The Coalition for Green Capital is Open for Business Proposals as First U.S. National Green Bank

With $5 billion to invest in public-private partnerships, CGC and its network are constructing a clean power platform to guarantee a healthier and better future for all Americans

Today, the Coalition for Green Capital (CGC) announced that the first U.S. national green bank is open for business proposals. CGC is beginning direct and indirect investing through a national network of state and local green banks to accelerate clean power projects in every community, create jobs, reduce emissions, and improve the quality of life for all Americans.

Today, CGC also announced its new senior management team and released its 2023 annual report, showing a record-breaking $10.6 billion invested in 2023, which is a $6 billion increase from 2022. Of the $10.6 billion, consortium partners contributed $5.2 billion of their own capital, joining that with $5.4 billion in private capital. Since 2011, cumulative public-private investment caused by green banks and partners is now at $25.4 billion, up from the $14.8 billion reported in CGC’s 2022 annual report.

Even before CGC secured the capital from the Greenhouse Gas Reduction Fund (GGRF), the American Green Bank Consortium (AGBC), a membership organization for green banks, community lenders, capital providers, developers, and other clean energy supporters, has consistently demonstrated the power of collaboration and the effectiveness of public-private investing. CGC expects to use its award to cause $21.1 billion in cumulative private-public investing in clean power projects within the first year of receiving funds.

CGC has already assembled an experienced team ready to build the clean power platform for every community. The organization plans to double in size by the end of the year.

Chief Network Officer Stephen Brown has over 20 years of green finance, project development, policy, and stakeholder engagement experience. During that time, he was the Founder and CEO of the Clean Energy Fund of Texas, a regional green bank created to mitigate energy poverty and insecurity. As the Chief Network Officer (CNO), Stephen manages the social capital of the national green bank by connecting it to members of the consortium, developing new consortium members in green finance deserts, and establishing relationships with community groups. 

Chief Impact Officer Jessica “Jessie” Buendia has over 20 years of experience in the public sector, nonprofit, and philanthropic sectors designing, implementing, and investing in climate equity and environmental justice programs. Before joining CGC, Jessie was Vice President of Sustainability at Dream.Org, a national nonprofit organization focused on building an inclusive, green economy. At CGC, she leads the Impact Office which is focused on maximizing the delivery of affordable, clean power to all communities in the United States per invested dollar.

Chief Operating & Compliance Officer Jeff Diehl is responsible for building out the technology platforms and processes to deliver efficiencies and support CGC’s investments in an equitable clean energy future. Jeff brings over 40 years of financial institution experience, including a transformative role as the CEO of Rhode Island Infrastructure Bank.

Chief Capital Officer & Head of Investments Alfred Griffin is responsible for establishing investment strategy and policies, investment origination, execution, and portfolio management, and capital formation activities to facilitate the mobilization of third-party capital into CGC investment activities.  Alfred previously served as President of NY Green Bank and Senior Managing Director and Head of Credit at Generate Capital. Alfred received BA and MBA degrees from the University of North Carolina at Chapel Hill.

Chief Investment Officer Michael Hoffman has management responsibilities for all investment activities, including direct and network-related investment activities, and provides senior leadership for investment origination and scaling of pipeline and investment portfolio. Michael’s experience includes roles as Senior Managing Director at The Blackstone Group and as co-head of Riverstone’s renewable energy funds.  Michael received a BA and an MA from Northwestern University and an MBA from Harvard Business School. 

Chief Administration & Development Officer Eli Hopson has over twenty years of experience in clean energy law, policy, and finance, most recently as the inaugural CEO of the DC Green Bank before coming to CGC. At CGC he leads fundraising and partnerships with impact investors, and our legal, strategy, and people teams. Eli received a B.S. from MIT and a JD from Georgetown.

Chief Executive Officer Reed Hundt is co-founder, former chairman, and CEO of CGC. He has previously served as chairman of the Federal Communications Commission (FCC), partner at an international law firm, and professor at Yale Law School and the Yale School of Management.

Chief Financial Officer Sanjeev Kumar is the CFO responsible for all financial operations of the company and supporting capital formation with financial and network partners. Sanjeev has over 25 years of experience in the renewable industry and has raised several billion dollars and has done 2 successful IPOs (Enphase Energy and Terraform Power).

Chief of Staff Daniela Nyiri has an MPP from Michigan State University and has nearly a decade of experience in advocacy and electoral campaigns, including her work with the Progress Turnout Project and helping elect Congresswoman Haley Stevens. Before joining CGC, she built the greenbankmovement.org and collaborated with organizations like Dream.Org to expand their green bank policy platform. In her role, Daniela will play a pivotal part in supporting the organization’s growth and leading CGC’s overall communication strategy.

General Counsel & Chief Strategy Officer David Pettit is a seasoned policy and legal expert with 15 years of experience in the clean energy sector. He began his legal career at Latham & Watkins, and prior to his current role at CGC, he served as Assistant General Counsel at Xcel Energy. As General Counsel and Chief Strategy Officer at CGC, he leads efforts to expand programs and partnerships, driving innovative investment strategies that align with climate goals and benefit disadvantaged communities.

CGC’s Chief Executive Officer Reed Hundt said, “At long last, our vision is officially a reality. The country’s first national green bank is open for business. Today triggers the process by which the EPA provides us funding to build our staff, make investments, and create a network of green investors in every state. We already have 23 employees signed, we will double that number by the end of the year, and we have more than $10 billion dollars of projects in our pipeline. It’s time for public-private investment to join up with tax credits, and U.S. Department of Energy loans as the three ways this administration will win the battle against catastrophic climate change and fight for social justice in every American community.”

Chairman of the CGC Board, Bryan Garcia, President and Chief Executive Officer of Connecticut Green Bank, said, “On behalf of the Board of Directors of the Coalition for Green Capital, we want to thank the EPA for its methodical, comprehensive, and extensive process resulting in the launch of the nation’s green bank. There is no time to waste in working with our green bank network to mobilize private investment across this country, especially in underinvested communities, in projects that reduce greenhouse gas emissions and air pollution and create meaningful benefits – reducing energy costs for families, creating jobs in our communities, improving public health, and growing the green economy.”