United Wind will install over 160 distributed wind energy systems for residential, agricultural and commercial customers throughout Central and Western New York State, facilitated by a US$4.0 million revolving construction loan from NY Green Bank. United Wind’s systems will foster greater access to renewable energy, while NYGB’s participation will help develop a strong track record for distributed renewable energy construction financings in the State.
Together with U.S. Bank as tax equity provider for the portfolio, NYGB is establishing a precedent financing model for distributed wind and facilitating deployment to establish the scale required to attract future private sector finance providers. The transaction structure utilized is broadly applicable to other new and innovative distributed energy business models where there has been limited scale to date.