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CDFA Energy Finance Update - September 7, 2021

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CDFA Energy Finance Newsletter
September 7, 2021
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Energy Finance Update

Features

Shipping Industry Proposes Levy to Speed Up Zero Carbon Future
Leading shipping associations have proposed creating a global levy on carbon emissions from ships to help speed up the industry's efforts to go greener. With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing pressure to get cleaner.

How a Colorado Coal Plant Could Become a Massive Battery for Renewable Energy
A coal-fired power plant owned by Xcel Energy in Hayden, Colorado accounts for more than half the property tax base and is a reliable source of high-paying jobs in a town with rapidly increasing housing prices. The town could soon test a new idea to meet its climate goals without losing the economic benefits of the plant. Rather than raze the building, the project would transform the power plant into a massive battery to bank electricity generated by renewable energy.

‘Solar Bond' Demand Goes Through the Roof
Investment firms are buying record amounts of 'solar bonds,' debt issued to help individuals finance rooftop solar panels to power their homes. Sales of solar bonds hit around $2 billion in the first six months of the year, roughly double levels during the same period in 2020 and 2019. The bonds are backed by bundles of loans made to homeowners for panel purchases and are being issued by a handful of financing companies that specialize in residential solar panels.

Hurricane Ida Turns Spotlight on Louisiana Power Grid Issues
Power out, high voltage lines on the ground, weeks until electricity is restored in some places: the dismal state of power in Hurricane Ida's wake is a distressingly familiar scenario for Entergy Corp., Louisiana's largest electrical utility. Entergy critic Logan Burke of the Alliance for Affordable Energy, a New Orleans group that seeks lower costs and greener energy, says the company's grid hasn't met expectations.

EPA Administrator Regan Announces $168M in Water Investments, Highlights Benefits of Bipartisan Infrastructure Deal
U.S. Environmental Protection Agency, Administrator Michael S. Regan joined Silicon Valley Clean Water Commission Chair Alicia Aguirre, and other local officials to announce Water Infrastructure Finance and Innovation Act loans totaling $168M for water system upgrades in Redwood City and Alameda County, California.

New $36M Boutique Hotel in Milwaukee, WI Gets Another Year to Begin Loan Payments
A boutique hotel to be developed in Milwaukee is getting another year to begin payment on a $4 million city loan. The $36 million development is to convert a historic former Sears store into a hotel with a second $5 million loan, an expected $13.5 million via Opportunity Zone funding, $7 million in federal and state historic preservation tax credits, $3 million in PACE financing, a $2 million private loan, and a $1.83 million deferred developer's fee.

Green Muni Bonds Are Blooming Slowly
Investors today can expect to see a plethora of gardening-related puns when reading about the blossoming green-bond market. Green bonds, fixed-income instruments whose use of proceeds are specifically linked to the undertaking of environmentally sustainable projects, have surged in size over the previous decade.

Bipartisan Infrastructure Legislation Passes Senate, Includes Carbon Capture Improvement
U.S. Senators Rob Portman (R-OH) and Michael Bennet (D-CO) announced that their bipartisan Carbon Capture Improvement Act has passed the Senate as part of the Infrastructure Investment & Jobs Act. The Carbon Capture Improvement Act makes it easier for power plants and industrial facilities to finance the purchase and installation of carbon capture, utilization, and storage equipment, as well as direct air capture projects through the use of private activity bonds.

Reps. Sherrill, Pascrell, Senator Ossoff Introduce RAISE the Roof Act
Representatives Mikie Sherill (NJ-11) and Bill Pascrell, Jr. (NJ-09) introduced the Revamping Appropriate Incentives for Solar Energy for (RAISE) the Roof Act, which clarifies and expands the solar investment tax credit (ITC) to include integrated solar roofs. This move would maximize the positive climate and economic impacts of the next generation of solar energy technology.

Upcoming Events
Intro Tax Credit Finance WebCourse

CDFA Federal Financing Webinar Series: The Federal Role in Financing Broadband
Tuesday, September 14, 2021 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, experts will discuss how federal financing tools can be used to fund 5G broadband networks.

CDFA-Bricker PACE Webinar Series: Best Practices for Marketing & Selling PACE Across All Market Sectors
Tuesday, September 29, 2021 - 2:00 PM - 4:00 PM Eastern
Now that the PACE marketplace has been "built", how does it become mainstream so that all property owners know about PACE? This workshop will explore proven methods for marketing and selling PACE to contractors, economic development agencies, commercial real estate professionals, and ultimately the property owner.

Energy Finance News

Landfill Gas Market to Reach $2.8B by 2030, Globally
Allied Market Research | Sep. 7 | Economic Development | Energy Finance | International | Resiliency

Midwestern Clean Energy Companies See Post-Pandemic Rebound
Finance-Commerce | Sep. 6 | Disaster Recovery & Relief | Economic Development | Energy Finance

Another Piece of Boston, MA's Old Industrial Waterfront is Poised to Become Lab Space
Boston Globe | Aug. 25 | Redevelopment | Urban Development | Water Finance

PNC Pledges $20B in Environmental Finance
CSR Wire | Aug. 18 | Energy Finance | Green Finance | Resiliency | Social Finance

City of Ruston, LA Breaks Ground on $22.3M Monroe Street Corridor Project
The News Star | Aug. 17 | Brownfield Financing | Community Development | Education | Energy Finance | Infrastructure Finance | U.S. Dept. of Transportation (DOT) | Transportation

CEP Renewables Develops the Largest Landfill Solar Project in North America in New Jersey
PR Newswire | Aug. 17 | Brownfield Financing | Energy Finance

Rhode Island Infrastructure Bank Approves $400K Brownfield Loan for Nexus Lofts Project
Nerej | Aug. 13 | Access to Capital | Brownfield Financing | Energy Finance | Housing Finance | Redevelopment | Revolving Loan Funds (RLFs) | Revolving Loan Funds (RLFs)

Broomfield, CO City Council Approves Allotment Contract for Windy Gap Firming Project
Times-Call | Aug. 13 | Bond Finance | Energy Finance | Water Finance

Port of Miami to Sell $1.4B in Muni Bonds
The Wall Street Journal | Aug. 12 | Bond Finance | Infrastructure Finance | Water Finance

Green City Council Approves $1.14M Energy-Saving Program
Akron Beacon Journal | Aug. 11 | Access to Capital | Energy Finance | Resiliency

Why Rural America Is Key to Climate Change Policy
Green Biz | Aug. 11 | Energy Finance | Federal | Green Finance | Resiliency | Rural Development | Water Finance

Senate Passes $1T Bipartisan Infrastructure Bill
The New York Times | Aug. 11 | Economic Development | Energy Finance | Infrastructure Finance | Legislative | Resiliency | Rural Development | Urban Development | Water Finance

Stonehill to Lend $1.25B in 2021, Up 74 Percent From Last Year
Asian Hospitality | Aug. 10 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE) | Resiliency


Highlights from the Online Resource Database

Broadband Interactive Federal Funding Guide for 2021
Access to Capital | Community Development | Disaster Recovery & Relief | Economic Development | Education Finance | Energy Finance | Green Finance | Healthcare | Housing Finance | Infrastructure Finance | Innovation Finance | Revolving Loan Funds (RLFs) | Rural Development | Social Finance | Tribal Finance | Urban Development | Water Finance
This Interactive Guide from the National Telecommunications and Information Administration (NTIA) provides an interactive, step-by-step approach for users to filter through more than 90 broadband related programs compiled from 12 federal agencies and the FCC. It highlights general information about each program, including program descriptions, important dates, contact information, and links to program websites.

ESG Disclosure in Municipal Offerings
Bond Finance | Energy Finance | Green Finance | Social Finance
This Ballard Spahr white paper describes current market standards for ESG bond labeling, verification, and disclosure, with a focus on green bonds and social bonds, best practices for primary and secondary market disclosure and post-issuance reporting, and key considerations to guide municipal issuers and their financing teams when preparing to issue ESG bonds.


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
  • BNY Mellon
  • Bricker & Eckler LLP
  • Brownfield Superfund Advisory, Inc
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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