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CDFA Energy & Water Finance Update - June 16, 2020

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CDFA Energy and Water Finance Newsletter
June 16, 2020
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Energy & Water Finance Update

Features

$50M Venture Fund for Minority and Women-Operated Sustainability Businesses
GameAbove Capital is a new $50 million private venture fund focused on minority and women-operated businesses engaged in sustainability-related products and services. This gap-closing fund is being launched in part to provide further stability for companies during these uncertain times due to the impacts of the coronavirus and to add further value to enterprises successfully engaged in environmental solutions and sustainability.

Future of Renewables Remains Strong Despite Slower Deployment During Pandemic
Despite the economic slowdown of the past few months affecting construction, renewables are forecasted to account for the largest portion of new electricity generating capacity in the U.S. this year.

DOE Announces $11B in Energy Cost-Savings from Better Buildings Initiative Partners
The U.S. Department of Energy (DOE) has announced nearly $11 billion in energy-cost savings by more than 950 public and private sector organizations in DOE's Better Buildings Initiative. To date, partners have saved nearly 1.8 quadrillion British thermal units of energy, which is equivalent to the electricity consumption of 27 million homes in America over one year.

New Report: U.S. Cities Could Generate Hundreds of Times More Solar
While applauding the rooftop solar progress of dozens of cities, the "Shining Cities 2020" report from Environment Texas offers policy options for further progress - including the adoption of property-assessed clean energy (PACE) financing.

USDA Invests $281M in Rural Water and Wastewater Infrastructure in 36 States, Puerto Rico
The USDA has announced that the department is investing $281 million in 106 projects to improve water and wastewater infrastructure in rural communities in 36 states and Puerto Rico. These funds come through the Water and Waste Disposal Loan and Grant program and can be used for drinking water, stormwater drainage, and waste disposal systems.

Major Banks Announce Policies Encouraging Renewables
Major banks such as Citigroup and Barclays have announced policies limiting how they do business with companies that rely on coal, including electric utilities, to promote renewable energy sources. Many are shifting their focus toward metrics on energy generation rather than revenue in order to have a clearer understanding of companies' share in renewables.

Water Groups Propose New Fed Program, Return of Advance Refunding
Water sector advocacy groups say water agencies will face cash-flow challenges over the next few years due to the coronavirus and want for federal relief through advance refunding and federal lending programs.

Upcoming Events
CDFA Virtual Summer School

CDFA Federal Financing Webinar Series: Recovery Resources from the USDA
Friday, June 19, 2020 - 1:00 - 3:00 PM Eastern
During this webinar, experts from multiple USDA offices will dive into how the department has tailored its many financing programs to assist with the recovery while noting what we can learn from the pandemic to better prepare rural America for tomorrow.

CDFA-Bricker PACE Webinar Series: Focusing on Sustainability Using PACE
Tuesday, July 14, 2020 - 11:00 AM - 1:00 PM Eastern
This webinar will take a look at the use of PACE in the context of green and sustainably goals and metrics. How will PACE fit into a community's effort to drive a more sustainable economy while pushing economic development goals and objectives? How can PACE be a driver of green principles and strategies to make a community more environmentally friendly? Join industry leaders for a discussion that answers these questions and more.

Energy Finance News

Massachusetts Mixed-Income Housing Development Focused on Energy Efficiency
Housing Finance | Jun. 12 | Community Development | Energy Finance | Green Finance | Housing Finance | Opportunity Zones | Tax Credits | Tax Increment Finance (TIF) | Case Studies | Case Studies | Case Studies | Low Income Housing Tax Credits (LIHTCs) | Case Studies

Ohio Energy Loan Fund Now Accepting Applications
Ohio Development Services Agency | Jun. 11 | Access to Capital | Energy Finance | Green Finance | State Finance Program | General Loan Programs | Energy Efficiency Programs | State Green Finance Programs

Leading PACE Provider Passes $1B Investment Milestone in California
PR Newswire | Jun. 11 | Access to Capital | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE) | Resiliency | Property Assessed Clean Energy Bonds (PACE)

Ogden, UT Launches New Energy Savings Program
Standard Examiner | Jun. 10 | Energy Finance | Green Finance | Resiliency | U.S. Dept. of Energy (DOE) | Case Studies | State Energy Finance Programs | State Green Finance Programs

Voters Approve $18M Bond Issue for Water, Sewer Projects in Moberly, MO
Moberly Monitor-Index | Jun. 10 | Access to Capital | Bond Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Urban Development | Water Finance | Revolving Loan Funds (RLFs) | Water Finance | Sewage & Waste | State Revolving Fund | Stormwater

Rural Minnesota Energy Board Adopts PACE
Albert Lea Tribune | Jun. 9 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE) | Resiliency | Rural Development | State Finance Program | Property Assessed Clean Energy Bonds (PACE)

Solar Alliance to Build Solar Projects on Kentucky, Tennessee Farms
Globe Newswire | Jun. 9 | Agriculture Finance | Energy Finance | Federal | Food Systems Finance | Rural Development | U.S. Dept. of Agriculture (USDA) | Case Studies | Rural Energy Program | USDA Rural Energy for America Program Grants (REAP Grants) | USDA Rural Energy for America Program Guaranteed Loan Program (REAP Loans)

How Solar Projects Can Benefit from Using Green Bonds
PV Magazine | Jun. 8 | Bond Finance | Energy Finance | Green Finance | Resiliency | Green Bonds | Green Bonds

PACE Program Adds to Toolbox in Norfolk, NE
Norfolk Daily News | Jun. 2 | Energy Finance | Property Assessed Clean Energy (PACE) | State Finance Program

Treasury, IRS Use Tax Credits to Aid Renewable Energy Projects
Kallanish Energy | Jun. 1 | Energy Finance | Federal | Green Finance | Infrastructure Finance | Resiliency | Tax Credits | U.S. Dept. of Treasury | Renewable Energy Production Tax Credit (PTC) | Renewable Energy Investment Tax Credit (ITC)

Kentucky Grants $5M to Fund Water and Sewer Projects
The Lane Report | May. 29 | Infrastructure Finance | Water Finance | Water Finance

EPA Approves $196M WIFIA Loan for Wastewater Project in Chino, CA
Engineering News Record | May. 29 | Infrastructure Finance | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | Sewage & Waste | WIFIA | Water Infrastructure Finance and Innovation Act (WIFIA)

European Union Fights COVID Recession with Green Investments
Forbes | May. 27 | Disaster Recovery & Relief | Energy Finance | Green Finance | Infrastructure Finance | International | Resiliency | COVID-19

How Public Agencies Can Use Green Bonds to Finance Projects
JD Supra | May. 22 | Bond Finance | Energy Finance | Green Finance | Infrastructure Finance | Resiliency | Water Finance | Green Bonds | Green Bonds | Green Stormwater Infrastructure | Water Finance | Sewage & Waste | Stormwater

$14M Goal Met in Plan to Transform Mobile, AL Historic Barton Academy School Building
AL.com | May. 22 | Access to Capital | Energy Finance | Historic Preservation | Social Finance | State Finance Program | Tax Credits | State Energy Finance Programs | Energy Efficiency Programs | Education | Federal Historic Rehab Tax Credits | State Historic Tax Credits | Federal New Markets Tax Credits (NMTCs)

Alternative Fuel Tax Credit Extended Retroactively
LP Gas | May. 22 | Energy Finance | Tax Credits

$3.2M Investment for Energy Efficiency Upgrades in Coffee County, TN
Manchester Times | May. 21 | Bond Finance | Energy Finance | Infrastructure Finance | Water Finance | Case Studies | Water Finance

Treasury Announces Intention to Modify Continuity Safe Harbor for Renewable Energy Production Tax Credit, Investment Tax Credit
Novogradac | May. 21 | Energy Finance | Federal | Tax Credits | U.S. Dept. of Treasury | Renewable Energy Production Tax Credit (PTC) | Renewable Energy Investment Tax Credit (ITC)

Why (and How) COVID has Impacted the Solar Finance Market
Green Tech Media | May. 20 | Access to Capital | Energy Finance | Green Finance | Resiliency

Commissioners Endorse $1.2M TIF Request
Princeton Daily | May. 20 | Tax Increment Finance (TIF) | Water Finance

Richmond, VA Pacing Itself on C-PACE Loans in Light of State Program
Richmond Bizsense | May. 20 | Energy Finance | Local Finance Program | Property Assessed Clean Energy (PACE) | State Finance Program

New $2.4M Solar Plant Planned for Luther College in Iowa
Decorah News | May. 19 | Energy Finance | Public-Private Partnership (P3) Financing | Resiliency | Social Finance | Case Studies | Case Studies | Education


Highlights from the Online Resource Database

CDFA–Bricker PACE Webinar Series: PACE Program Efficiency - Managing An Effective PACE Program
Development Finance Toolbox | Energy Finance | Property Assessed Clean Energy (PACE)
This is the second webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE Program Efficiency - Managing An Effective PACE Program. Speakers included: Chris Jones with Bricker & Eckler LLP, Josh Campbell with Missouri Energy Initiative, Jeremy Druhot with Columbus-Franklin County Finance Authority, Colin Kalvas with Bricker & Eckler LLP, Jennifer Kuzma with Northeast Ohio Advanced Energy District, Jason Stringer with Slipstream / PACE Wisconsin, and Jason Tiemeier with Bricker & Eckler LLP.


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