By: Isabelle Elizondo On: December 21, 2023 In: Comments: 0

NYGB committed $25MM to fund interconnection expenses and other associated fees in the development of a portfolio of distributed energy storage projects, representing NYGB’s first purely energy storage transaction. This facility is a $25 million senior-secured revolving credit facility to fund interconnection deposits for the development of a portfolio of distributed energy storage projects. This will be NY Green Bank’s first purely energy storage transaction, contributing to its goal of investing $200.0 million toward energy-storage related projects. This transaction will also contribute to New York State’s goal to deploy 3 GW of energy storage by 2030.

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