GBN Member Transaction Database

In January 2021, NYGB entered into an agreement with CGE to provide an up to $17.4 million construction-to term loan and $1.0 million letter of credit to CGE to secure long-term rights to landfill gas at the Chautauqua Landfill in Jamestown, NY and construct improvements at the Landfill that will upgrade the gas for transportation and sale as renewable natural gas. CGE was approved by the New York State Public Service Commission to own and operate a seventy-mile natural gas pipeline, and will construct, own, and operate a three-mile pipeline connecting the project to the Little Valley Pipeline. Through the pipelines, the Project will connect to the interstate pipeline grid for delivery and sale of the RNG.

In August 2022, NYGB increased its existing construction-to-term facility with CGE by $2.6 million ($21 million aggregate) to support a landfill gas (“LFG”) to renewable natural gas (“RNG”) project in Chautauqua County.

NYGB’s $25.0 million commitment in the Term Loan is expected to support a total of 95 distributed solar projects across NYS, Massachusetts, Illinois, Maryland and Georgia, including 30 distributed solar projects – totaling 144 MW – in NYS, which will deliver considerable benefits to New Yorkers. In addition, three of the projects in the Nexamp portfolio currently under construction will support clean energy generation in NYS parks.

Nexamp is a solar, battery storage, and clean energy company founded in 2007 and headquartered in Boston, Massachusetts. Nexamp develops, constructs, owns, and operates clean energy projects reporting over 300 MW of operating solar generating capacity across 100+ projects and approximately 500 MW of solar generating capacity under construction that includes 100+ projects.

In January 2021, NY Green Bank entered into an agreement with Rudarpa North Country, LLC, an indirect subsidiary wholly owned by Rudarpa, Inc, to provide a $29.5 million construction-to-term loan for the first Landfill Gas to Renewable Natural Gas project in Rudarpa’s tobe-built portfolio of LFG-to-RNG projects. RNC will be Rudarpa’s first project and is located in Bethlehem, NH.

Rudarpa is expected to deploy at least $29.5 million for LFG-to-RNG projects in New York State.

In September 2022, NYGB increased its existing construction-to-term facility with RUDARPA, Inc. by $3.5 million ($33 million aggregate) to support the first LFG-to-RNG project in Rudarpa’s to-be-built portfolio of projects.

NYGB’s mission includes filling clean energy financing gaps for economically viable projects and business models where private capital is unavailable. The COVID-19 crisis has exacerbated financing market gaps; less capital is expected to be available for many clean energy projects and business models, resulting in even greater dependence by market participants on NYGB financing than before the COVID-19 crisis.

NY Green Bank, a division of the New York State Energy Research and Development Authority, earmarked $50 million in capital, applied to the SBA, and was approved as a PPP lender to provide PPP loans to small businesses and other eligible borrowers in the clean energy industry of New York State.

NY Green Bank has committed $3.8 million to finance the deployment of solar photovoltaic (projects in the development pipeline of SunX, LLC, which is wholly owned by Distributed Sun LLC. This is an expansion of NYGB’s investment in solar development capital as part of its ongoing efforts to participate in sustainable infrastructure investments in support of New York State’s Clean Energy Fund objectives. The $3.8 million financing facility is expected to support the deployment of up to 39.8 megawatts of solar PV in NYS, providing residents and businesses with a greater variety of energy choices and, ultimately, lower-cost clean energy options.

NY Green Bank committed to an up to $35.0 MM construction and interconnection facility to finance the development of up to thirteen community distributed generation solar projects in New York State. These transactions are expected to provide NYS residents and businesses a greater variety of energy choices and, ultimately, lower-cost clean energy opportunities.

With its commitment, NYGB expects to support the deployment of up to 78.0 MW of CDG projects in NYS.

NY Green Bank has committed $3.8 million to finance the deployment of solar photovoltaic (projects in the development pipeline of SunX, LLC, which is wholly owned by Distributed Sun LLC. This is an expansion of NYGB’s investment in solar development capital as part of its ongoing efforts to participate in sustainable infrastructure investments in support of New York State’s Clean Energy Fund objectives. The $3.8 million financing facility is expected to support the deployment of up to 39.8 megawatts of solar PV in NYS, providing residents and businesses with a greater variety of energy choices and, ultimately, lower-cost clean energy options.

NY Green provided a 2-month senior secured $19.9 million bridge loan facility to New York Community Clean Energy HoldCo, LLC, a subsidiary of CertainSolar Inc., d/b/a NineDot Energy. Bridge Loan proceeds will finance development costs for community distributed generation Fuel Cell projects. The projects supported by this transaction are expected to provide New York State residents and businesses with lower-cost clean energy opportunities.

NY Green Bank provided a 24-month senior secured $3 million bridge loan facility to ELP BV 1, LLC, owning projects developed by East Light Partners PBC. Bridge Loan proceeds will finance late stage development costs for community distributed generation and Large Scale solar photo-voltaic projects. The projects supported by this transaction are expected to provide New York State residents and businesses with lower-cost clean energy opportunities.

BQ Energy is a renewable energy project developer specializing in landfill and brownfield site redevelopment. As the sixth installation of a larger portfolio of projects to be financed in collaboration with NY Green Bank, BQ received a $2.27 million construction-to-term loan to complete an community distributed generation 550 kW solar array paired with a 522kW/2088kWh battery to be located on a brownfield site in the Town of Mt. Kisco, NY. This transaction provides Mt. Kisco residents and businesses a greater variety of energy choices and ultimately, lower cost clean energy opportunities.

GIG portfolio company, Blue Leaf Energy Asia Pte Ltd, has announced a partnership with SunAsia to co-develop 1.25 GW of solar projects in Luzon, Philippines

GIG portfolio company, Blue Leaf Energy Asia Pte Ltd, has announced a joint venture with Univergy to co-develop an initial 200 MW portfolio of large-scale solar energy projects in Japan.

EDF Renewables, a leading French renewable energy player, has signed a share purchase agreement which, subject to the relevant anti-trust authorities’ final regulatory approvals, will see them acquire a 45% equity stake in GLHD alongside Cero Generation, one of Europe’s largest solar energy developers. Upon completion of the transaction, Cero and EDF Renewables will each own 45% of GLHD, with the remaining 10% owned by GLHD’s founders. Together, the partners will support the delivery of GLHD’s 2.4 GW solar development portfolio.

Cero Generation is a Green Investment Group portfolio company, operating on a stand-alone basis.

Located near Cheongsapo in Busan, South Korea, the 40 MW development is expected to commence commercial operations in 2024.

GIG’s global offshore wind development portfolio now stands at 12.7 GW, including 3 GW of planned capacity in Korea. To reduce the country’s heavy reliance on nuclear and coal imports, the Korean government’s RE3020 plan promotes a significant increase in green energy, with a particular focus on offshore wind and associated job creation. The projects in GIG’s portfolio will play a significant role in the delivery of country’s ambitious target to deliver 12 GW of offshore wind capacity by 2030.

Macquarie’s Green Investment Group (GIG), Wismar Pellets and PEARL Infrastructure Capital (PEARL) have reached financial close on the Bioenergie Wismar Combined Heat and Power Plant (Bioenergie Wismar) in northern Germany. Located at the Port of Wismar, it is GIG’s first bioenergy project in continental Europe.

Co-developed by GIG and Wismar Pellets, the combined heat and power (CHP) biomass plant will generate up to 18 MWe of electricity and 27 MWth of renewable heat. The project’s fuel supply is anchored by Wismar Pellets and ILIM Nordic Timbers, who will provide bark material as a by-product of their timber operations. Wismar Pellets and ILIM will also contract for the project’s steam output and utilise the heat at their neighbouring facilities for timber drying. The project successfully secured an EEG Feed-in-Tariff for its electricity output in November 2020.

A 50/50 joint venture between Macquarie’s Green Investment Group (GIG) and Total has been successful in securing rights to a seabed lease in the Eastern Regions zone in the Crown Estate’s Offshore Wind Leasing Round 4.
The project, which will be located off the UK’s East Anglian coast, could deliver up to 1.5 gigawatts (GW) of renewable electricity and represents a significant early stage investment in the UK offshore wind sector for both companies.

NY Green Bank provided $26.9 million in back-leveraged credit facilities to finance the acquisition of 14 community distributed generation solar projects sponsored by Generate Capital, Inc. in New York State. These transactions are expected to provide NYS residents and businesses a greater variety of energy choices and, ultimately, lower-cost clean energy opportunities

Macquarie’s Green Investment Group (GIG) announced its acquisition of a 22 MW onshore wind farm in Scieki from the EnerCap Power Funds. The Project is located approximately 1 km north west of the village of Scieki and approximately 75 km south west of Warsaw in central Poland.

The project consists of 11 Vestas V90 2 MW wind turbine generators and has been operating for over eight years.

GIG portfolio company Blueleaf Energy has completed the construction and reached energisation of its first corporate PPA rooftop solar power plant in Penang Malaysia, providing renewable energy to the automotive electronics plant of Robert Bosch (M) Sdn Bhd (Bosch).

The power generated by the 3 MW plant is provided on a self-consumption basis with the opportunity for Bosch to sell excess generated energy back to the grid under Malaysia’s NEM (Net Energy Metering) scheme.

Fulfilling its commitment to clean renewable energy, Bosch dedicated a rooftop area of 24,500 m2 for installation of around 7,500 solar panels. Blueleaf Energy is contracted to supply power and will own and manage the photovoltaic asset. Greencells Energy Asia Pacific also participated in the project as the Engineering, Planning and Construction (EPC) contractor.

Macquarie’s Green Investment Group (GIG) announced its acquisition of a 25.3 MW onshore wind farm in Jozwin from Vortex Energy Poland and Max Bögl International SE. The project is located in Western Poland, approximately 3km north of the village of Jozwin and 200km west of Warsaw.

Covanta Holding Corporation (“Covanta”), Green Investment Group Limited and Biffa plc announced financial close and the commencement of construction on the Protos Energy Recovery Facility in Cheshire, England. Covanta and GIG will each own 37.5 percent of the state-of-the-art Energy-from-Waste facility, with Biffa, the primary waste supplier for the facility, owning the remaining 25 percent of the project.

Savion, a Green Investment Group portfolio company, announced that a solar project it is developing in Virginia, USA, has signed a long-term power purchase agreement to supply 75 MW of renewable solar power to Dominion Energy Virginia.
The PPA is subject to approval from the Virginia State Corporation Commission.

The project is expected to begin construction in mid-2021, with commercial operation targeted to commence by the end of 2022. The approximately $US133 million solar facility brings the number of Savion-developed projects to four in Virginia under contract, operating, or under construction resulting in 190 MW of solar power and a total investment in excess of $US285 million.

Green Investment Group (GIG) portfolio company, Savion, has announced plans to partner with Alliant Energy on two solar development projects in Wisconsin, USA. Under the arrangement, Savion will continue development activities, and Alliant Energy will acquire the projects when regulatory approvals and other contractual commitments are complete.

Together, the 150 MW Wood County Solar Project, and the 50 MW Richland County Solar Project will generate enough green energy to power approximately 55,000 Wisconsin homes.

Macquarie’s Green Investment Group (GIG) and global energy company Total have signed a series of agreements to co-develop an initial 2.3 GW portfolio of floating offshore wind projects in Korea. The portfolio consists of five projects – three in Ulsan totaling 1.5 GW and two in South Jeolla Province totaling 800 MW.

Subject to the completion of regulatory approvals and satisfaction of other conditions precedent, the partners aim to start co-development activities in the autumn of 2020. GIG has already commenced a comprehensive wind data collection campaign to support the portfolio, and the first 500 MW phase of the Ulsan project is targeting commencement of construction by the end of 2023.

The consortium comprising RES, the world’s largest independent renewable energy company and Macquarie’s Green Investment Group (GIG) announced today the completion of the development phase of the second stage of the Murra Warra Wind Farm near Horsham in Western Victoria, and the sale of its interests to global private markets investment manager Partners Group (acting on behalf of its clients).

Murra Warra II Wind Farm comprises 38 wind turbines with a capacity of 209 MW. The sale of Murra Warra II builds on the consortium’s success in the development, financing and construction of the adjacent 61 turbine first stage of Murra Warra Wind Farm, which was also acquired by Partners Group (in 2018).