Clean Energy Financing Arrangements

NY Green Bank has issued an updated Request for Applications (RFP) No. 1 (Version 5.0) for transactions that facilitate the financing of clean energy projects in New York State. This revision clarifies the application and evaluation process and details the $272.65 million in funds awarded to NYGB as a subrecipient under the U.S. Environmental Protection Agency's National Clean Investment Fund program. Investments financed with these funds must be a "Qualified Project" and comply with Federal Compliance Requirements. NYGB seeks proposals from private sector financial institutions, capital providers, and industry participants such as developers and energy service companies. Proposals can be submitted individually or as part of a team. The RFP also clarifies that NYGB aims to fill financing gaps to encourage private capital investment and may consider potential cost increases due to federal requirements when determining transaction pricing.