Nearly $256 million in Commercial Property Assessed Clean Energy (PACE) financing recently closed and went to pay off construction loans at the Four Seasons Private Residences in San Francisco, CA. It's the largest PACE financing amount ever, according to lender Counterpointe Sustainable Real Estate.

NineDot Energy, a New York developer of community-scale clean energy projects, closed a new $25 million revolving credit debt facility provided by NY Green Bank, a division of the New York State Energy Research and Development Authority. NineDot is expected to use the proceeds of this revolving credit facility to finance 14 battery storage projects and the company expects that number to grow to about 40 projects or more, each up to 5 MW.

CDFA's CEO, Toby Rittner, was interviewed by Politico about the Greenhouse Gas Reduction Fund and the national coalition that CDFA is building to apply for a grant under the Clean Communities Investment Accelerator competition.

Members of Connecticut's congressional delegation announced that the state will receive $6.5 million from the U.S. Department of Energy (DOE) Grid Resilience grant program, funded by the Bipartisan Infrastructure Law. This funding will be used to help Connecticut meet its zero carbon electric sector goal, improve system reliability and resilience in a range of weather and storm conditions, and attract, train, and retain a skilled and local workforce.

The U.S. Environmental Protection Agency (EPA) launched two grant competitions for $20 billion under the historic $27 billion Greenhouse Gas Reduction Fund, an Inflation Reduction Act program. Together these competitive grant opportunities will mobilize private capital into clean technology projects to create good-paying jobs and lower energy costs for American families, especially in low-income and disadvantaged communities.

The Bureau of Land Management (BLM) announced a $3.5 million partnership with the U.S. Department of Energy to advance renewable energy research and new technologies on public lands. Using funding provided as part of the Inflation Reduction Act, the BLM will leverage NREL's research and technical expertise to support environmentally-sound public land renewable energy development.  

The U.S. Department of Energy (DOE) announced 16 projects across 14 states are set to receive $23.4 million to provide locally-tailored technical assistance and enhanced stakeholder engagement around carbon management technologies. The projects aim to connect carbon management developers with local communities to foster collaboration and education toward the advancement of commercial deployment of carbon capture, transport, and storage technologies.

Gov. Gretchen Whitmer signed a series of bills that could move Michigan toward carbon neutrality while targeting high energy costs. The bills include measures removing requirements that state environmental regulations be no stricter than federal rules, axing a sunset clause on the Michigan Energy Assistance Program, expanding eligibility for businesses to receive clean energy subsidies, and cutting red tape for solar energy developments and local governments.

CDFA Food Systems Finance Webinar Series: Investment Tools & Food Systems
August 29, 2023 - 2:00 PM - 3:30 PM Eastern

CDFA // BNY Mellon Development Finance Webcast Series: Best Practices and Strategies for Housing Finance
September 19, 2023 - 2:00 PM - 3:00 PM Eastern

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Sovereignty and Indigenous definitions of wealth make up the core values on which Natives have built their economic and financial power. Yet, there is still the issue of economic invisibility for Native Peoples, and one of the ways to combat this is through investing in these communities with catalytic capital. This will allow Indigenous Peoples in the United States to hold onto autonomy with their finances and economies, while also emphasizing non-extractive investing. "Catalytic Capital +" is a term created for this report to describe the creative ways in which catalytic capital has brought financial success to Native communities through varied methods and factors. 

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