payments | View on Member website

C-PACE enables owners of eligible commercial and industrial buildings to finance up to 100% of energy efficiency, renewable energy, water conservation, environmental health and safety eligible improvements. Financing is provided by private capital providers at competitive rates with repayment terms consistent with the useful life of the improvements, generally up to 25 years.C-PACE is sponsored by the Bank and administered by Sustainable Real Estate Solutions. Commercial and industrial properties that are eligible for C-PACE financing include: Office buildings, Manufacturing facilities, Agricultural, Non-profit, Multifamily (5+ units). More information is available on the program website: https://ri-cpace.com/.

Last Updated: 02/05/2019
Green Investment Group | February 2016 | Lincolnshire, Scotland and Aberdeenshire, Scotland
Utility  | Offshore Wind | Equity Investment | Co-investment, Demonstration | View on Member website

The UK Green Investment Bank Offshore Wind Fund and associated parallel funds (the Fund) and funds managed by BlackRock acquired GLID Wind Farms TopCo Limited (GLID) from Centrica and EIG Global Energy Partners (EIG) in a transaction worth GB£423 million. As a result of the deal, the Fund owns a 61% stake in the 194 MW, 54 turbine Lynn and Inner Dowsing offshore wind farms, located off the coast of Lincolnshire. The BlackRock-managed funds own the remaining 39% of the projects. The transaction marks the first time that operating offshore wind farms in the UK have been 100% owned by non-utility investors.

Last Updated: 05/01/2018
CT Green Bank | February 2016 | Meriden, Connecticut, USA
C&I  | Small Hydro | Debt Investment | Co-investment, Demonstration | View on Member website

An historic installation in the United States, the first Archimedes Screw Generator was installed by New England Hydropower Company at the Hanover Pond Dam on the Quinnipiac River in Meriden in late 2016. CT Green Bank provided US$3.1 in debt for construction and financing costs (which was raised through clean renewable energy bonds, CREBs) and US$300,000 of working capital through an existing working capital facility agreement with Webster Bank.

Last Updated: 09/01/2018
CT Green Bank | Closed Program Since 2015 | Connecticut, USA
Residential  | Solar | Debt Investment, Grant Investment | Consumer education/marketing, Interest rate buy-down, Loan loss reserve, Subordination, Warehousing | View on Member website

Launched in March 2013 and running through FY15, the CT Solar Loan was a US$10 million pilot public-private partnership between CT Green Bank and Sungage Financial, with support from ARRA funds. The partnership enabled Sungage Financial to offer the CT Solar Loan, with up to US$55,000 per loan with 15-year maturity terms and 6.49% interest rates (including 0.25% ACH payment benefit). This allowed homeowners to benefit from 30% Investment Tax Credit (ITC) accessible to those who own PV panels.

The CT Solar Loan program was possible through credit enhancements (i.e.,US $300,000 loan loss reserve and US$168,000 interest rate buy-downs from repurposed American Recovery and Reinvestment Act funds) in combination with a US$5 million warehouse of funds and US$1 million of subordinated debt from the Connecticut Green Bank. It resulted in the first crowd-funded solar loan program in the country when US$1M of the loan portfolio was purchased by crowd-funding project finance firms Mosaic and Mission Markets and another US$2.6M was purchased by the Reinvestment Fund (a CDFI). And in late 2015, Sungage Financial graduated to a US$100 million pool of capital from the Digital Federal Credit Union, without further Green Bank support, to enable citizens to own solar PV systems installed on their homes.

Last Updated: 09/01/2018
NY Green Bank | December 2015 | New York, USA
C&I  | Energy Efficiency, Solar | Guarantee/insurance | View on Member website

NYGB has provided two letters of credit totaling US$5.5 million to New York-based Energy Improvement Corporation (“EIC”), a not-for-profit, local development corporation formed to promote and facilitate meaningful energy savings through energy efficiency and renewable generation improvements to existing properties throughout New York State.

EIC’s Energize NY Finance product uses the Property Assessed Clean Energy (“PACE”) loan mechanism to finance qualified energy improvements to buildings for commercial property owners and not-for-profits located in participating NYS municipalities. Under the PACE structure, commercial and not-for-profit real estate owners can effectively borrow to finance energy improvements to their properties and repay this debt through additional finance charges that are included in the property tax bills collected by the participating municipalities. The letters of credit are expected to accelerate the expansion of EIC’s municipal membership, resulting in more than 550 PACE projects. This represents ~150.5 million in total project costs.

Last Updated: 09/01/2018
Green Investment Group | December 2015 | Dumfries and Galloway, UK
Utility  | Onshore Wind | Debt Investment | Fund investment | View on Member website

GIB invested GB£100 million in a lending program throgh Temporis to support a total of GB£200 million in investment in onshore renewables. The only GIB investment made through the Temporis fund as of year-end 2016 is in the 52.9MW Blackcraig wind farm. GIB and KKR have committed GB£82.7 million of senior debt to the consented 52.9MW Blackcraig wind farm via Temporis Capital LLP – GIB is contributing GB£49.5 million of the total finance package. The 23-turbine project, located in Dumfries and Galloway, is owned by project sponsor Blue Energy.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | December 2015 | Victoria, Australia
MUSH  | Energy Efficiency, Onshore Wind, Solar | Debt Investment | Demonstration, Fund investment | View on Member website

CEFC committed a loan of up to AU$9.1 million to the University of Melbourne to accelerate initiatives that will help it improve its sustainability in its push towards carbon neutral operations. The University of Melbourne is undertaking projects involving a range of energy efficient technologies and innovative renewable technologies which are expected to reduce grid electricity use by about 8%. The CEFC is financing the University of Melbourne through a staged direct loan facility that is designed to work with the University’s rollout of its sustainability upgrade plans.This transaction was the first CEFC university clean energy financing transaction.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | November 2015 | Victoria, Australia
Utility  | Onshore Wind | Debt Investment | Co-investment | View on Member website

CEFC committed AU$67 million as part of a five-year, AU$276 million senior secured debt financing to what will be Australia’s third largest wind farm, at Ararat in Victoria. The wind farm has secured a AU$276 million debt financing package through a financing consortium comprising Sumitomo Mitsui Banking Corporation (SMBC), Canada’s Export Credit Agency, Export Development Canada (EDC) and the CEFC. This is the first large-scale hybrid contracted and merchant wind farm in Australia. The Ararat project benefits from a power purchase agreement (PPA) with the Australian Capital Territory Government, guaranteeing the purchase of approximately 40 per cent of the energy produced at the site. The PPA was awarded under the ACT’s wind auction in February 2015.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | November 2015 | Australia
C&I  | Biogas, Biomass, Waste-to-Energy | Equity Investment | Cornerstone stake, Fund investment | View on Member website

CEFC provided up to AU$100 million as a cornerstone investment in a new equity fund for bioenergy and energy from waste. The fund is set to benefit a broad cross-section of the economy including local government, mining, forestry and agriculture. The Australian Bioenergy Fund is targeting equity investments in projects from AU$2 million to AU$100 million, ranging from small-scale anaerobic digestion to mid-scale energy from waste developments. It is Australia’s first waste and bioenergy investment fund.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | November 2015 | Central Queensland, Australia
Utility  | Solar | Debt Investment | Co-investment, Cornerstone stake, Demonstration | View on Member website

CEFC committed up to AU$20 million in cornerstone debt finance for the development of the Barcaldine Solar Farm in Central Queensland. The AU$69 million 20MW AC (25MW DC) solar farm is expected to generate enough power each year to satisfy the needs of around 5,300 households. The Barcaldine Solar Farm’s location on the fringe of the National Energy Market grid will significantly reduce network losses experienced by the current transmission feed from Clermont, which is about 660 kilometres to the east. In addition, it will demonstrate how building new capacity around the grid can lead to significant saving in grid expansion and upgrade costs.

The experience developed from building a solar PV farm in a fringe-of-grid area will demonstrate the potential for solar projects to increase the reliability and quality of power at fringe-of-grid locations. This experience can also provide useful lessons for the future rollout of off-grid remote area solar PV projects, such as those serving remote communities and mining operations.

Last Updated: 05/01/2018
Green Investment Group | November 2015 | Belfast, Ireland
Utility  | Waste-to-Energy | Equity Investment | Co-investment | View on Member website

GIB committed GB£47 million of equity to a new GB£107 million Energy from Waste (EfW) plant in Belfast, Northern Ireland. The facility will be located adjacent to Bombardier’s wing facility in the city’s Harbour Estate. GIB has made its investment in the 14.85 MW plant as part of a joint venture – Full Circle Generation – with developer RiverRidge Energy Limited, Equitix and P3P Partners.

The plant, which will be fuelled by feedstock derived from household and commercial waste, is the largest EfW project to be financed in Northern Ireland. A long-term feedstock contract has been agreed with waste management company Pioneer Fuels and a Power Purchase Agreement has been signed with Bombardier.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | October 2015 | City of Melbourne, Australia
MUSH  | Energy Efficiency | Debt Investment | Fund investment | View on Member website

The City of Melbourne is undertaking a AU$30 million program of clean energy initiatives to help it reach its goal of zero net emissions by 2020, using finance from the CEFC. The CEFC’s finance is helping the City to accelerate its program of works and reduce its energy use and carbon emissions, while also encouraging commercial property owners to implement their own energy saving initiatives.

Last Updated: 05/01/2018
Green Investment Group | October 2015 | Off Suffolk coast, UK
Utility  | Offshore Wind | Equity Investment | Co-investment | View on Member website

GIB joined Siemens Financial Services, Macquarie Capital and project developer RWE Innogy as 25% joint equity partners in the GB£1.5 billion Galloper offshore wind farm. The joint venture has also secured GB£1.37 billion of debt facilities from a consortium of 12 commercial banks plus the European Investment Bank (EIB), making it the UK’s first construction-ready offshore wind project finance deal.

Last Updated: 05/01/2018
NY Green Bank | October 2015 | New York, USA
C&I, Residential  | Onshore Wind | Debt Investment | Demonstration | View on Member website

United Wind will install over 160 distributed wind energy systems for residential, agricultural and commercial customers throughout Central and Western New York State, facilitated by a US$4.0 million revolving construction loan from NY Green Bank. United Wind’s systems will foster greater access to renewable energy, while NYGB’s participation will help develop a strong track record for distributed renewable energy construction financings in the State.

Together with U.S. Bank as tax equity provider for the portfolio, NYGB is establishing a precedent financing model for distributed wind and facilitating deployment to establish the scale required to attract future private sector finance providers. The transaction structure utilized is broadly applicable to other new and innovative distributed energy business models where there has been limited scale to date.

Last Updated: 09/01/2018
Green Investment Group | September 2015 | Northeast England, UK
C&I  | CHP | Equity Investment | Co-investment | View on Member website

GIB and John Laing Group plc committed million of equity to a new GB£138 million renewable energy facility in North East England, developed by Estover Energy. GIB will make a GB£21 million investment in the project, with John Laing investing in a stake worth GB£27 million. Barclays provided the remainder of the funding as debt, 60% of which will be guaranteed by the Danish export credit agency EKF.

The biomass Combined Heat and Power (CHP) plant in Cramlington, Northumberland, will generate 213 GWh of renewable electricity annually – enough to power 52,000 homes. Much of the generated electricity will be purchased by Statkraft under a long-term Power Purchase Agreement, but the area’s thriving pharmaceutical sector, recognised as an essential element of the North East economy, will benefit from its output.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | September 2015 | New South Wales, Australia
Residential  | Energy Efficiency | Debt Investment | Demonstration | View on Member website

The CEFC loaned AU$40 million to a subsidiary of St George Community Housing to build more than 200 new energy efficient homes and upgrade a portion of its 4,300 existing properties with energy efficient technologies, directly benefiting tenants through lower electricity bills. The new properties will be built to a minimum 4-star Green star rating or a 7-star rating under the Nationwide House Energy Rating Scheme (NatHERS). The loan to SGCH was the first of its kind for the CEFC, demonstrating the potential for a community housing sustainability program.

Last Updated: 05/01/2018
NY Green Bank | September 2015 | New York, USA
Residential  | Solar | Debt Investment | Co-investment, Demonstration, Warehousing | View on Member website

A US$25.0 million credit facility provided by NY Green Bank will allow Level Solar, a New York-based solar provider that designs and installs systems at no cost to the customer, to materially grow its customer base. By providing renewable power to homeowners through long-term power purchase agreements, Level Solar is expected to reach sufficient scale to attract financing entirely through private markets.

NYGB’s US$25.0 million financial warehouse facility – which could ultimately be upsized to US$50.0 million – provides revolving credit to Level Solar to fund residential solar installations, enabling it to reach thousands of new customers. This transaction type is replicable for other participants in the solar market in New York State – specifically smaller developers with early marketplace success but limited scale to date – providing precedent for further expanding residential renewable energy in the State.

Last Updated: 09/01/2018
Clean Energy Finance Corporation | September 2015 | Australia
C&I  | Low Emissions Transport | Debt Investment | Demonstration, Securitization, Warehousing | View on Member website

In partnership with Eclipx Group, an established leader in vehicle fleet leasing, fleet management and diversified financial services across Australia and New Zealand, CEFC committed AU$50 million to support the increased uptake of low emissions vehicles by corporate, government and not-for-profit fleet buyers. The AU$50 million package will provide Eclipx corporate, government and not-for-profit fleet buyers with access to favourable loan interest rates when choosing eligible low emissions passenger and light commercial vehicles. The CEFC finance will be available through an Eclipx sponsored, publicly-rated securitisation warehouse, providing a significant demonstration of the potential of alternative funding structures to finance low emissions technologies.

Last Updated: 05/01/2018
NY Green Bank | September 2015 | New York, USA
Residential  | Energy Efficiency, Solar | Debt Investment | Co-investment, Securitization, Standardization/Data collection, Subordination, Warehousing | View on Member website

NYGB committed US$20.0 million of subordinated capital to RenewFund Finance to support the extension of up to US$100 million of unsecured EE and RE loans to as many as 12,000 homeowners in NY State. Together with a warehouse line of credit provided by Citi, the capital will finance the purchase of New York State residential energy efficiency loan receivables, as well as a small portion of renewable energy loan receivables.

Last Updated: 09/01/2018
Green Finance Organisation (Japan) | August 2015 | Kyushu, Japan
Utility  | Solar | Equity Investment | Cornerstone stake, Fund investment | View on Member website

GFO committed to invest US$3 million in a fund with Shizen Energy Co., Ltd. for a solar projects in Kyushu. This is a solar power fund covering three prefectures in the Kyushu area. It is expected to motivate local companies to generate solar power.

Last Updated: 05/01/2018