NY Green Bank Sees Initial Transactions

Cuomo announces first Green Bank transactions

Capitol Confidential, October 22, 2014

Gov. Andrew Cuomo announced Wednesday the first transactions of the NY Green Bank, which will provide Wall Street-style sources for renewable energy projects throughout the state.

The first round of transactions will bring investments that add up to more than $800 million, according to a release. The financing would help bring solar and residential energy efficiency projects, among others.

“By leveraging the financial capacity of the private sector with an eye toward clean energy projects, NY Green Bank is creating a cleaner state for all New Yorkers,” Cuomo said in a statement. “The State’s contribution to these projects will support jobs and economic activity in our communities, and it is helping to grow the market for clean technology in New York by paving the way for more frequent and accessible funding going forward.”

Read More