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CDFA Energy Finance Update - May 7, 2024

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CDFA Energy Finance Newsletter
May 7, 2024
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Energy Finance Update

Features

Join CDFA for the Return of the Revolving Loan Fund WebCourse Week!
Revolving Loan Fund WebCourse Week is returning with the intro level on May 13-14 followed by the advanced level on May 15-16. Register for one or both of these courses to learn from experts about developing, implementing, and managing efficient and impactful revolving loan fund programs.

More Than $26M to 37 State, Local, & Tribal Governments to Support Clean Energy Projects
The U.S. Department of Energy (DOE) announced more than $26.9 million to nine states, 27 local governments, and one tribe through the Energy Efficiency and Conservation Block Grant (EECBG) Program. Funds will be deployed to advance crucial clean energy and infrastructure upgrades by state governments, local governments, and Tribes to reduce energy use, curb fossil fuel emissions, and improve energy efficiency.

Massachusetts Community Climate Bank Launches First Consumer Loan Product
Governor Maura Healey announced that the Massachusetts Community Climate Bank (MCCB) has launched a new $20 million program, the Energy Saver Home Loan Program, to help low- and moderate-income homeowners make clean energy improvements to their homes. The MCCB is the first green bank in the United States to focus on decarbonizing affordable housing, and the Energy Saver Home Loan Program is the MCCB's first consumer product.

PACE Financing Tool Gains Momentum in Challenging Development Environment
Property Assessed Clean Energy (PACE) is a financing tool that provides long-term, low-cost construction financing for new and existing buildings. Rafi Golberstein, CEO of Minneapolis-based PACE Loan Group, says there are many reasons why developers like PACE financing today, but the most important is the cheaper cost of capital.

$20B in Clean Energy Financing Awaits Michigan Lenders
Newly announced awards of Inflation Reduction Act (IRA) dollars in two national programs mark a significant step toward channeling millions of dollars in clean energy financing to households, small businesses, nonprofits, and other organizations in Michigan. This funding will provide Michigan lenders the opportunity to expand green lending product offerings and increase their impact in our communities.

U.S. DOE Announces Partnership to Advance Equitable Access for Small Businesses
The Department of Energy (DOE) announced a new partnership between the Office of Energy Justice and Equity (EJE) and Lendistry to bridge the financing gap that often hinders small businesses from competing for contracts and reaching their full potential in the energy sector. The Memorandum of Agreement represents a significant step forward in advancing EJE's mission to increase equal and equitable access to opportunities for small and minority businesses.

Lone Star PACE Administers $11.3M C-PACE Financing for Downtown Houston, TX Hotel
Lone Star PACE, a leading administrator of Texas' Property Assessed Clean Energy (PACE) program, announced it facilitated an $11.3 million C-PACE loan for a 17-story, dual-branded hotel planned for Downtown Houston. Lone Star PACE worked with the project's sponsor, Neway Hospitality, an experienced hotel developer, owner, and operator with a deep track record in the Houston market, to secure the loan.

New Jersey Economic Development Authority Creates New Jersey Green Bank
The New Jersey Economic Development Authority (NJEDA) Board approved the creation of the New Jersey Green Bank (NJGB), which will make investments in the clean energy sector that will help advance the state's efforts to make an equitable transition to 100 percent clean energy. The NJGB will make investments through debt, credit enhancements, and other financial vehicles to attract private capital to enable the state to reach its climate goals.

Upcoming Events
Intro Revolving Loan Fund WebCourse

CDFA // BNY Mellon Development Finance Webcast Series: AI & Bonds
May 21, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will unravel the multifaceted dimensions of AI's role in the municipal market, potential advantages and challenges that arise from embracing AI, and its impact on development finance.

2024 CDFA Equitable Lending Learning Series: Strategic Partnerships for Sharing Financial Risk
May 28, 2024 - 1:00 PM - 3:00 PM Eastern
In this installment of the CDFA Equitable Lending Learning Series, speakers will explore how leveraging the strengths and expertise of various capital partners, technical assistance providers, and philanthropic supporters can help build successful and sustainable programs.

Energy Finance News

U.S. EPA to Release $9B Over Next Three Years for Lead Pipe Replacements
Engineering News-Record | May. 3 | Community Development | Economic Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | U.S. Dept. of Treasury CDFI Fund | U.S. Environmental Protection Agency (EPA) | Water Finance

IRS, DOE Announce $6B Allocation of Clean Energy Manufacturing, Recycling Incentives
JD Supra | May. 2 | Energy Finance | Tax Credits

How a New Innovative Financing Tool is Greening Buildings in Cities
World Bank Blogs | Apr. 29 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

Clean Energy Bank Could Help Funnel $300M to Virginia Projects
VPM | Apr. 29 | Energy Finance | Green Finance

USDA Invests $238M for Clean Energy and Domestic Biofuels
U.S. Department of Agriculture | Apr. 23 | Access to Capital | Agriculture Finance | Development Finance Toolbox | Energy Finance | Green Finance | Legislative | U.S. Dept. of Agriculture (USDA)

Spring PSD Receives Funding for Treatment Plant Upgrades in Glen Morgan, WV
WVVA | Apr. 22 | Community Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

York County, PA Approves Program to Help Fund Renewable Energy and Conservation
York Daily Record | Apr. 22 | Energy Finance | Property Assessed Clean Energy (PACE)

U.S. EPA Announces $7B in Solar For All Awards
U.S. Environmental Protection Agency | Apr. 22 | Access to Capital | Energy Finance | Green Finance | Legislative | U.S. Environmental Protection Agency (EPA) | Greenhouse Gas Reduction Fund

Two Companies Enter Historic Deal to Manufacture Solar Panels Domestically
The Cool Down | Apr. 20 | Energy Finance | Tax Credits | Renewable Energy Investment Tax Credit (ITC)

Section 45V Clean Hydrogen Production Credit Proposes Guidance
Novogradac | Apr. 18 | Energy Finance | Tax Credits

How to Take Advantage of Transferability of Tax Equity Through the Inflation Reduction Act
Thomson Reuters | Apr. 17 | Energy Finance | Internal Revenue Service (IRS) | Tax Credits

State Green Banks to Receive 'Historic' Rush of Federal Funds
Bloomberg Law | Apr. 16 | Access to Capital | Energy Finance | Green Finance | Legislative | Public-Private Partnership (P3) Financing | U.S. Environmental Protection Agency (EPA)

Once Considered Niche Financing, C-PACE Is Being Embraced by the Mainstream
propmodo | Apr. 10 | Energy Finance | Property Assessed Clean Energy (PACE) | Water Finance

SE Minnesota Getting $250K for Solar Power Projects
KIMT3 | Apr. 10 | Agriculture Finance | Community Development | Energy Finance | Rural Development

Nuvera Awarded $14M Federal Tax Credit Allocation to Expand Fuel Cell Production
Green Car Congress | Apr. 9 | Energy Finance | Green Finance | Resiliency | Tax Credits | Renewable Energy Investment Tax Credit (ITC)

New York City Announces Details of $450M Bond for Water and Sewer System
New York City Comptroller | Apr. 8 | Bond Finance | Infrastructure Finance | Water Finance



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
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  • Frost Brown Todd LLP
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  • KeyBanc Capital Markets
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  • MuniCap, Inc.
  • NW Financial Group, LLC
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  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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