GBN Member Transaction Database

GFO committed to invest US$1 million equity in this Solar project in Aomori.

GFO committed to invest US$0.4 million equity in this Solar project in Ibaraki.

GIB and Irish electricity utility Electricity Supply Board (ESB) invested GB£35 million in combination of equity and stakeholder loans each in this biomass facility in the port of Tilbury. In addition, GB£2 million was provided by technology provider Aalborg Energie Technik and senior debt funding was provided by EKF (Eksport Kredit Fonden), Investec and Rabobank.

The Sewer Tie-In Loan Fund (STILF) is a lending program that provides low-cost loans to homeowners to connect to the local sewer system and abandon their individual septic system or cesspool.

• Financing is interest-free, with borrowers only subject to a $300 loan origination fee and a 1% annual servicing fee on the outstanding loan balance (differs in some communities)
• Residents may borrow up to $10,000 with a term of up to five years
• The cost to properly abandon the existing septic system (pumping out its content and filling with sand) is also eligible
• Funds cannot be used to connect newly-constructed homes to sewers, or to repair, replace, or upgrade existing sewer connections.
• Rhode Island Housing is responsible for underwriting and servicing loans made through the program

For residents to access funds through STILF, a municipality must first be placed on DEM’s Project Priority List and be issued a Certificate of Approval for the project. The municipality can then apply to the Bank for a lending facility, the proceeds of which can be utilized to make direct loans to homeowners.

The Water Quality Protection Charge (WQPC) program makes funds available to public drinking water suppliers to complete projects that protect sources of drinking water. Eligible projects include the purchase of watershed lands, property surveys and appraisals, water supply system management plans, and other physical improvements that directly protect the quality and safety of public drinking water supplies. Applications for funds must first be submitted to the Rhode Island Water Resources Board, which verifies project eligibility, and then a written request for funds can be submitted to the Infrastructure Bank.

The Municipal Road and Bridge Revolving Fund (MRBRF) is a financing program that provides attractive long-term financing to municipalities for transportation infrastructure projects. Eligible projects include capital improvements to roads or bridges, and associated infrastructure, such as sidewalks. The Infrastructure Bank provides approved borrowers with a below-market interest rate – currently 33% off an independently determined market rate.

The Rhode Island Department of Transportation (RIDOT) is RIIB’s regulatory partner for the MRBRF. For a project to be eligible for MRBRF financing, it must first be placed on DOT’s Project Priority List (PPL), which is produced at least once annually using transparent scoring criteria. Projects are awarded financing based on the order in which they are ranked on the PPL, readiness to proceed, and subject to the availability of funds. To date, the Infrastructure Bank has made $50.7 million in Road and Bridge loans.

The Facility Plan Loan Program (FPLP) provides financing to local governmental units for the completion of water pollution abatement project facility plans, and amendments or updates to such plans. These facility plans are a prerequisite for projects seeking to receive financing through the Clean Water State Revolving Fund (CWSRF). Borrowers can receive up to $150,000 in financing for a loan term of up to three years at a below-market fixed interest rate.

The Drinking Water State Revolving Fund (DWSRF) is a financing program that provides below-market interest rate loans to community public water systems, nonprofit noncommunity public water systems, privately organized water suppliers and local governmental units to complete water infrastructure projects.

Eligible projects those that relate to the planning, design and construction of safe drinking water supply, treatment, and transmission infrastructure. Eligible uses of financing may also include:

• land acquisition
• water supplier restructuring (consolidation of existing water suppliers)
• refinancing of existing debt
• guaranteeing or purchasing insurance for local debt obligations.

The Infrastructure Bank provides approved borrowers with a discounted interest rate – currently 25% off an independently determined market rate. For a project to be eligible for financing, it must first be placed on the Rhode Island Department of Health’s (DOH) Project Priority List (PPL), which is produced at least once annually based on transparent scoring criteria, and also receive a Certificate of Approval from DOH. Interested borrowers should contact our staff to discuss the potential project. Projects are awarded financing based on the order in which they are ranked on the PPL, readiness to proceed, and subject to the availability of funds. Since the inception of the DWSRF, RIIB has provided $450 million in loans to Rhode Island public water systems.

The Community Septic System Loan Program (CSSLP) is a lending program that provides low-cost, long-term financing to residential property owners for the repair or replacement of substandard or failing septic systems or to replace cesspools when the homeowner wishes to upgrade to a septic system.

• Financing is interest-free, with borrowers only subject to a $300 loan origination fee and a 1% annual servicing fee on the outstanding loan balance (differs in some communities)
• Residents may borrow up to $25,000 with a term of up to ten years (maximum loan amount varies by community)
• Funds may be used to pay for engineering costs in addition to construction work
• Rhode Island Housing is responsible for underwriting and servicing loans made through the program

As a prerequisite to a homeowner participating in the program, your community must have an On-Site Wastewater Management Plan approved by the Rhode Island Department of Environmental Management (DEM). In addition, the municipality must be on DEM’s Project Priority List and be issued a Certificate of Approval. The municipality may then apply to the Bank for a lending facility, the proceeds of which can utilized to make direct loans to homeowners.

The Clean Water State Revolving Fund (CWSRF) is Rhode Island’s largest and most important water pollution abatement financing program. Through the program, municipalities and quasi-public agencies are able to access below-market interest rate loans for the completion of projects that mitigate water pollution.

Eligible projects include:

• construction and upgrade of wastewater collection systems and treatment facilities
• stormwater pollution prevention and treatment facilities
• nonpoint source pollution (e.g. stormwater) best management practices
• other water pollution abatement and water quality protection activities

The Infrastructure Bank provides approved borrowers with a discounted interest rate – currently 33% off the borrower’s market rate. The Rhode Island Department of Environmental Management (DEM) is the Infrastructure Bank’s regulatory partner for the CWSRF. For a project to be eligible for financing, it must first be placed on DEM’s Project Priority List (PPL), which is produced at least once annually based on transparent scoring criteria, and receive a Certificate of Approval from DEM. Projects are awarded financing based on their ranking on the PPL, readiness to proceed, and availability of funds. Since the inception of the CWSRF, the Infrastructure Bank has provided $1.3 billion in loans to Rhode Island communities, Narragansett Bay Commission, Providence Water Supply Board and Rhode Island Airport Corporation.

The Brownfields Revolving Loan Fund makes financing available to public, private and non-profit borrowers for the remediation of properties contaminated with hazardous substances. Conducting environmental cleanups enables these properties to be redeveloped and returned to productive use. Financing terms for loans made through the Brownfields Fund, including interest rates, fees and loan term, are made on a case-by-case basis.

The Department of Environmental Management (DEM) is the Infrastructure Bank’s regulatory partner for the Brownfields Fund. For a project to be eligible for financing through the Brownfields Fund, it must first be placed on DEM’s Project Priority List (PPL).

Remediated brownfields are perfect locations for siting clean energy infrastructure! Click here for presentations on this topic made at the 2018 Rhode Island Infrastructure Summit.

The Efficient Buildings Fund (EBF) provides attractive, long-term financing to municipalities and quasi-public agencies for the completion of energy efficiency and renewable energy projects. EBF seeks to finance energy retrofits in public buildings that will result in electric and heating savings greater than 20% across all properties receiving improvements. To date, the Infrastructure Bank has made $28 million in loans through the Efficient Buildings Fund.  Eligible properties include municipal buildings, schools, publicly-owned utilities, such as wastewater or drinking water facilities, and quasi-state entities. Financing can be repaid over terms of up to 15 years and can be structured to provide annual cash-flow savings to the borrower. The Rhode Island Office of Energy Resources (OER) is the Bank’s regulatory partner for the program. For a project to be eligible for financing, it must first be placed on OER’s Project Priority List (PPL). OER ranks and scores project applications based on transparent scoring criteria, which results in the production of a PPL at least once annually. Interested borrowers should contact our staff to discuss the potential project. Projects are awarded financing based on their ranking on the PPL, readiness to proceed and availability of funds.

GIB invested total of GB£29.8 million via loans and equity stake in this biomass plant in Hertfordshire, UK.

BNE Energy’s Colebrook South facility harnesses the power of the wind to generate electricity at the state’s first commercial wind farm. The project has a capacity of five megawatts and is now powering approximately 1,500 – 2,000 homes. The project was financed by a US$14.9 million construction loan from Webster Bank, a US$2 million loan from the Connecticut Green Bank and US$5.6 million from a California bank tied to federal tax credits.

CEFC is providing up to AU$20 million in senior debt finance to ET Solar Australia for a new solar Power Purchase Agreement (PPA) programme aimed at commercial premises with an emphasis on high energy users, including shopping centres, mining and manufacturing businesses. ET Solar will provide up to AU$13.3 million in equity.

CEFC committed to provide a cornerstone investment of up to AU$75 million in the inaugural issue of National Australia Bank’s Climate Bond issuance. This is an Australian first for an Australian dollar denominated and Australian asset linked bond of its kind. The NAB Climate Bonds are senior unsecured NAB corporate bonds for financing a portfolio of renewable energy assets and facilities in Victoria, South Australia, Tasmania, Western Australia, NSW and the ACT. The CEFC’s investment will finance projects that meet the CEFC’s investment eligibility criteria. This NAB Climate Bond will be certified in compliance with international Climate Bonds Standards, a global benchmark which assists investors identify investments which contribute to climate change solutions.

GFO committed to invest US$3 million equity in this woody Biomass project in Miyazaki.

GIB invested GB£33.4 million via loan and equity stake purchase in this waste treatment plant in North Yorkshire.

GIB provided GB£16.9 million of mezzanine loans and is also making a GB£13.2 million equity investment via its Foresight-managed fund, UKWREI, in the Widnes CHP plant. The remainder of the GB£42.1 million mezzanine finance is being provided by GCP Infrastructure Investors. Investec Bank plc and Eksport Kredit Fonden (EKF) have also jointly committed GB£42.5 million of senior loans to the project, while Stobart (GB£9.8 million) and BWSC (GB£2.6 million) will both take equity stakes.

The NHS is one of the UK’s most energy intensive organisations, spending more than GB£750 million on energy costs each year. GIB and DLL are working with NHS Trusts to improve energy efficiency and save money. GIB and DLL committed GB£50 million of funding for NHS energy efficiency measures, with both parties investing GB£25 million.

The first project funded by the alliance will be at Queen’s Medical Centre, part of Nottingham University Hospitals NHS Trust, where GB£7.5 million is being invested to finance the installation of a suite of energy production and reduction measures. The project has been developed under the Carbon and Energy Fund (CEF) framework and it will be delivered by the energy services company, Interserve. As with previous NHS energy efficiency projects, the Trusts and Health Boards that will benefit from the new funding won’t need to find the capital upfront. The money saved by reducing their energy bills more than covers the cost of the repayments.

John Laing and GIB invested GB£26 million via equity investment in the Speyside project. The remainder of the funding, in the form of debt came from a bond issued by the project company and listed on the London Stock Exchange. These bonds are guaranteed by Infrastructure UK, part of HM Treasury. GIB and John Laing’s investment were conditional on the successful conclusion of the bond process.

GIB invested GB£64 million into a new energy from waste plant in Derby. The project is being developed by Derby City and Derbyshire County Councils, alongside sponsors Interserve plc and Shanks Group plc. GIB will provide long-term loan financing alongside Germany’s Bayerische Landesbank and Japan’s Sumitomo Mitsui Banking Corporation, with each bank providing a third of the loan funding, totalling up to GB£195 million.

The new facility in south Derby will process waste from households in Derby and Derbyshire. It will see an increase in the amount of waste that is recycled with the remaining treatable waste converted into energy using an innovative gasification technology. The project will generate enough electricity to power 14,000 homes. The project also involves running all Derby and Derbyshire’s household waste recycling centres. Following a 32 month construction period, the project will operate for 25 years.

The project will recycle over 35,000 tonnes of materials per year and divert over 170kt/year of waste from landfill.

The project will see 250 people recruited to work on construction of the new facility and 34 new permanent roles to operate it. The gasification plant will be supplied by Energos, a UK-based company supplying advanced gasification plants around Europe.

The project will be the first long term, project financed, municipal gasification plant in the UK. This is important in demonstrating the investment potential of this type of technology.

CEFC committed to provide up to AU$20 million senior debt finance to enable Australian solar PV company, Tindo Solar, to locally manufacture, install and own rooftop solar arrays and sell the power to the building occupants under a new power purchase agreement (PPA) programme. The financing is being provided through the Solaire Income Fund.

The Solaire Income Fund, being established by Lighthouse Infrastructure and the Impact Investment Group, will provide additional finance. Lighthouse Infrastructure and the Impact Investment Group are establishing the AU$200 million Solaire Income Fund to provide long-term stable returns to investors through investment in solar PPAs and related assets. The Fund will invite investors to provide equity finance in addition to the CEFC’s finance to support Tindo’s rollout of its solar PPA program.

CEFC provided AU$15 million debt facility to support whole of abattoir/rendering plant upgrade located in regional New South Wales. It is also co-financed by Bindarees Beef’s own bank. It includes anaerobic digestion, electricity generation and heat capture for use within the meat manufacturing sector.

CEFC worked with the Direct Infrastructure division of Colonial First State Global Asset Management (CFSGAM) to establish Australia’s first unlisted clean energy direct infrastructure investment platform for institutional investors, the CFS Australian Clean Energy Infrastructure Fund. The CEFC will provide up to AU$80 million of debt and equity as the initial cornerstone investor in the wholesale infrastructure investment platform that will invest in renewable energy, energy efficiency or low emissions technology. To grow the opportunity, CFSGAM will seek to raise a further AU$300-$500 million.