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CDFA Energy & Water Finance Update - July 21, 2020

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CDFA Energy and Water Finance Newsletter
July 21, 2020
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Energy & Water Finance Update

Features

Dive In: Intro P3 and RLF Courses at CDFA Virtual Summer School!
Registration is still open for CDFA Virtual Summer School, including the Intro Public Private Partnership (P3) Finance Course on August 5-6 and the Intro Revolving Loan Fund (RLF) Course on August 12-13. Join us to learn about these financing approaches, which are essential for many energy and water projects.

EPA Announces $6B in New Funding for Water Infrastructure Projects
The U.S. Environmental Protection Agency announced the 2020 notice of funding availability under its Water Infrastructure Finance and Innovation Act (WIFIA) program, including funding for the new State infrastructure financing authority WIFIA (SWIFIA) program.

CDFA Announces the CDFA-Frost Brown Todd Infrastructure Finance Collaboration
The Council of Development Finance Agencies has partnered with Frost Brown Todd and its affiliate FBT Project Finance Advisors on the new CDFA Intro Infrastructure Finance WebCourse and the CDFA Finance Toolbox video series. This collaboration will focus on financial challenges and opportunities facing communities working to develop or upgrade energy, water, broadband, disaster recovery, transportation, and other services, and provide expert analyses to inform the development finance industry.

Pennsylvania Closes First C-PACE Deal, $1.5M for Efficiency Improvements
The first project in Pennsylvania to use Commercial Property-Assessed Clean Energy (C-PACE) financing will use $1.5 million to pay for energy and water efficiency upgrades in a new mixed-use development in the Kensington-Harrowgate neighborhood of Philadelphia.

$9.3M Solar Projects Accelerated by School Shutdown in West Milford, NJ
The Energy Savings Improvement Program, a lease-purchase method of financing local government energy conservation measures, has made $9.3 million available to the West Milford school district for solar installations and energy efficiency upgrades that are expected to pay for themselves by 2039.

Inaugural Green Bond Designation Completed by California-based PACE Funding Group
PACE Funding Group, LLC, a California-based specialty finance company, announced today that it completed a $ 107 million securitization of residential Property Assessed Clean Energy (PACE) assets. The "Green Bond" transaction represents the fourth asset-backed securitization completed by the Company and its first Rule 144a transaction, following its first three transactions in 2018 and 2019 for a total of $165 million.

CDFA Member Bricker & Eckler Launch Midwest PACE in Ohio, Kentucky
Bricker & Eckler LLP have acquired Ohio PACE and Energize Kentucky commercial PACE programs from The Greater Cincinnati Energy Alliance, through which the law firm has launched Midwest PACE. With the creation of Midwest PACE, commercial PACE financing stakeholders will continue to have PACE financing services available for their projects through the Ohio PACE and Energize Kentucky programs.

First Offshore Wind Project in U.S. Federal Waters Completed
Dominion Energy has successfully installed two wind turbines 27 miles off Virginia Beach, which is the first offshore wind farm to be approved by the Bureau of Ocean Energy Management (BOEM) and installed in federal waters.

$315M Hydrogen Investment Fund Due to Launch in 2020
Hydrogen has long been touted as a potential clean fuel as it only emits water vapor but it has failed to gain traction, mainly because of historically high production, transportation, and storage costs. HydrogenOne Capital - a London-based, $315 million fund - is due to launch by the end of 2020 as the world's first hydrogen-dedicated investment fund.

Georgia Power Operator Fires Up Inaugural U.S. Institutional Green Loan
Georgia Renewable Power closed the first green loan in the US institutional leveraged loan market last month, giving investors a rare chance to diversify their portfolios while meeting environmental goals. Bankers view Georgia Renewable Power as an ideal candidate to introduce the new debt instrument to the institutional market because the borrower owns two biomass-fired power plants, and there's little doubt about the proceeds going toward renewable power needs.

Upcoming Events
CDFA Virtual Summer School

CDFA-Bricker PACE Webinar Series: Policy and the Future of PACE
Tuesday, August 25, 2020 - 11:00 AM - 1:00 PM Eastern
This webinar will examine the next decade of PACE with a forward-looking view of how PACE will continue to evolve nationwide. PACE experts will explore ways in which the industry can expand PACE use to places that have yet to take advantage of this modern development finance tool. Learn how to tackle public policy hurdles and how to educate community leaders on the pros of PACE while ensuring accountability, transparency, and program effectiveness.

CDFA // BNY Mellon Development Finance Webcast Series: Investing in Childcare Facilities
Thursday, August 27, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will showcase various childcare facilities financing programs from across the country and highlight projects that have successfully utilized these tools.

Energy Finance News

House Energy and Commerce Committee Advances Five Energy Bills to Floor
Daily Energy Insider | Jul. 17 | Energy Finance | Federal | Infrastructure Finance | Legislative | Public-Private Partnership (P3) Financing | Tribal Finance | Energy Efficiency Programs

Central Ohio PACE Investments Surpass $100M
Columbus-Franklin County Finance Authority | Jul. 16 | Energy Finance | Green Finance | Local Finance Program | Property Assessed Clean Energy (PACE) | Property Assessed Clean Energy Bonds (PACE) | Local Green Finance Programs | Case Studies

How Europe's Green Pandemic Recovery Will Push the Rest of the World
Axios | Jul. 13 | Energy Finance | Green Finance | Infrastructure Finance | International | Resiliency

RI Infrastructure Bank Closes $2.5M Loan with Providence Marriott Downtown
NEREJ | Jul. 10 | Access to Capital | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE) | Resiliency | State Finance Program | Case Studies | Case Studies | Property Assessed Clean Energy Bonds (PACE) | State Green Finance Programs | Case Studies

Solar Farm Planned at Former Franklin County, OH Landfill Site
The Dispatch | Jul. 9 | Brownfield Financing | Energy Finance | Green Finance | Public-Private Partnership (P3) Financing | Case Studies | Case Studies | Case Studies

Rocky Mountain Institute Launches Center for Climate-Aligned Finance
PR Newswire | Jul. 9 | Access to Capital | Energy Finance | Green Finance | International | Resiliency

Virginia Resources Authority Lends $100M to Sustainable Water Infrastructure Program
Daily Press | Jul. 8 | Green Finance | Infrastructure Finance | Resiliency | Water Finance | Water Finance

PACE Funding Group Expands with the Missouri Clean Energy District
PR Newswire | Jul. 7 | Access to Capital | Energy Finance | Property Assessed Clean Energy (PACE) | State Finance Program | Property Assessed Clean Energy Bonds (PACE)

DOE Better Buildings Summer Webinar Series Available Online
U.S. Department of Energy | Jul. 6 | Energy Finance | Federal | Green Finance | Resiliency | Understanding Energy Finance

$100B for Rural Broadband, $70B for Clean Energy in House Infrastructure Bill
Engadget | Jul. 3 | Energy Finance | Infrastructure Finance | Legislative | Rural Development | Broadband | Transportation

What's New in Energy Efficiency Finance?
U.S. Department of Energy | Jul. 2 | Access to Capital | Bond Finance | Energy Finance | Green Finance | Infrastructure Finance | Property Assessed Clean Energy (PACE) | U.S. Dept. of Energy (DOE) | Green Bonds | Understanding Energy Finance | Energy Efficiency Programs | Property Assessed Clean Energy Bonds (PACE) | Green Bonds

Duke Energy Florida Proposes New Program, $1B Investment in Solar
PR Newswire | Jul. 1 | Energy Finance | Green Finance | Infrastructure Finance | Resiliency

Turning Brownfields into Community Benefits: New Pathways for Local Government and Renewable Energy Partnerships
JD Supra | Jun. 29 | Brownfield Financing | Energy Finance | Tax Increment Finance (TIF)

$1.7M Commitment for Science Center Energy Improvements in Toledo, OH
The Blade | Jun. 29 | Energy Finance | Local Finance Program | Property Assessed Clean Energy (PACE) | Case Studies | Property Assessed Clean Energy Bonds (PACE)

Clean Energy Advocates Say Industry Can Lead Economic Recovery
Wisconsin State Journal | Jun. 26 | Disaster Recovery & Relief | Energy Finance | Green Finance | COVID-19

Arkansas Receives $75M USDA Loan for Rural Electric Program
Talk Business & Politics | Jun. 24 | Access to Capital | Energy Finance | Federal | Infrastructure Finance | Rural Development | U.S. Dept. of Agriculture (USDA) | General Loan Programs | Case Studies | Rural Energy Program

Major LIHTC Boosts, Permanency for NMTC, Increase in HTC Percentage and Delay of ITC Phasedown in House Infrastructure Legislation
Novogradac | Jun. 23 | Access to Capital | Bond Finance | Disaster Recovery & Relief | Economic Development | Energy Finance | Green Finance | Infrastructure Finance | Legislative | Tax Credits | COVID-19

Aid for Wind and Solar Pushed by House Democrats in New Infrastructure Bill
The Washington Post | Jun. 23 | Disaster Recovery & Relief | Energy Finance | Green Finance | Legislative | COVID-19

Congress Should Act Quickly to Save Solar Industry
Pensacola News Journal | Jun. 20 | Energy Finance | Tax Credits | Renewable Energy Investment Tax Credit (ITC)

Washington Enacts C-PACER Legislation for Clean Energy and Resiliency
National Law Review | Jun. 16 | Energy Finance | Green Finance | Legislative | Property Assessed Clean Energy (PACE) | Resiliency | State Finance Program | State Energy Finance Programs | State Green Finance Programs | Programs


Highlights from the Online Resource Database

CDFA Federal Financing Webinar Series - Federal Recovery Resources from the EPA
Access to Capital | Brownfield Financing | Community Development | Energy Finance | Food Systems Finance | Green Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance
This webinar focused on COVID-19 recovery assistance through the EPA by highlighting best practices, case studies, and mitigation tools that will allow your community to be more resilient in the face of natural disasters.

CDFA–Bricker PACE Webinar Series: Focusing on Sustainability Using PACE
Development Finance Toolbox | Energy Finance | Property Assessed Clean Energy (PACE)
This is the third webinar of the 2020 CDFA-Bricker PACE Webinar Series: Focusing on Sustainability Using PACE. Speakers included: Brooke A. Mangiarelli with Bricker & Eckler LLP, Eric Alini with Counterpointe Real Estate Solutions, Mayor Ben Kessler of Bexley, Ohio, Steve Melink with Melink Corporation, and Maryrose Myrtetus with Philadelphia Energy Authority.


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

  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McCarter & English, LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor