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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Clean Energy Finance Corporation | October 2019 | Australia
C&I, Transport, Utility  | Energy Efficiency, Energy Storage, Low Emissions Transport, Smart Grid Technology, Solar | Equity Investment | Cornerstone stake, Fund investment | View on Member website

The CEFC iinvested A$100 million into Macquarie Infrastructure and Real Assets (MIRA)’s Australian infrastructure platform to further support decarbonisation in the infrastructure sector. MIRA is pursuing emissions reductions and improved energy efficiency across its Australian infrastructure platform. MIRA, one of the world’s leading alternate asset managers, will target lower carbon emissions at assets in sectors including airports, electricity, port, rail and water. The emissions reduction standards will focus on identifying global best practice to drive positive change. Global best practice measures include Science Based Targets (SBT), which work to achieve the Paris Agreement commitment to limit global warming to well below two degrees Celsius from pre-industrial levels.

Last Updated: 10/11/2019
NY Green Bank | September 2019 | New York, USA
C&I  | Energy Efficiency | Equity Investment | Co-investment, Demonstration | View on Member website

NY Green Bank committed $5.0 million to finance the construction and operation of an energy efficient, LEED Certified lodging property located in the Village of Saranac Lake (the “Project”) and developed by Saranac Lake Resort Owner, LLC. The Project’s energy efficiency measures are expected to reduce greenhouse gas emissions relative to design standards. This is NYGB’s first investment in an energy efficient, new building asset as part of its ongoing efforts to participate in sustainable infrastructure investments in support of Clean Energy Fund objectives. The Project is expected to create approximately 71 full time jobs in New
York State, supporting economic development in the North Country.

Last Updated: 10/11/2019
Green Investment Group | October 2019 |
Utility  | Offshore Wind, Onshore Wind, Solar | Capacity development: Technical assistance, Consumer education/marketing | View on Member website

GIG announced a ground-breaking initiative to increase the availability of standardised, climate-related data. GIG’s pioneering Carbon Score methodology will be combined with Bloomberg NEF’s market-leading renewable energy project data to build a tool to assess the carbon impact of over 40,000 wind and solar assets globally.

As developers, asset owners and managers, project finance providers and energy consumers increasingly seek to understand the environmental benefits of projects better, the demand for robust environmental data continues to grow. However, as recognised in the recent Climate Finance Leadership Initiative (CFLI) Financing the Low-Carbon Future report, the integration of climate-related risks and opportunities into investment decisions continues to be challenged by a lack of information.

GIG’s methodology helps to address some of this by generating a simple and intuitive Carbon Score for renewables assets, enabling BNEF clients to quickly, clearly and consistently assess, and compare, the positive carbon impact of individual assets, fund portfolios or PPAs. Through the partnership, GIG’s Carbon Score will be applied to over 60% of the world’s consented wind and solar projects.

Last Updated: 10/11/2019
Clean Energy Finance Corporation | September 2019 | Australia
Utility  | Energy Storage | Debt Investment | Demonstration | View on Member website

Large-scale battery storage projects may be eligible for finance through the CEFC’s Dispatchable Power Program. Up to A$125 million is available through the first phase of the program, which is designed to complement grant funding offers for emerging technologies. Initially, successful applicants under the New South Wales Government’s Emerging Energy Program (EEP), are eligible to apply for funding under the CEFC’s Dispatchable Power Program. In subsequent phases of its Program, the CEFC may look to support emerging technologies alongside other State Government grant programs, as they arise. The CEFC’s finance is available at a fixed-interest rate for projects that meet the CEFC’s investment criteria, and can be used to support contracted, partially-contracted and uncontracted projects which will rely on merchant revenues such as from the provision of Frequency Control Ancillary Services (FCAS)

The battery projects will be expected to meet the CEFC’s investment criteria to be eligible for finance and will be assessed on a case-by-case basis.The large-scale battery storage projects supported through this program are expected to unlock opportunities for higher penetration of renewable energy in the New South Wales grid. While the CEFC’s Dispatchable Power Program is targeting utility scale battery opportunities, the CEFC may look to finance other projects eligible for EEP grants, if appropriate. These may include technologies such as biogas, virtual power plants and pumped hydro.

Last Updated: 10/11/2019
Clean Energy Finance Corporation | September 2019 | Australia
MUSH  | Energy Efficiency, Smart Grid Technology | Equity Investment | Cornerstone stake, Fund investment | View on Member website

CEFC finance will help Barwon Institutional Healthcare Property Fund improve the energy efficiency and comfort of a range of healthcare and medical facilities around Australia. The CEFC announced taking an A$80 million equity stake in the Barwon Institutional Healthcare Property Fund which has 14 healthcare property assets across Australia and is planning to acquire more.

The investment will improve the energy performance of existing assets to achieve carbon emissions reductions of about 40 per cent when compared with the Council of Australian Governments (COAG) Baseline Energy Consumption in commercial buildings. Measures include rooftop solar, energy efficient Heating Ventilation and Air Conditioning (HVAC) systems, lighting upgrades and building monitoring systems. The CEFC’s equity is part of a broader A$375 million capital raising which involves several large Australian superannuation funds.

Last Updated: 10/11/2019
Clean Energy Finance Corporation | September 2019 | Australia
Agriculture  | Biomass, Energy Efficiency, Energy Storage, Onshore Wind, Small Hydro, Solar, Water Conservation | Capacity development: Technical assistance, Consumer education/marketing | View on Member website

In an Australian first, the CEFC and the National Farmers Federation (NFF) collaborated to back ready-made clean energy solutions for Australian farmers, with the twin goals of increasing on-farm efficiency and cutting greenhouse gas emissions. In a practical new guide for Australia’s 85,000 farming enterprises, the CEFC and the NFF have identified 51 opportunities where farmers can reduce their energy bills by improving energy efficiency and switching to renewables. The investment commitments start at under A$10,000, making them cost effective at a time of farm stress and drought.

The potential energy efficiency technologies range from variable speed drives and smart controls to best-in-class tractors and refrigeration equipment. Renewable energy solutions include increasingly cost-effective solar PV as well as on-farm microgrids, which are particularly relevant in remote areas or where network connections are expensive.

Last Updated: 10/11/2019
Green Investment Group | August 2019 | Off the Suffulk coast, UK
Utility  | Offshore Wind | Equity Investment | Cornerstone stake | View on Member website

Macquarie’s Green Investment Group (GIG) entered into an agreement, subject to the satisfaction of customary completion conditions, to acquire a 40% stake in the East Anglia ONE (EA1) offshore wind farm from ScottishPower Renewables (UK) Limited, a subsidiary company of the Iberdrola group. GIG secured debt financing from the market to assist in funding its investment.

The acquisition reinforces GIG’s commitment to accelerating the UK’s energy transition and brings the total capacity of UK offshore wind supported by GIG to over 5.7 GW, across 14 projects – equivalent to almost 50% of the total UK offshore wind capacity in operations or construction.

EA1 is a 714 MW development located 43 KM off the UK’s Suffolk coast. The project will comprise 102 Siemens Gamesa 7 MW wind turbines, which when fully operational, will produce enough green electricity to power the equivalent of over 600,000 homes annually.

Last Updated: 09/11/2019
Green Investment Group | August 2019 | Warmiab, Masurian Voivodeship, Poland
Utility  | Onshore Wind | Equity Investment | Cornerstone stake | View on Member website

Macquarie’s Green Investment Group (GIG) acquired the 42 MW Kisielice onshore wind farm from Impax New Energy Holdings Cooperatief W.A, an entity owned by NEF2, a renewable energy fund managed by Impax Asset Management. Located in Warmiab, Masurian Voivodeship, it is GIG’s first investment in Poland. The project has been fully operational since 2014 and consists of 21 Enercon E82 turbines generating enough renewable electricity to power 45,590 homes per year.

In October 2019, GIG announced that for the next ten years, Signify, the world leader in lighting, will purchase renewable energy for its operations in Poland from the Kisielice onshore wind farm. Signify’s Polish facilities are responsible for more than 25 per cent of its global electricity footprint. The Virtual PPA marks a major milestone in Signify’s commitment to become carbon neutral in 2020: http://greeninvestmentgroup.com/news-and-insights/2019/signify-signs-vppa-with-green-investment-group/

Last Updated: 09/11/2019
Green Investment Group | August 2019 | South Africa
Utility  | Onshore Wind, Small Hydro | Debt Investment | Capacity development: Technical assistance, Demonstration | View on Member website

Established in 2000, H1 Holdings is a majority black-owned and managed developer of renewable energy projects. UKCI will provide critical financing for the development of the Kruisvallei Hydro project in the Free State province (4 MW), Kangnas Wind Farm in the Northern Cape province (140 MW) and the Perdekraal East Wind Farm in the Western Cape province (110 MW). The financing will be provided through an innovative funding mechanism developed by UKCI in close consultation with H1 Holdings and designed to support Black Economic Empowerment (BEE) entities.

The projects are expected to be completed by the end of 2020 and provide enough clean electricity to power nearly 200,000 homes each year. During their lifetime, they will help avoid approximately 844,000 tonnes of greenhouse gas emissions per annum.

In addition to promoting cleaner growth, the projects will stimulate rural development by employing and training at least 40 per cent of construction, operations and maintenance staff from local communities.

Last Updated: 09/11/2019
Clean Energy Finance Corporation | July 2019 | Perth, Australia
MUSH  | Energy Efficiency, Solar | Debt Investment | Co-investment, Demonstration | View on Member website

The next generation of Curtin University students will reap the benefits of clean energy, via a major new industry-connected innovation hub. With more than 56,000 students, Curtin University is WA’s largest university with the main campus based in Perth, a major regional campus in Kalgoorlie and four international campuses.

The mixed-use Exchange development in Perth will deliver improvements in energy efficiency and lower carbon emissions while providing world-class educational facilities. It will include about 1,000 new student accommodation beds, a 60-room boutique hotel, 38 apartments, 3,000 square metres of commercial space and 15 specialty retail shops. The CEFC has committed up to $120 million in debt finance towards the $300 million Exchange project. The first stage of the development is expected to open in January 2022.

The Exchange is expected to save more than 2,455 tonnes of carbon emissions annually – the equivalent of taking about 520 cars off the road each year.  To achieve that target, integrated sustainability initiatives will include a high-performance building façade, energy efficient heating, ventilation and air conditioning, energy efficient internal lighting systems and a more than 300kw of solar PV across the project.

Last Updated: 07/24/2019
Tata Cleantech Capital Limited | July 2019 | Rajasthan, India
Utility  | Solar | Debt Investment | Refinancing |

TCCL financed 20 MW of solar power project in the state of Rajasthan. The project has been operational since February 2013. The power produced shall be purchased by a government owned company.

Last Updated: 11/21/2019
Tata Cleantech Capital Limited | July 2019 | Karnataka, India
C&I  | Solar | Debt Investment | Co-investment |

TCCL financed the development of 39.60 MW wind project being set up on group-captive basis in the state of Karnataka. The power produced shall be consumed by private sector companies and would help in the reduction of their carbon footprints.

Last Updated: 11/21/2019
Tata Cleantech Capital Limited | July 2019 | India
C&I  | Solar | Debt Investment | Demonstration |

TCCL provided long term debt for the development of 2.7 MW solar project at the premises of Kochi Metro Rail. The power produced shall be used for captive consumption. The project is being developed by a Canada based developer.

Last Updated: 11/21/2019
Clean Energy Finance Corporation | July 2019 | Canberra, Australia
Residential  | Energy Efficiency, Solar | Debt Investment | Demonstration | View on Member website

A disused Canberra office park is being transformed into a state-of-the-art energy efficient village. The LDK Greenway Seniors’ Living Village at Tuggeranong will be home to up to 450 people, creating a new model for sustainability for Australia’s rapidly growing retirement living and aged care sectors. The CEFC has committed $60 million in debt finance towards the project.

The Village will be owned and operated by LDK Healthcare, a joint venture between Cromwell Property Group and senior living operator Aspire Group. The Village will include more than 380 apartments and a range of self-contained community amenities, including a corner store and café, 130-seat auditorium, meeting and learning spaces, community and private dining areas, gardens, a chapel and car parking.

By repurposing existing building stock, the Village avoids the carbon and financial cost of demolition and new construction. The introduction of energy efficiency and renewable energy technologies will result in ongoing emissions reduction and energy savings. The sustainability standards are expected to more than halve the Village’s greenhouse gas emissions when compared to current building standards.

Last Updated: 07/17/2019
CT Green Bank | July 2019 | Canton, Connecticut, USA
MUSH, Utility  | Small Hydro | Debt Investment | Guarantee/insurance, Subordination | View on Member website

The construction of a 1 megawatt (MW) hydroelectric facility at the Upper Collinsville Dam on the Farmington River in Canton resumed construction after the closing of the construction loans.  The project is the result of significant expertise and innovation from many stakeholders, including the Town of Canton, The Provident Bank, the Department of Energy and Environmental Protection (DEEP), and the Connecticut Green Bank. Once operational, the facility is projected to generate an average 4.3 million kWh of clean energy and save 3.2 metric tons of CO2 emissions annually, while preserving a historic powerhouse, enhancing public safety features, and revitalizing aquatic habitat by allowing fish to swim upstream for spawning for the first time since 1867.

The dam is owned by the State of Connecticut and the water rights will be leased to Canton Hydro over a 30-year period. Utilizing the state’s Virtual Net Metering program, State of Connecticut owned buildings through DEEP will benefit from the lower cost renewable energy.

The final requirement for the project was securing financing, which was accomplished through a creative partnership structure. The total project cost is approximately $6.6 million with the Green Bank providing a $1.2 million subordinate loan and $500,000 limited guaranty to leverage an approximately $4.7 million senior loan from The Provident Bank through the U.S. Small Business Administration (SBA) 504 Loan program. Additional equity is being provided by Canton Hydro.

Last Updated: 07/17/2019
Tata Cleantech Capital Limited | June 2019 | Andhra Pradesh, India
C&I  | Solar | Debt Investment | Demonstration |

TCCL financed 1 MW under-construction solar rooftop power project being developed in the state of Andhra Pradesh. The power generated from the project will be consumed by the private sector company on the roof of which the plant is set-up.

Last Updated: 11/21/2019
Tata Cleantech Capital Limited | June 2019 | Karnataka, India
Utility  | Onshore Wind | Debt Investment | Refinancing |

TCCL refinanced an operational 40 MW wind power project in the state of Karnataka. The project was awarded under the tender of the government for long term purchase of power.

Last Updated: 11/21/2019
Green Investment Group | June 2019 | Jönköping, Sweden
Utility  | Onshore Wind | Equity Investment | Cornerstone stake | View on Member website

Macquarie’s Green Investment Group Limited (GIG) announced the acquisition of the 43 MW Hornamossen onshore wind farm located in Sweden’s Jönköping municipality. GIG will acquire 100 per cent of the project from Nordic wind power developer OX2, who have been developing the project since 2006. Consisting of 10 Siemens Gamesa 4.3 MW direct drive turbines, Hornamossen is expected to produce enough renewable electricity to displace an estimated 121 kt CO2e over its lifetime – the equivalent to removing approximately 1000 cars from the road every year of its operational life.

GIG structured and secured a long-term power purchase agreement (PPA) for the project with Swiss energy utility Axpo Nordic, part of the Swiss energy group Axpo. GIG has now sourced and structured PPAs for almost 1 GW of onshore wind capacity in Sweden, equivalent to over 10% of Sweden’s total onshore wind installed capacity.

This is GIG’s first partnership with OX2, an experienced developer in the Nordic region, who will continue to act as the project’s asset manager throughout construction and operations under a bespoke engineering, procurement and construction (EPC) contract. Construction is expected to commence in early July 2019 with commercial operations anticipated in Q4 2020.

Last Updated: 06/12/2019
Clean Energy Finance Corporation | June 2019 | Victoria, Australia
Utility  | Solar | Equity Investment | Co-investment, Demonstration | View on Member website

The 200MW (AC) Kiamal Solar Farm, near Ouyen in north-west Victoria, is the first Australian project for major French renewable energy independent power producer Total Eren. Total Eren is the majority equity investor in Kiamal Solar Farm, while the CEFC has taken a A$51 million equity stake. The solar farm is also supported by a debt financing package of approximately A$250 million involving Australian and European banks ANZ, ING and Natixis.

On completion, Kiamal Solar Farm is expected to generate enough power for 133,500 homes and will abate 610,000 tonnes of carbon emissions annually. The project will install a 190MVAr synchronous condenser to improve grid strength in the region, facilitating a timely connection to the Victorian Transmission System, as well as strengthening the grid in north-western Victoria for the longer term. Synchronous condensers operate in a similar way to large electric motors and generators and enable the grid to resist large changes in power system frequency that arise from imbalances in supply and demand.

Total Eren is also working with TransGrid to deliver a new 220 kV Kiamal Terminal Station and Collector Substation, with the two 180MVA transformers designed and manufactured locally by Wilsons Transformers in Victoria.

Kiamal’s estimated output is fully contracted through a collection of long-term offtake agreements that involves energy companies Alinta and Flow Power, Zero Emissions Water – a consortium of 13 water authorities, and Mars Australia.

The patchwork of PPAs represent a new model that demonstrates a way forward for manufacturers, governments and other major commercial enterprises seeking ways of controlling their future energy costs. Total Eren is seeking to expand the Kiamal Solar Farm with a second stage and is exploring commercial options for battery storage up to an approved 270MW/1,080MWh.

Last Updated: 06/11/2019
NY Green Bank | June 2019 | New York, USA
Agriculture  | Energy Efficiency | Debt Investment | Demonstration, Term loan facility | View on Member website

NY Green Bank committed US$6.0 million to finance the construction and operation of a cluster of energy efficient robotic greenhouses developed by Agbotic, Inc. The Project is located in Sackets Harbor, NY and will grow certified organic produce for sale into local markets, while the Project’s energy efficiency measures and on-site generation are expected to reduce greenhouse gas emissions. This is NYGB’s first investment in a controlled environment agricultural asset as part of its ongoing efforts to create and expand new asset classes of sustainable infrastructure investments. The transaction creates an important precedent in the CEA sector and signals to the market that project financings are available to experienced CEA producers with high-quality assets.

Last Updated: 09/11/2019
NY Green Bank | June 2019 | New York, USA
C&I  | Energy Efficiency | Debt Investment | Demonstration, Standardization/Data collection, Term loan facility | View on Member website

NY Green Bank committed US$15.0 million to finance at least five energy efficiency or distributed generation projects in New York State. NYGB’s participation in this transaction provides a scalable financing model and establishes performance history for financing involving energy efficiency for medium sized, unrated commercial and institutional customers, a market segment that historically has had difficulty accessing capital for otherwise technically and economically feasible efficiency projects.

Last Updated: 09/11/2019
Clean Energy Finance Corporation | May 2019 | Australia
C&I, Residential  | Energy Efficiency, Smart Grid Technology | Equity Investment | Cornerstone stake, Demonstration | View on Member website

Sydney based innovator Morse Micro is developing Wi-Fi HaLow silicon chips that use a fraction of the power consumed by traditional Wi-Fi chips and offer long-range, secure Wi-Fi for Internet of Things technologies. The Wi-Fi HaLow chip uses the 900MHz radio band, which is lower than the 2.4GHz and 5GHz bands used by conventional Wi-Fi. It allows signals to reach further and pass through objects better using less power. It supports long-lasting battery life on devices which is an important feature for remote field-based applications.

Over 8,000 devices can be connected to a single access point, with data rates of many megabits-per-second. This enables use in a wide range of applications; beyond the traditional IoT use cases of smart homes and sensor networks to industrial controls, asset management, video, retail signs and displays.

The Clean Energy Innovation Fund invested A$1.8 million as part of the A$23.8 million Series A capital raising by Morse Micro in May 2019. The capital raising will help bring the Wi-FI HaLow chips to mass production and commercialisation.

Last Updated: 06/03/2019
Clean Energy Finance Corporation | May 2019 | New South Wales, Australia
Utility  | Onshore Wind | Debt Investment | Demonstration | View on Member website

The Collector Wind Farm in NSW, being developed by RATCH-Australia, will be one of the first in Australia to use the 4.2MW V117 Vestas turbines. In addition, Vestas will use innovative drone and 3D imaging technology to deliver routine blade maintenance and data collection.

The Collector Wind Farm is located along the Cullerin Range south-west of Goulburn, which has some of the windiest conditions in NSW. With 54 wind turbines, the project is expected to generate 528GWh of energy annually, enough to meet the needs of around 80,000 average homes. The CEFC has committed A$180 million to the development as sole debt financier to support the accelerated delivery of the innovative circa A$360 million project.

A RATCH-Australia Community Enhancement Fund will invest A$240,000 into local projects each year over the 30-year life of the project. The funds will be invested into the region via a pair of community trusts that have been structured with significant involvement of the local community.

Last Updated: 06/03/2019
Tata Cleantech Capital Limited | May 2019 | Maharashtra, India
Utility  | Solar | Debt Investment | Co-investment |

TCCL financed 50MW solar power project in the state of Maharashtra. The project was awarded under the government tender and has been operational for about 1.5 years. The power is being supplied to government owned power distribution company.

Last Updated: 11/21/2019
Tata Cleantech Capital Limited | May 2019 | Telangana, India
Utility  | Solar | Debt Investment | Co-investment |

TCCL financed an operational 42 MW solar power project in the state of Telangana. The project has been developed by a large Indian conglomerate. It has been operational since Nov 2017 and the power is being supplied to government owned power distribution company.

Last Updated: 11/21/2019