Green Bank Network announces $50 billion investment milestone

The Green Bank Network had big announcements to make during NYC’s Climate Week!

First, the network announced that its members (Green Banks around the world) have collectively committed a cumulative $14.9 billion towards projects that are expected to mobilize a total $50 billion in public and private capital for green projects.

The Green Bank Network’s report shows that 59% of these investments went towards renewable energy projects, with 15% going towards energy efficiency and 27% towards other projects.

In addition, the Green Bank Network welcomed two new member institutions: Tata Cleantech Capital Limited (TCCL) of India, and the Energy Efficiency and Renewable Sources Fund (EERSF) of Bulgaria.

See the full announcement for more details, including these comments from the new members:

Manish Chourasia, Managing Director, Tata Cleantech Capital Limited said: “We are thrilled to join this group of green banks from around the world, to learn from their experience, and offer our own perspective and experience working to fill gaps and mobilize investment in local clean energy markets in India.”

 

Pierre Langlois, Leader of the Managing Consortium Econoler-EnEffect-Elana (EEE) of the new GBN member Energy Efficiency and Renewable Sources Fund (EERSF) said: “We are very excited to join the Green Bank Network. Green banks around the globe are demonstrating their ability to mobilize private investment into green infrastructure, and we are happy to join this group and add our significant experience, particularly related to financing energy efficiency and Renewable Energy, where we have been leading for 14 years in Bulgaria and for over 35 years internationally.”

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