Join CDFA for Our New Intro Federal Finance Course
Register for CDFA's Intro Federal Finance Course taking place on December 13-14 to learn the federal funding resources available to help advance economic development. Our panel of expert speakers will discuss how federal support tools can work in coordination with other development finance tools for programs and projects on the local level.
IECA Closes $11M in C-PACE Financing for Rockford, IL MF Conversion
The Illinois Energy Conservation Authority NFP (IECA), an Illinois tax-exempt nonprofit, announced it closed $10.9 million in financing for a C-PACE multifamily project in Rockford, Illinois. The transaction marks the second C-PACE closing in Winnebago County.
Spearmint Secures $92M Tax Equity Financing for Battery Storage Project in Texas
Battery storage developer and operator Spearmint Energy has closed a $92 million tax equity investment into a battery storage project in the ERCOT, Texas market. The investment was provided by Greenprint Capital, an investment firm specializing in renewable energy tax credit transactions. Greenprint has used the new investment tax credit for standalone energy storage to invest in the 150MW/300MWh Revolution battery energy storage system,
Nation's Largest-Ever State Investment in Renewable Energy is Moving Forward in New York
Governor Kathy Hochul announced the largest state investment in renewable energy in United States history, demonstrating New York's leadership in advancing the clean energy transition. The conditional awards include three offshore wind and 22 land-based renewable energy projects totaling 6.4 gigawatts of clean energy, enough to power 2.6 million New York homes and deliver approximately 12 percent of New York's electricity needs once completed.
California Berkeley Hotel Project Scores Sector's Largest C-PACE Deal of 2023
North Bridge closed a $50 million C-PACE refinancing for the Residence Inn Berkeley, a 331-key, full-service hotel in Berkeley. This closing represents the largest C-PACE transaction for the hospitality industry in 2023 and the fourth-largest C-PACE hotel financing to date.
Connecticut Green Bank Looks to Expand Solar MAP Program
Affordable multifamily properties can now access the benefits of solar for their residents, thanks to Connecticut's expansion of the definition of a residential customer as it relates to solar energy generation through Public Act No. 21-48. To better serve these families, the Connecticut Green Bank plans to expand its Solar Marketplace Assistance Program to help fill the market gap and usher in more projects in this sector.
U.S. DOE Announces $30M in Clean Energy Funds for State, Local, and Tribal Governments
The U.S. Department of Energy's (DOE) Office of State and Community Energy Programs awarded $30 million in clean energy funding through the Energy Efficiency and Conservation Block Grant Program to 28 state, local, and Tribal governments. Through the Bipartisan Infrastructure Law, DOE awarded $21.87 million in formula grant funding to eight states and eight local governments and selected 12 recipients for $8.8 million in competitive grant funding.
Evergrow Announces First Funding of a Clean Energy Tax Credit Transfer Following IRA
Evergrow, the clean energy finance company, today announced that it has successfully completed the funding of a clean energy tax credit transfer on its platform, the first of its kind to be announced. This announcement follows the recent publication of tax credit transfer guidance by the IRS and the recent announcement by Bank of America of its commitment to orchestrate the transfer of $580 million of clean energy tax credits.
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