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CDFA Energy Finance Update - January 4, 2022

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CDFA Energy Finance Newsletter
January 4, 2022
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Energy Finance Update

Features

DOE Announces Funding Opportunity for Small Businesses to Help Build a Community-Focused Clean Energy Economy
The U.S. Department of Energy (DOE) announced $54 million in seed funding for U.S. small businesses to research, develop, and create commercialization plans for new technologies that equitably accelerate the national transition to a clean energy economy.

Eddy County, NM Approves $40M in Bonds for Solar Project Near Carlsbad
Eddy County issued $40 million of industrial revenue bonds (IRB's) for a solar project by Chevron USA to power its oilfield operations. Eddy County's Board of County Commissioners approved the bonds on Dec. 21 for a 20-megawatt project on 300 acres of New Mexico State Land Office leased land.

$82.5B in Infrastructure Law for Water Projects, with Emphasis on Low Income Communities
The Infrastructure Investment and Jobs Act contains significant water-related provisions, amounting to $82.5 billion in spending. Areas addressed by these provisions include drinking water safety, clean water more generally, access to water, and research.

Lawmakers Consider Bill to Account for Cleanup When Developing Renewable Energy Projects
State lawmakers are considering cleanup requirements for renewable energy projects when they reach the end of their useful lives–which in most cases is decades away. The bill from Rep. Kathy Rapp (R-Warren) would require renewable energy developers to create a decommissioning plan before they start building.

Illinois Energy Conservation Authority Closes $2.4M in C-PACE Financing for a Hydroponic Vertical Farm Facility
The Cook County PACE Program, administered by The Illinois Energy Conservation Authority, an Illinois tax-exempt 501(c)(3) nonprofit organization, announced that it has closed on $2,470,000 in financing for the first Commercial Property Assessed Clean Energy (C-PACE) project in Calumet City, Illinois.

DOE and DOT Launch Joint Effort to Build Out Nationwide Electric Vehicle Charging Network
U.S. Secretary of Energy Jennifer M. Granholm and U.S. Secretary of Transportation Pete Buttigieg signed a memorandum of understanding to create a Joint Office of Energy and Transportation to support the deployment of $7.5 billion from the President's Bipartisan Infrastructure Law to build out a national electric vehicle charging network that can build public confidence, with a focus on filling gaps in rural, disadvantaged, and hard-to-reach locations.

USDA Grant Program Provides Funds for Rural Agricultural Solar Projects
Two potato farmers in Maine are set to receive grant funding as part of more than $24 million designated for decarbonized energy infrastructure projects in rural communities in the state. The program is available in eligible rural communities countrywide.

Iowa Governor Announces $100M for Water Infrastructure and Water Quality
The Iowa Finance Authority will provide $75 million for the Water Infrastructure Fund through federal American Rescue Plan Act dollars, a news release said. The funding will support projects that are meant to reduce excess nutrients, improve drought resiliency, reduce flood risks, improve public health, promote reuse of water and wastewater, and economically benefit communities and the state.

Former Coal Mine in Martin County, KY to Become a Solar Energy Facility
Savion, an energy company based in Kansas City, Missouri, intends to put solar panels on an abandoned coal mine site in Martin County. Construction is expected to begin next year, and in the process create nearly 300 construction jobs. The price tag for the project is $231 million, which includes a $33 million Kentucky Industrial Revenue Bond.

Upcoming Events
Fundamentals of Economic Development Finance Course

Intro Bond Finance Course
February 14-15, 2022 - Daily: 12:00 - 5:00 PM Eastern
The Intro Bond Finance WebCourse provides an in-depth look at governmental and qualified private activity bonds, with a focus on industrial development bonds (IDBs), 501(c)(3) non-profit bonds, exempt facility bonds, and other special bond programs authorized by the federal government.

Advanced Bond Finance WebCourse
February 16-17, 2022 - Daily: 12:00 - 5:00 PM Eastern
The Advanced Bond Finance Course is designed for professionals who already have an understanding of tax-exempt financing and seek detailed instruction on complex financing techniques. Expert speakers will explore topics including the application of financial derivatives, advance refundings, investing bond proceeds, and how to spot arbitrage issues.

Energy Finance News

$105M WIFIA Loan Helps Wastewater Treatment in Sarasota County, FL
Water World | Dec. 28 | Infrastructure Finance | Water Finance

New Lake County, IL Program Will Help Businesses Go Green
Daily Herald | Dec. 24 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

Local Schools in NY Take Energy-Saving Into Consideration for Building Improvements
Times Herald-Record | Dec. 22 | Energy Finance | Green Finance

Chester County, PA Officials Activate Clean Energy Financing Program
Daily Local News | Dec. 20 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

Navarro County, TX Residents Comment on Solar, Wind Projects
Corsicana Daily Sun | Dec. 18 | Bond Finance | Energy Finance | Green Finance | Incentives

Orange Mall Extension in Arizona Earns Honor for Green Infrastructure
ASU News | Dec. 15 | Community Development | Energy Finance | Green Finance | Infrastructure Finance

Chevron Seeks $30M in Eddy County Bonds for Solar Farm South of Carlsbad
Carlsbad Current-Argus | Dec. 14 | Bond Finance | Energy Finance | Green Finance

Rural Arizona Communities Receive Over $50M for Energy Efficiency Improvements
KTAR News | Dec. 13 | Access to Capital | Energy Finance | Federal | Resiliency | Rural Development | U.S. Dept. of Agriculture (USDA)

Flagler Beach, FL Commission Signs Off on Revolving Loan of Up to $17.6M to Rebuild Sewer Plant
Flagler Live | Dec. 10 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

County, Solar Farm Discuss Economic Development Agreement
Pharos Tribune | Dec. 9 | Bond Finance | Economic Development | Energy Finance | Green Finance | Tax Credits

Environmental and Labor Groups Call on RI to Invest in Greener Schools
The Providence Journal | Dec. 8 | Bond Finance | Energy Finance | Green Finance | Incentives

EPA Urges States to Route Water Infrastructure Funds to Underserved Communities
The Bulletin | Dec. 8 | Rural Development | State Finance Program | Water Finance

Burlington, VT Voters Strongly Support Net Zero Energy Revenue Bond
Vermontbiz | Dec. 8 | Bond Finance | Energy Finance | Green Finance

EPA Announces $275M WIFIA Loan to Improve Water Infrastructure in New Orleans, LA
U.S. EPA | Dec. 8 | Federal | U.S. Environmental Protection Agency (EPA) | Water Finance

Infrastructure Bill Will Energize Pennsylvanians
Pittsburgh Post-Gazette | Dec. 6 | Brownfield Financing | Economic Development | Energy Finance | Innovation Finance

EPA Invites 39 New Projects to Apply for Water Infrastructure Loans
U.S. EPA | Dec. 6 | Federal | Infrastructure Finance | U.S. Environmental Protection Agency (EPA) | Water Finance


Highlights from the Online Resource Database

CDFA - Frost Brown Todd LLC Infrastructure Finance Series: Public-Private Partnerships (P3) Financing for Energy
Energy Finance | Infrastructure Finance | Public-Private Partnership (P3) Financing | Rural Development | Urban Development
Interest in Public-Private Partnership (P3) finance is growing not only because state and the local governments realize the strength, flexibility, and efficiency of the P3 model, but because of the growing need for P3s to promote higher quality and greater coordination between public and private sectors. P3s are an asset for both capital and operating needs since projects can benefit from a private operating option and/or affordable capital provided by the bond and debt markets. When P3s are paired with bonds or other traditional financing, major energy infrastructure and related development projects become possible. Learn the different ways these renewable energy deals can be structured and the common characteristics and drivers of P3 financing throughout the country.

CDFA-Bricker PACE Webinar Series: PACE 2.0 - The Next 10 Years
Economic Development | Energy Finance | Property Assessed Clean Energy (PACE) | Webcasts
It has been approximately 10 years since the first PACE programs began. During this workshop, our speakers provided insights related to expanding PACE assessments to benefit buildings and properties for other non-energy related improvements such as indoor air quality, lead water pipe replacement, surface stormwater mitigation, and sewer overflows.


The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information visit CDFA.net or email info@cdfa.net


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net

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CDFA National Sponsors

  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor