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CDFA Energy Finance Update - February 7, 2023

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CDFA Energy Finance Newsletter
February 7, 2023
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Energy Finance Update

Features

Coming Up Next Month: CDFA's Intro and Advanced Bond Finance Courses!
Join CDFA for our upcoming Bond Finance Week! The Intro Bond Finance Course will take place on March 13-14 followed by the Advanced Bond Finance Course on March 15-16. Register for one or both of these courses to learn from experts about how to bring economic growth to your community by utilizing the vast resources of the bond finance industry.

2023 Energy Predictions: Inflation Reduction Act Spurs Clean Energy Boom
Policy experts share their predictions for the year to come: Inflation Reduction Act (IRA) funding will spur a renewable energy boom along with equitable clean energy deployment in Tribal communities, as electric trucks and charging infrastructure shift into high gear, battery demand surges, and the Biden administration introduces new power sector pollution regulations.

Pinellas, FL Considers Clean-Energy Loan Program to Entice Affordable Housing
In a bid to attract developers for affordable housing, Pinellas County could expand a program meant to encourage builders to invest in energy-saving features or ones that improve resiliency to climate change. County commissioners directed staff to bring back more information on possible changes to its Property Assessed Clean Energy program.

$42M C-PACE Loan to HB Capital Group for Isles Beach, Florida Resort
Global law firm Reed Smith announced that it has advised North Bridge, a sustainable financing lender and servicer, on a $42 million commercial property assessed clean energy loan to HB Capital Group, as part of a renovation of the historic Newport Beachside Hotel & Resort in Sunny Isles Beach, Florida. This marks the largest C-PACE transaction in Florida to date.

Louisiana State Bond Commission Receives Approval of Financing for Origin 2
Origin Materials, Inc., the world's leading carbon-negative materials company announced that the Louisiana State Bond Commission has unanimously passed a resolution granting its final approval of the issuance of up to $1.5 billion of tax-exempt bonds for the financing for the construction of Origin 2, the Company's first world-scale manufacturing facility, to be located in Geismar, Louisiana.

Burlington, MA Offers Property Assessed Clean Energy Program
MassDevelopment and the Massachusetts Department of Energy Resources launched the Property Assessed Clean Energy program in July 2020. The program offers property owners long-term, upfront financing to implement projects that reduce operating costs and increase their property values, in turn, Burlington benefits from the investment as well as the environmental benefits realized from the property's reduction of energy consumption.

Solar Energy Loan Fund Surpasses $30M of Residential Loans
The Solar Energy Loan Fund (SELF), a 501(c)(3) non-profit organization providing unsecured financing solutions to Florida and Southeast U.S. residents adding solar and home improvements, recently surpassed $30 million of cumulative loans. SELF has issued more than 3,000 green home loans, which average about $10,000 per loan but can range up to $50,000, for rooftop solar, high-efficiency air conditioners, roofing repairs, and other residential sustainable improvements.

Green Banks Poised for Billions in Climate Funds
In 2022, Congress approved a Greenhouse Gas Reduction Fund of $27B, largely to pour money into green banks and similar financial institutions. Newly established green banks from Nevada to Illinois are readying for federal support that could supercharge their efforts, while bipartisan leaders in places such as New Mexico and Alaska are pushing to create their own state green banks.

Upcoming Events
Intro Bond Finance Course

CDFA // BNY Mellon Development Finance Webcast Series: P3 Financing Approaches for Broadband Infrastructure
Tuesday, February 21, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Webcast Series, experts will highlight the resources available for financing broadband, discuss navigating the use of P3 for broadband, and share first-hand knowledge of their successes utilizing P3 financing for broadband projects.

CDFA-Bricker Webinar Series: Current Landscape of Public Incentives and Financing Options for Green & Sustainable Assets
Tuesday, March 7, 2023 - 2:00 PM - 4:00 PM Eastern
This installment of the CDFA-Bricker Webinar Series will provide an overview of public incentives and financing programs being developed with the passage of the Bipartisan Infrastructure Legislation and Inflation Reduction Act, along with existing programs - such as PACE financing - that drive investments in sustainable building systems and other energy assets.

Energy Finance News

Two Colorado Utilities Receive $48.5M from USDA for Grid Upgrades
Kiowa County Press | Feb. 5 | Access to Capital | Energy Finance | Federal | Infrastructure Finance | Rural Development | U.S. Dept. of Agriculture (USDA) | Rural Energy Programs | USDA Rural Energy for America Program Guaranteed Loan Program (REAP Loans)

USDA Loan to Fund Solar Power on Maine and New Hampshire Farms
BIZ | Feb. 4 | Access to Capital | Agriculture Finance | Energy Finance | Federal | Green Finance | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA)

Bipartisan Infrastructure Law Puts $580M to Native American Water Rights Settlement
NBC Montana | Feb. 3 | Legislative | Tribal Finance | Water Finance | Water Finance | Legislative Activities

USDA Renewable Energy Grants and Low Interest Loans Available
Ohio's Country Journal | Jan. 30 | Access to Capital | Agriculture Finance | Energy Finance | Revolving Loan Funds (RLFs) | Rural Development | U.S. Dept. of Agriculture (USDA)

White House Launches Lead Service Replacement Accelerators Program
Idaho Capital Sun | Jan. 30 | Access to Capital | Development Finance Toolbox | Infrastructure Finance | Legislative | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | Legislative Activities | Drinking Water

USDA Investing $2.7B for Rural Electric Infrastructure
USDA | Jan. 30 | Access to Capital | Development Finance Toolbox | Energy Finance | Infrastructure Finance | Rural Development | U.S. Dept. of Agriculture (USDA) | Rural Energy Programs

Northfield, OH Mulls Joining Energy Improvement District
Akron Beacon Journal | Jan. 25 | Energy Finance | Property Assessed Clean Energy (PACE) | Revolving Loan Funds (RLFs) | Tax Credits

DOE Launches $10M Prize to Accelerate Solar in Underrepresented Communities
Energy.gov | Jan. 23 | Community Development | Energy Finance | Social Finance

Commissioners Give Final OK to Use ARPA Funds for Shiloh, OH Water Projects
Mansfield News Journal | Jan. 20 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Council to Vote on Helping with DoubleTree Hotel's Bank Debt
The Vindicator | Jan. 19 | Energy Finance | Property Assessed Clean Energy (PACE)

Biden Administration Paying Americans Thousands to Upgrade Their Homes
Yahoo! Finance | Jan. 18 | Energy Finance | Green Finance | Incentives | Infrastructure Finance | Tax Credits

Pooler, GA Receiving $8M for Infrastructure Improvements
Savannah Now | Jan. 13 | Access to Capital | Infrastructure Finance | Legislative | Water Finance | Transportation | Water Finance | Legislative Activities

Terra Global Receives $640M to Accelerate Climate Finance for Nature-Based Solutions
Yahoo! Finance | Jan. 11 | Agriculture Finance | Energy Finance | Infrastructure Finance | Rural Development

$10.6M PACE Construction Loan for Multifamily Project in Suburban Chicago, IL
REBusiness Online | Jan. 10 | Energy Finance | Property Assessed Clean Energy (PACE)

‘Groundbreaking' Report Shows Promise of Greener Jobs for California Fossil Fuel Workers
EcoWatch | Jan. 8 | Economic Development | Energy Finance | Green Finance | Rural Development



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

  • 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
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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