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CDFA Energy Finance Update - April 4, 2023

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CDFA Energy Finance Newsletter
April 4, 2023
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Energy Finance Update


Join CDFA for the Return of the Revolving Loan Fund Training Course Week!
Revolving Loan Fund Week is coming up next month, with the Intro Revolving Loan Fund Course on May 1-2 followed by the Advanced Revolving Loan Fund Course on May 3-4. Register for one or both of these courses to learn from experts about developing, implementing, and managing revolving loan fund programs that are efficient and impactful.

Largest C-PACE Financing in Philadelphia Closed on $40M for Multifamily Property
The Philadelphia Energy Authority (PEA), Nuveen Green Capital, and Southern Land Company closed on $40 million for a 329-unit multifamily property in the Callowhill neighborhood of Philadelphia at 5th and Spring Garden Streets. This is the largest C-PACE financing in Pennsylvania to date.

Now Accepting Applications for the Caren S. Franzini Fellowship
The Caren S. Franzini Fellowship was created to build leadership positions for women in the field of development finance and to inspire them to embody Caren's spirit and professionalism. Franzini Fellows accepted into the program must be employed by a CDFA member and have worked in the development finance field for less than 10 years. Applications are being accepted through Friday, April 7, 2023.

Baker Tilly and Ever.green to Create First Marketplace for Clean Energy Tax Credits
Leading advisory CPA firm Baker Tilly US, LLP and Ever.green, a clean energy project funding and tax credit marketplace, have formed a strategic collaboration to reduce the complexity of transferring clean energy tax credits. Baker Tilly brings its energy advisory services, tax expertise, and professional due-diligence excellence to the Ever.green marketplace, ensuring all transactions are vetted, secure, and compliant with regulatory requirements.

Register Today for the 2023 Federal Policy Conference!
Reserve your spot at the 2023 CDFA Federal Policy Conference on April 11-12, 2023, in Washington, D.C. CDFA, with sponsorship by Ice Miller LLP and the National Development Council, will bring together leaders from the Biden administration, Congress, federal agencies, and the development finance industry to discuss the massive infrastructure investments made by the 117th Congress as well as the development finance challenges that state and local governments continue to face. Space is limited; act fast!

Minnesota Lawmakers Aim to Create New ‘Green Bank' to Fund Clean Energy Projects
DFL Lawmakers announced joint legislation in the House and Senate to create a new state-funded public entity. The Minnesota Climate Innovation Finance Authority (MCIFA) would create new ways to fund energy projects. The MCIFA would use both private and public investments to help organizations overcome any financial barriers to going green, acting as a sort of "green bank" for those organizations to dip into.

Picture Becoming Clearer for the Inflation Reduction Act Tax Credits
The Inflation Reduction Act changed a wide range of tax laws and includes over $320 billion in new and expanded incentives for energy efficiency, renewable and clean energy investments, fleet decarbonization, infrastructure improvements, and other sustainability-related investments.  The effective dates of various provisions began applying on January 1, 2023, and under the IRA, the changes will be implemented over an approximately 10-year plan period. 

New Bill Would Allow Washington Schools to Use P3 For Energy Savings Projects
House Bill 1777 was passed unanimously by the state House. The bill, which deals with financing for school capital projects, was cosponsored by state Rep. Joel McEntire, R-Cathlamet, of the 19th Legislative District. According to McEntire, the program HB 1777 would create could be used to fund projects schools need. Their energy savings would be used to pay the cost over time.

USDA Rural Development Makes $50M Loan to AR Valley Electric Cooperative
United States Department of Agriculture (USDA) State of Oklahoma Rural Development Director Kenneth Corn went across the Arkansas border to make a $50-million loan to Arkansas Valley Electric Cooperative. The loan will help Arkansas Valley Electric Cooperative continue to improve electricity and broadband for its customers, some of whom live in LeFlore and Sequoyah counties.

Applications Open for $2.5B Program to Build EV Charging in Communities
The U.S. Department of Transportation opened applications for the Charging and Fueling Infrastructure (CFI) Discretionary Grant Program, established by the Bipartisan Infrastructure Law, which will provide $2.5 billion over five years to fund electric vehicle (EV) charging and alternative-fueling infrastructure in communities across the country and along designated highways, interstates, and major roadways.

Upcoming Events
2023 CDFA Federal Policy Conference

CDFA // BNY Mellon Development Finance Webcast Series: Utilizing TIF with Brownfield Redevelopment Projects
April 18, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, TIF experts will introduce this financing tool and explore new strategies that local governments are employing to bring investment to otherwise unusable spaces.

Intro Revolving Loan Fund Course
May 1-2, 2023 - Daily: 12:00 PM - 5:00 PM Eastern
The Intro Revolving Loan Fund Course offers an in-depth look at RLF program development, implementation, and management. During this course, attendees learn the essential elements needed to operate a successful RLF program and discuss programs making a difference in communities throughout the country.

Energy Finance News

Electriq Power Secures $300M of Solar and Storage Financing
Renewable Energy Magazine | Mar. 27 | Energy Finance | Green Finance | Infrastructure Finance

Calumet Reaches Key Application Milestone for Loan Guarantee from the U.S. DOE
Yahoo! Finance | Mar. 27 | Energy Finance | Green Finance | Innovation Finance

SK Innovation Makes Additional $50M Investment in U.S. Clean Energy Startup
Korea JoongAng Daily | Mar. 23 | Energy Finance

How Biden's Inflation Reduction Act Can Fund Your Home and Car Upgrades
Yahoo! Finance | Mar. 23 | Energy Finance | Infrastructure Finance

Richland County, SC Locks in Local Incentives for Scout Plant That Would Bring 4,000 Jobs
Yahoo! News | Mar. 23 | Energy Finance | Infrastructure Finance

Guidance for Hydroelectric Efficiency Improvement Incentives Program Released
Federal Register | Mar. 22 | Energy Finance | Green Finance | Infrastructure Finance | Legislative | Tax Credits | U.S. Dept. of Energy (DOE) | Energy Efficiency Programs | Legislative Activities

New Jersey Receives $3M from EPA for Climate Change Initiatives
The Daily Targum | Mar. 20 | Access to Capital | Energy Finance | Federal | Green Finance | U.S. Environmental Protection Agency (EPA)

EPA Announces $3M for Innovative Climate Pollution Projects Across Colorado
National Law Review | Mar. 19 | Energy Finance | Green Finance | Infrastructure Finance | U.S. Environmental Protection Agency (EPA) | State Green Finance Programs

Illinois Climate Bank Announces Over $250M in Climate Finance Achieved in First Year
Illinois.Gov | Mar. 17 | Energy Finance | Federal | Infrastructure Finance | Property Assessed Clean Energy (PACE) | Public-Private Partnership (P3) Financing | Rural Development | Water Finance

Transportation Electrification Projects Awarded Nearly $1M in Clean Energy Fund Grants
Washington State Department of Commerce | Mar. 16 | Energy Finance | Green Finance | Infrastructure Finance

Kentucky Announces $32M for Clean Drinking Water and Infrastructure Improvements
WNKY.com | Mar. 15 | Access to Capital | Disaster Recovery & Relief | Infrastructure Finance | Legislative | Water Finance | COVID-19 | Water Finance | Legislative Activities | Drinking Water

Senators Introduce Bipartisan Hydrogen Infrastructure Package
CCJ Digital | Mar. 14 | Energy Finance | Infrastructure Finance | Legislative | Transportation | Legislative Activities

National Electric Vehicle Infrastructure Grants Announced in Pennsylvania
PennDOT | Mar. 14 | Access to Capital | Energy Finance | Green Finance | Infrastructure Finance | U.S. Dept. of Transportation (DOT) | Transportation

Vermont Voters Approve Wastewater Bond Issuance
The Bond Buyer | Mar. 9 | Bond Finance | Water Finance

Origis Energy Obtains $750M Credit Facility for U.S. Solar, Storage Pipeline
PV Tech | Mar. 7 | Energy Finance

Plans to Convert Oswego, NY Brownfield Site into Solar Project
Benzinga | Mar. 6 | Brownfield Financing | Energy Finance | Green Finance | Redevelopment | State Finance Program

West Virginia Infrastructure and Jobs Development Council Announces Funding for Water, Sewer Projects
Loot Press | Mar. 5 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Oregon to Receive $19M from Bipartisan Infrastructure Law for Drinking Water Infrastructure
The Chronicle | Mar. 5 | Access to Capital | Infrastructure Finance | Legislative | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | Legislative Activities | Drinking Water

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


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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • 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
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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