NYSERDA recognized for innovative energy efficiency financing

The recent multi-million dollar bond issuance for energy efficiency financing by the New York State Energy Research and Development Authority (NYSERDA) and the New York State Environmental Facilities Corp. (EFC) has been recognized as “Deal of the Year for Small Issuer Financing,” by The Bond Buyer, a leading public finance publication. The bond issuance represented a unique financing collaboration between the two State authorities and reflects Governor Cuomo’s strategic statewide plan to scale up clean energy through creative financing mechanisms, enhance New York’s competitiveness for clean energy businesses, and make the state’s energy systems more resilient. NYSERDA’s $24.3 million bond issuance was backed by a guarantee through EFC’s Clean Water State Revolving Fund (SRF), the largest such fund in the nation, which provides AAA-rated financial assistance to local governments and public entities to finance clean water and drinking water projects, marking the first time Clean Water funds were used to reduce air contaminants that contribute to water pollution, as well as the first time NYSERDA used revenue bonds to finance consumer loans for residential energy efficiency improvements issued through the Green Jobs-Green New York (GJGNY) program.

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