New York Adds $45 Million In New Funding For Green Bank Program

Posted by SI Staff on October 22, 2015 No Comments
Categories : Policy Watch

15788_nymoney New York Adds $45 Million In New Funding For Green Bank Program
New York Gov. Andrew M. Cuomo has announced $49 million in new NY Green Bank funding.

NY Green Bank is a $1 billion state-sponsored financial entity designed to accelerate clean energy growth in New York State through private-sector partnerships that help create a self-sustaining marketplace and reduce the need for future government support.

The package of three deals is as follows:

  • $25 million will support a new warehouse facility for Level Solar, a New York-based solar provider that designs and installs systems for residential homes at no cost to the consumer;
  • $20 million – along with a $50 million warehouse facility provided by Citi – will go to Renew Financial to expand its consumer lending program for clean energy and energy-efficiency home improvements to New York State for the first time; and
  • $4 million in revolving construction loans and a partnership with U.S. Bank will support New York-based United Wind's installation of over 160 distributed wind energy projects for residential, commercial and agricultural customers throughout central and western New York.

‘These investments further cement New York's position as a global leader in clean energy development, as well as in the fight against climate change,’ Cuomo says in a statement.

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