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CDFA Energy & Water Finance Update - December 18, 2018

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CDFA Energy and Water Finance Newsletter
December 18, 2018
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Energy & Water Finance Update

Features

Can Green Banks Scale Clean Energy?
Connecticut created the first such bank in the United States in 2011. Formed as a quasi-public agency, it was tasked with making clean energy more affordable and accessible. In 2014, New York created a green bank using a different model—a state-sponsored specialized financial entity with a $1 billion capitalization.

USDA to Invest $1.2B to Improve Water Infrastructure in 46 States
The agency, through the Water and Waste Disposal Loan and Grant program, is offering financing to 234 water and environmental infrastructure projects. The financing will help provide drinking water, stormwater drainage and waste disposal systems to cater to rural communities that have 10,000 or fewer residents.

Greenworks Lending Completes Second Rated Securitization of C-PACE Assets
Greenworks Lending, a specialty finance company dedicated to Commercial Property Assessed Clean Energy (C-PACE) has closed its second rated C-PACE-only asset securitization. The securitization arranged by Guggenheim Securities with Nuveen Private Markets as the lead investor, will net proceeds of $150 million.

Cities Need to Take the Lead on Climate, New Report Says
The transition to a low-carbon economy won't be cheap. Lowering the carbon cost of energy — say, by switching to solar power — would cost about $2.4 trillion a year for the next 20 years. Given, however, that economists have pegged the cost of inaction on climate change at about $4 trillion a year, the upfront costs of investing seem more palatable.

New CO "Green Bank" to Spur Clean-Energy Investments
The energy office has formed the nonprofit Colorado Clean Energy Fund, which will team up with the Coalition for Green Capital and other organizations. The coalition works nationally and internationally to increase investment in renewable-energy and energy-efficient projects.

San Diego, CA Receives $614M WIFIA Loan
With EPA's WIFIA loan, the City of San Diego will construct a new advanced facility to produce 30 million gallons of high-quality drinking water per day. This additional drinking water supply will save the city money through reduced imported water costs and will provide a reliable and sustainable water supply for future generations.

Energy Storage Industry Pushes for Clarity on Tax Credit Eligibility
Clarifying that energy storage projects may utilize the ITC "would provide greater certainty to investors and businesses," ESA and other groups said. The two bills in Congress, they argue, "would allow a diversity of U.S. companies to better obtain financing, scale, create jobs, and become more competitive internationally in the fast-growing global storage market."

PACE Used for $3.3M Downtown Columbus, OH Tower
In this case, PNC Plaza's owner and building manager worked with an energy services company to create a bundle of projects that would improve the building's energy efficiency and fit within the definition of "special energy improvement projects." The project included energy-efficient roofing, air controls and lighting controls.

Upcoming Events

CDFA - PFM Capital Markets Webinar Series - Effects of the Tax Cuts and Jobs Act One Year Later
January 10, 2019 - 2:00 - 3:30 PM Eastern
The Tax Cuts and Jobs Act of 2017 was enacted one year ago this month, and we'll spend some time looking back what we've learned in that time. Our panel will explore the preservation of Private Activity Bonds, changes in the corporate tax rate and its effects, evaluate volume and the types of bonds most often used, and consider the effects of the elimination of advance refundings. We'll discuss options that issuers have for more flexible redemption options and strategies that have emerged to work around the absence of refundings. This webinar will feature the pros and cons and the questions that still remain twelve months into the new tax law.

Fundamentals of Economic Development Finance WebCourse
Energy Finance News

Batteries Bolster Solar in a First for MN
Finance & Commerce | Dec. 4 | Energy Finance | Green Finance

Proposed HI Biofuel Plant Faces $100M ITC Deadline
Honolulu Civil Beat | Nov. 26 | Energy Finance | Tax Credits



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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