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 | June 2018 | Queensland, Australia
| Energy Efficiency, Energy Storage, Low Emissions Transport, Smart Grid Technology, Solar, Waste-to-Energy | Equity Investment | Demonstration | View on Member website

Clean energy business accelerator EnergyLab has expanded to Brisbane. For its new Brisbane base, EnergyLab selected four start-ups after a rigorous assessment process. Each start-up will receive 6-24 months support, including rent-free office space, AU$50,000 in seed capital, and mentoring and networking opportunities to help them build a business platform for their ongoing development.

The new EnergyLab base is co-located with the CEFC. The Queensland government is providing an additional AU$400,000 in operational funding, as part of its Advance Queensland Biofutures 10-Year Roadmap and Action Plan.

The seed capital that EnergyLab provides to start-ups is financed through the Clean Energy Seed Fund, which was established in 2017 by specialist fund manager Artesian. The CEFC, through the Clean Energy Innovation Fund, is a AU$10 million cornerstone investor in the AU$26 million Clean Energy Seed Fund.

Last Updated: 07/27/2018
Green Investment Group | June 2018 | Maharashtra, India
Utility  | Solar | Equity Investment | Co-investment | View on Member website

Lightsource BP, a global leader in the development, financing and operation of solar energy projects, is pleased to announce the completion of a renewables project in Maharashtra, India. The project was financed in partnership with UK Climate Investments (UKCI), a joint venture between the Green Investment Group and the UK Government’s Department for Business Energy and Industrial Strategy (BEIS). The commissioning of the 60 MWp solar farm in Wagdari, Maharashtra marks a significant milestone for Lightsource BP as its first utility solar asset commissioned in India.

Last Updated: 07/30/2018
Clean Energy Finance Corporation | June 2018 | Australia
Utility  | Onshore Wind, Solar | Cornerstone stake, Demonstration, Fund investment | View on Member website

The NAB Low Carbon Shared Portfolio is the first of its kind in Australia, giving Australian organisations the ability to directly invest in large-scale renewable energy projects.

The innovative NAB Low Carbon Shared Portfolio creates an opportunity for institutional investors such as superannuation funds to participate in the renewable energy sector even though they may not be able to enter into individual project financing transactions.

The AU$200 million Low Carbon Shared Portfolio is backed by a portfolio of eight NAB loans that fund seven existing wind and large-scale solar projects in Australia. The CEFC made a AU$90 million cornerstone commitment to the new offering.

Last Updated: 07/27/2018
Clean Energy Finance Corporation | June 2018 | Australia
Utility  | Solar | Debt Investment | Demonstration | View on Member website

Australia’s largest ASX-listed solar infrastructure business, New Energy Solar, is using finance from the CEFC to help to deliver a portfolio of Australian solar power plants to its investors. The Manildra Solar Power Plant, in central-western NSW, is New Energy Solar’s foundation Australian asset.

New Energy Solar is investing in Australian projects with high-quality solar resources and long-term offtake agreements, to generate stable long-term returns for its security holders.

The company already has seven operational solar power plants and a further 14 in construction or committed in the United States.

The 46.7MW (AC)/55.9MW (DC) Manildra plant, developed by First Solar, has a long-term offtake agreement with Energy Australia. It is delivering electricity into the National Electricity Market.

The Manildra plant is expected to generate more than 118,000 megawatt hours of electricity annually. This is equivalent to displacing more than 91,000 tonnes of CO2 emissions per annum, or powering 14,000 homes.

The CEFC is providing a AU$50 million bridging loan facility to assist New Energy Solar to build its presence in the Australian market. The investment reflects the CEFC mission to catalyse additional private sector investment in Australian clean energy. The CEFC finance will also provide further liquidity to the Australian solar development cycle, by providing opportunities for investors to purchase projects from developers.

Once repaid by New Energy Solar, the CEFC finance will be further invested in Australian clean energy opportunities.

Last Updated: 07/27/2018
NY Green Bank | June 2018 | New York, USA
Residential  | Solar | Debt Investment | Co-investment, Demonstration | View on Member website

Renew, a leading integrated power company in the United States, is developing a national portfolio of Community DG solar projects with 19.0% of the portfolio located in NYS. Renew engaged an investment bank (the “Lead Arranger”) to structure, arrange, and syndicate a term loan to finance the projects when they are placed in service, and NYGB is committing $18.0 million as part of that term loan.

This transaction is among the first large-scale financings for a portfolio of Community DG solar assets and is estimated to support the deployment of up to 15.0 MW of Community DG solar assets in NYS. This deployment is expected to: (i) provide residential subscribers access to reliable, clean, low-cost energy; and (ii) reduce up to 9,280 metric tons of greenhouse gas (“GHG”) emissions annually or up to 232,000 metric tons of GHG emissions over a 25-year project life. The transaction will help to demonstrate viability of the Community DG model, drawing new investors and financial institutions into the marketplace and ultimately lowering the cost of capital. This, in turn, is expected to benefit consumers in the form of broader access to lower-cost clean energy generation.

Last Updated: 09/01/2018
Green Investment Group | June 2018 | India
Utility  | Solar | Equity Investment | Demonstration | View on Member website

Fortum and Elite Alfred Berg (EAB) have entered into a partnership with UK Climate Investments (UKCI) that will introduce a new asset class into the Indian renewables market. UKCI is a joint venture between the Green Investment Group and the UK Government’s Department for Business, Energy and Industrial Strategy, which aims to help the world’s developing economies adapt to climate change and promote cleaner, greener growth.

UKCI will acquire a 40 per cent ownership interest in a 185 MW portfolio of operating solar assets in India. Fortum will retain a 46 per cent interest in the solar farms, with EAB entering an agreement to acquire the remaining 14 per cent. The acquired portfolio comprises four solar farms located in Rajasthan, Madhya Pradesh, and Karnataka. The transaction represents a significant development in one of the world’s fastest growing solar markets, with the portfolio used to create India’s first unlisted renewables ‘yieldco’ vehicle for international investors.

Last Updated: 07/30/2018
Clean Energy Finance Corporation | May 2018 | New South Wales, Australia
Utility  | Onshore Wind | Debt Investment | Co-investment | View on Member website

CEFC participated in a AU$113 million senior debt facility alongside Westpac and Sumitomo Mitsui Banking Corporation for the 135 MW Crudine Ridge Wind Farm. The wind farm will provide enough electricity to power around 55,000 homes each year, abating over eight million tonnes of carbon emissions over its lifetime. It is expected to support 75 full time equivalent jobs during construction, stimulating further investment in local businesses and services.

Last Updated: 07/27/2018
NY Green Bank | May 2018 | New York City, New York, USA
Transport  | Low Emissions Transport | Debt Investment | Securitization | View on Member website

In May 2017, NY Green Bank provided a $43.3 million term loan (the “Term Loan”) and a $5.0 million seasonal variable funding note (the “SVFN”, collectively with the Term Loan, the “Credit Facilities”) to NYC Bike Share, LLC (“NYCBS”). NYCBS is the exclusive operator of the NYC bike share system (“Citi Bike”) which is comprised of 12,000 bikes and 750 stations and is the largest bike share system in North America. Proceeds from the original Credit Facilities primarily supported the addition of 2,000 bikes primarily in low-to-moderate income (“LMI”) neighborhoods in Harlem, Queens, and Brooklyn and enabled NYCBS to address the seasonal nature of its business when there is lower ridership in winter months. In May 2018, due to favorable transaction performance within this new asset class, NYGB increased the Term Loan amount outstanding by $6.0 million.

Last Updated: 09/01/2018
Clean Energy Finance Corporation | May 2018 | Victoria, Australia
C&I  | Energy Efficiency, Solar | Debt Investment | Co-investment, Demonstration | View on Member website

The Holiday Inn Express at Southbank in Melbourne has been designed to dramatically reduce its energy consumption and achieve a 5-star National Australian Built Environment Rating System (NABERS) Energy rating in operation. To help achieve the 5-star rating, the Southbank Project is set to receive high performance glazing, high efficiency air-cooled chillers and condensing boilers and solar photovoltaic systems on the hotel’s roof.

CEFC committed AU$39 million to a construction and term debt facility as part of a co-financing for the AU$125 million project, and is effectively lifting the project from one targeting NABERS 4.5 stars to a 5-star Energy rating – which results in a hotel energy consumption saving of approximately 25 per cent. This investment will help set a benchmark within the sector as the CEFC works with Pro-invest to promote the insights and energy efficiency learnings gained.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | May 2018 | Australia
C&I, MUSH  | Smart Grid Technology | Equity Investment | Cornerstone stake, Demonstration, Fund investment | View on Member website

CEFC through the Clean Energy Innovation Fund has made a AU$5 million cornerstone equity investment in Zen Ecosystems. The investment is part of a series B capital raising to further develop and deploy the Zen HQ and Zen Thermostat products in Australia.

Zen Ecosystems has developed intelligent energy management solutions that could save Australian businesses up to 25 percent on their energy costs. The company is increasing deployment of its innovative Zen HQ and Zen Thermostat products in Australia, drawing on finance from the Clean Energy Innovation Fund. Retailers, hotels and motels, schools, universities, car dealerships and fast food outlets are among businesses that could save on energy costs using the Zen technology.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | April 2018 | Australia
Utility  | Energy Efficiency, Low Emissions Transport, Solar | Equity Investment | Fund investment | View on Member website

The AU$12 billion IFM Australian Infrastructure Fund, managed by IFM Investors, is working to reduce carbon emissions at some of Australia’s leading ports, airports and electricity infrastructure. IFM Investors is a leading global infrastructure manger which has Australia’s largest portfolio of high-quality infrastructure assets including, Ausgrid, Brisbane Airport, Melbourne Airport, Sydney’s Port Botany and the Port of Brisbane. CEFC committed AU$150 million towards the fund to help achieve meaningful carbon efficiencies in its Australian infrastructure portfolio.

The CEFC estimates that just a five per cent improvement across the assets in the portfolio would abate almost 69,000 tonnes of CO2-e annually. This is equivalent to removing 14,775 cars from the road each year, or providing electricity to 7,450 homes a year. IFM Investors, owned by 27 of Australia’s industry superannuation funds, invests on behalf of six million Australian workers and approximately 15 million pension fund members globally.

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

The Australian Prime Property Fund Commercial (APPF Commercial) has 21 assets across NSW, Victoria, Queensland, ACT and South Australia. It is the first Australian fund to be awarded a 6-Star Green Star portfolio performance rating. It is also ranked at Number One on the 2017 Global Real Estate Sustainability Benchmark (GRESB) across all sectors and geographies. CEFC committed up to AU$100 million equity in the Fund and is targeting more than 40,000 tonnes of carbon emissions over the expected lifetime of the assets in the portfolio.

Through an agreement with the CEFC, Lendlease is targeting net zero emissions across the AU$4.5 billion commercial property portfolio as early as 2025. The net zero carbon goal is well ahead of the Australian Sustainable Built Environment Council’s call for buildings to achieve net zero carbon emissions by 2050 to meet international obligations.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | March 2018 | Australia
Residential  | Energy Storage, Solar | Debt Investment | Demonstration | View on Member website

Leading developer Mirvac is planning communities in Brisbane and Sydney where new homes aimed at first and new home buyers will have built-in solar-plus-battery systems that are expected to reduce household energy costs by as much as 90 per cent. CEFC is committing up to AU$90 million in debt finance as part of Mirvac’s broader financing of the masterplanned communities.Homes in the Mirvac developments will each come with a ready-to-operate 5.1kW rooftop solar system, alongside a 10kWh battery system. The three to four-bedroom homes will also incorporate high-grade insulation, LED lighting and energy efficient appliances.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | March 2018 | New South Wales, Australia
Utility  | Solar | Debt Investment | Demonstration | View on Member website

Newcastle City Council’s Summerhill Waste Management Centre is transforming into a renewable energy hub with a 5MW solar farm being built alongside a 2.2 MW landfill gas generator and small wind turbine. The council has borrowed AU$6.5 million from the CEFC to help finance the solar farm, which is expected to save the council around AU$9 million over the life of the facility, once construction and operational costs have been factored in.

Last Updated: 05/01/2018
Green Finance Organisation (Japan) | March 2018 | Okayama, Japan
Utility  | Small Hydro | Equity Investment | Demonstration |

GFO committed to invest US$0.8 million of equity in a small Hydro project in Okayama prefecture. In this project, Nishi Awakura village of the local government became the main sponsor and established the special corporation (SPC) for the project. The project is a new private-sector small hydropower plants, utilizing the abundant water resources of the Yoshino River crossing the village. Nishi Awakura village in the business site is located at the northernmost tip of Okayama prefecture, and has a population of about 1,500 with a population decline and an aging population. As a local government project, the deal will realize a regional model that maximizes the use of regional resources and achieves both low carbon sustainability and sustainable development. This project, along with existing village hydropower plants, will assure that the Nishikakura village electricity needs are 40% covered by hydroelectric power generation.

Last Updated: 06/25/2018
Clean Energy Finance Corporation | March 2018 | Australia
MUSH  | Smart Grid Technology | Equity Investment | Demonstration | View on Member website

CEFC committed up to AU$10 million to Thinxtra as it scales up its IoT network to target sustainable and energy conserving uses. In early 2017, Thinxtra introduced the Smart Council Program to the first selected 50 councils. This unique and successful program promised and delivered Sigfox network coverage within 4 weeks at no cost to the councils (including free installation, free development kits for local incubators and free connectivity for smart council application developments). With the support of the CEFC, the program is extended to 100 Australian councils that are ready to make IoT a reality for their community.

Last Updated: 05/01/2018
Green Investment Group | March 2018 | North Sea, England, UK
Utility  | Offshore Wind | Equity Investment | Co-investment | View on Member website

GIG acquired a 25 per cent interest in Westermost Rough offshore wind farm from Marubeni Corporation. GIG is a member of a consortium with Macquarie European Infrastructure Fund 5 (MEIF5) and the Universities Superannuation Scheme (USS) that already owns a 25 per cent stake in Westermost Rough. Ørsted also owns a 50 per cent interest in the project.

Located 8km off the Holderness coast in the United Kingdom, the 210 MW wind farm comprises 35 Siemens Gamesa Renewable Energy 6 MW direct-drive turbines and has been in commercial operation since June 2015. Westermost Rough represented the first commercial deployment of the 6 MW turbine anywhere in the world and was GIG’s and Marubeni’s first investment in a UK offshore wind project at the construction stage. Together, GIG and Macquarie have invested in almost half of the UK’s offshore wind capacity.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | February 2018 | Australia
Transport  | Low Emissions Transport | Debt Investment | Fund investment, Interest rate buy-down | View on Member website

Major commercial auto and equipment lender Metro Finance’s Metro Green initiative is working to increase the uptake of low emissions passenger and light commercial vehicles. Metro Finance, which has an extensive broker network across Australia, is offering a 0.7 per cent discount on the standard rates offered to customers who purchase lower emissions passenger and light commercial vehicles that meet predetermined standards. CEFC committed up to AU$50 million in finance for the program, which is part of its broader focus on reducing transport-related emissions through the Sustainable Cities Investment Program.

Last Updated: 05/01/2018
Clean Energy Finance Corporation | February 2018 | Australia, Australia
Residential  | Energy Efficiency | Debt Investment | Cornerstone stake, Demonstration | View on Member website

National Australia Bank (NAB) is the first Australian bank to launch a green bond backed by residential mortgages that meet international low carbon buildings criteria. CEFC made a cornerstone investment of AU$25 million in NAB’s $300 million tranche of Class A1-G Notes that has been certified by the Climate Bonds Initiative (CBI).

The CBI has reviewed Australian building codes and energy ratings schemes to determine which are in line with these trajectories. Buildings approved under those codes and energy ratings schemes can automatically be deemed compliant with the Low Carbon Buildings criteria and eligible for CBI certification, providing confidence for investors about the sustainability of the underlying assets. NAB’s green notes were part of a larger non-certified AU$2 billion Residential Mortgage Backed Securitisation (RMBS).

Last Updated: 05/01/2018
Clean Energy Finance Corporation | February 2018 | Australia
Agriculture  | Energy Efficiency | Equity Investment | Demonstration | View on Member website

The agricultural platform of Macquarie Infrastructure and Real Assets (MIRA) is targeting major clean energy benefits in Australian agriculture, working alongside the CEFC and the CSIRO. The CEFC investment will contribute to sustainable on-farm asset management practices, with MIRA investing in farms across multiple climatic zones, production regions and end markets.

A technology-driven whole-of-farm approach, incorporating the full range of precision agriculture and other sustainable farm management practices, will deliver increased productivity with improved energy efficiency. A key feature of the CEFC AU$100 million investment is the establishment of a specialist Energy, Emissions and Efficiency Advisory Committee – 3EAC – drawing on the skills of the CSIRO, MIRA and CEFC.

Last Updated: 05/01/2018
Green Finance Organisation (Japan) | January 2018 | Hokkaido, Japan
Utility  | Biogas | Equity Investment | Co-investment, Demonstration | View on Member website

GFO committed to invest US$0.7 million of equity in a biogas project in Hokkaido. The biogas will be generated via fermentation of agricultural waste. Loans are co-financed mainly by regional commercial financial institutions. This project is the first biogas power generation project for Kadokawa Construction Co., and will be constructed using proprietary technology developed by collaborative research with Hokkaido University. In this way the project can be a pivotal step in the creation of future cases of implementation. The project will avoid 1,643 tonnes of carbon emissions annually. The project will also aid the establishment of “biomass industrial city concept” aiming at creation of employment by the new industry and activation of agriculture, forestry and fisheries industries locally.

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

CEFC supported the expansion of the emerging solar generation belt in regional New South Wales, committing AU$30 million in non-concessional senior debt finance to what will be the state’s largest solar farm. The 150MW (AC) Coleambally Solar Farm is being developed by Neoen Australia. The Coleambally Solar Farm will consist of about 565,000 solar panels on 550 hectares. The project has contracted 70 per cent of its output to EnergyAustralia. The Coleambally site was chosen after a feasibility assessment confirmed there was an abundant solar resource at the location, which also boasts an existing electricity substation with grid connection capacity.

Last Updated: 05/01/2018
CT Green Bank | Open Program Since 2013 | Connecticut, USA
Residential  | Energy Efficiency, Low Emissions Transport, Solar | Grant Investment | Consumer education/marketing, Interest rate buy-down, Loan loss reserve | View on Member website

The Smart-E residential loan program is a financing program developed in partnership with Energize CT and local lenders that uses a US$1.8 million loan loss reserve and interest rate buy-downs (US$4.3 million total) to stimulate the market for residential energy efficiency and solar loans in Connecticut. Through the product, the Connecticut Green Bank lowers the cost of capital for Connecticut residential customers seeking to install solar PV, high efficiency heating and cooling equipment, insulation or other home energy upgrades and reduces the loan performance risks to lenders. The US$1.8 million loan loss reserve is used to encourage lenders to offer below market interest rates and longer terms for unsecured loans, mitigates their losses, and encourages customers to undertake measures that would prove uneconomical at higher interest rates.

Last Updated: 09/01/2018
CT Green Bank | Open Program Since 2013 | Connecticut, USA
Residential  | Energy Efficiency, Solar, Water Conservation | Debt Investment | Co-investment, Loan loss reserve | View on Member website

Through a partnership with Capital for Change (C4C), a local Community Development Financial Institution, the LIME loan provides for up to 20 year terms for an unsecured low interest loan product geared towards mid-stream energy improvements and serving properties where at least 60% of units serve renters at 80% or lower of Area Median Income. Projected energy savings are used to cover the debt service of the loan. Up to 25% of the proceeds of each loan can be used for non-energy health and safety upgrades. CT Green Bank supports LIME with a US$625,000 loan loss reserve and has committed to lend US$3.5 million to capitalize the loan fund. This program is supported by a $5 million investment from the MacArthur Foundation to the Housing Development Fund and CT Green Bank.

Last Updated: 09/01/2018
CT Green Bank | Open Program Since 2016 | Connecticut, USA
Residential  | Energy Efficiency, Energy Storage, Low Emissions Transport, Solar | Debt Investment | Subordination | View on Member website

This term loan provides gap financing enabling qualifying energy improvements to be implemented, as well as health and safety measures as needed. The loan product is subordinate, secured debt; unsecured debt may also be considered based on requirements of existing debt and property/project financials.

Last Updated: 09/01/2018