The Clean Energy Future Blog
By danielanyiri@coalitionforgreencapital.com
A Transformative Opportunity for American Communities to Accelerate Public-Private Partnership Plans, Create Jobs, and Lower Energy Costs
Washington, D.C. — Today, the Coalition for Green Capital (CGC) announced a request for proposals (RFP) for its Municipal Investment Fund (MIF), which seeks to select a cohort of up to 10 U.S. communities to become the focus of concentrated investing and local community and economic development, and be the recipients of up to $2 million in grants. To support this work, CGC has awarded ICLEI-Local Governments for Sustainability USA (ICLEI USA) a subgrant of $66.5 million to provide market-building, predevelopment, and technical support to communities pursuing the fund. CGC and ICLEI USA will award $50 million in market-building grants and $10 million in pre-development grants to support communities.
The 10 communities that join the inaugural MIF cohort will focus on implementing public-private partnership plans and developing and financing projects that qualify under the National Clean Investment Fund (NCIF). These projects may include distributed energy generation and storage, zero-emissions transportation, and net-zero buildings. NCIF projects reduce emissions of greenhouse gases and other air pollutants; deliver benefits of greenhouse gas- and air pollution-reducing projects to American communities, particularly low-income and disadvantaged communities; and mobilize financing and private capital to stimulate additional deployment of greenhouse gas- and air pollution-reducing projects.
MIF participants will receive up to $2 million in predevelopment and market-building grants, along with becoming the focus of CGC’s direct investment opportunities of $50 million and above and co-investment in projects ranging from $10 million to $50 million, and benefit from technical assistance support from CGC staff, its network, and ICLEI USA. The inaugural MIF cohort may include local governments, Tribes, and their partner not-for-profit organizations serving populations between 10,000-750,000, with at least one low-income or disadvantaged community. CGC plans to select up to 10 communities annually for the next decade, ensuring ongoing support for transformative investment and local economic development.
In partnership, CGC and ICLEI USA will identify a network of qualified communities that can submit plans to the MIF through an initial proposal process. Interested communities will be asked to submit a short proposal to ICLEI USA by February 5, 2025. CGC and ICLEI USA will select up to two communities from every state, as well as up to four Tribes, the District of Columbia, or local governments in federal territories who will receive up to $250,000 in market-building grants—totaling $26 million in funding—for activities necessary to develop public-private partnership plans that can finance NCIF-qualified projects. All 100+ participating communities will benefit from market-building grants, planning, and ICLEI USA technical support throughout the request for proposal (RFP) submission process. Once the 100+ qualified communities have been selected to receive market-building dollars, the deadline for the qualified communities to submit plans to CGC will be in June 2025, and the selected inaugural MIFcohort will be announced in August 2025.
ICLEI USA, headquartered in Denver, Colorado, has operated for 32 years as the most extensive and first local government network dedicated to sustainability and climate action. ICLEI USA has worked with over 1,200 network cities, towns, counties, and Tribal nations in all 50 states. ICLEI USA pioneered the standards for local government greenhouse gas management, including in the states with the highest emissions, to create jobs, reduce emissions, and empower local solutions by providing technical assistance, strategic planning, and federal grant support. Through the CGC and ICLEI USA partnership, the 100+ selected communities will gain access to ICLEI USA’s resources and expertise to harness the cost-saving benefits of clean energy for American communities by enhancing their capacity to pursue public-private partnerships.
CGC and ICLEI USA held a webinar on January 6, 2025, to discuss the RFP. Application materials can be found at the ICLEI-USA website.
CGC’s Chief Executive Officer Richard Kauffman said, “This fund is a critical part of our broader mission to use public-private investments to accelerate cheap clean power across the country by, for, and with communities. Together, we will help Americans save money and benefit from clean air and water.”
CGC’s Chief Impact Officer Jessie Buendia said, “The Municipal Investment Fund isn’t just an investment in clean energy—it’s an investment in the people and communities that will lead this transition. By providing financial support, technical assistance, and a network of partners, we’re empowering local communities to implement solutions that create jobs, improve quality of life, and make a lasting environmental impact.”
ICLEI USA Executive Director Saharnaz Mirzazad said, “ICLEI USA has spent decades fostering an extensive network of cities, towns, counties, and Tribal nations committed to climate action planning and emissions management. We are thrilled to help localities position themselves as strong and reliable partners in mobilizing capital towards clean energy projects, bridging the gap between planning and implementing climate action.”
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ABOUT COALITION FOR GREEN CAPITAL
The Coalition for Green Capital (CGC), doing business as the American Green Bank Consortium, is a 501(c)(3) chartered specifically to reduce greenhouse gas emissions and other forms of air pollution and redress climate and energy-related environmental injustice. Green banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency, and other decarbonization technologies. For over a decade, the Coalition for Green Capital has led the Green Bank movement, working at the federal, state, and local levels in the U.S. and countries around the world. For more information, visit: https://coalitionforgreencapital.com.
ABOUT ICLEI- LOCAL GOVERNMENTS FOR SUSTAINABILITY USA
ICLEI – Local Governments for Sustainability USA (ICLEI USA), headquartered in Denver, Colorado, has operated for 32 years as the largest and first local government network dedicated to sustainability and climate action. ICLEI USA has worked with over 1,200 network cities, towns, counties, and Tribal nations in all 50 states.
ICLEI USA pioneered local government greenhouse gas management standards, including in the states with the highest emissions, to create jobs, reduce emissions, and empower local solutions by providing technical assistance, strategic planning, and federal grant support. Our Members and team of experts work together through peer exchange, partnerships, and capacity building to create systemic change for urban sustainability. Learn more: https://icleiusa.org/
By danielanyiri@coalitionforgreencapital.com
Kauffman Is a Global Leader in Clean Energy Finance
Washington, D.C.— The Board of Directors of the Coalition for Green Capital (CGC) released the following statement:
Today, CGC is pleased to announce the appointment of Richard Kauffman as its next Chief Executive Officer. With his Wall Street experience, his service in federal and state governments, including his leadership in founding America’s largest green bank, and his service on CGC’s Board of Directors, Mr. Kauffman is highly qualified to take this groundbreaking investment to the next level. This also marks the transition from Mr. Reed Hundt, whose vision and perseverance led to the launch of the country’s first national green bank, and we thank him for his leadership.
Chairman of the Board of the Coalition for Green Capital Bryan Garcia said, “In the midst of an extensive search process meeting and interviewing many highly qualified, diverse candidates, we realized that the ideal candidate was already in-house. Richard possesses decades of unparalleled leadership across both the public and private sector, where he has been an investor in and financier of clean energy technologies and projects from innovation to infrastructure. Among his many successful endeavors, he founded the largest state green bank in New York and will now lead our national green bank. The CGC board is incredibly grateful to the vision, determination, and leadership of Reed Hundt in creating the nation’s green bank.”
Former Coalition for Green Capital CEO Reed Hundt said, “Richard Kauffman has long been a dear friend, supporter, coach and inspiration to me. I know well that his vast experience as a private sector investor, regulatory reformer, and entrepreneurial manager make him not only the CEO that the Coalition for Green Capital and its network needs but also the leader in public-private capital formation that the whole nation’s energy sector needs to meet burgeoning demand with cheap, clean power. I applaud and thank Richard for agreeing to become CEO of the great CGC team and I congratulate the board for this wise decision.”
Coalition for Green Capital Richard CEO Kauffman said, “The Coalition for Green Capital has more than a decade-long track record in mobilizing public and private sector capital to fund clean energy projects that would otherwise not be financed by private sector capital alone, despite being credit-worthy. This organization has the experience and institutional knowledge to scale its impact and has the capacity to do so through the $5 billion GGRF grant.”
Richard L. Kauffman serves as Chief Executive Officer of the Coalition for Green Capital (CGC), where he leads efforts to mobilize public and private capital to build an affordable clean power platform for everyone. A longstanding member of CGC’s Board of Directors, Richard combines extensive private sector investment acumen with a track record of public-sector leadership focused on clean energy finance, utility reform, and regulatory modernization.
Richard’s career began in the private sector, where he was a leader at some of the world’s premier financial institutions. As a partner at Goldman Sachs, Richard chaired the Global Financing Group. At Morgan Stanley, he served as Vice Chairman of the Institutional Securities business and co-Head of its Banking Department. Later, he served as CEO of Good Energies, Inc., an investor in clean energy and energy efficient technology. He is currently Chair of Generate Capital PBC, a leading financier, owner, and operator of sustainable infrastructure.
In the public sector, Richard served as Chair of Energy and Finance for the State of New York, where he oversaw the Reforming the Energy Vision (REV) initiative. REV modernized utility regulations, shifted incentives toward performance outcomes and enabled integration of cleaner, more reliable energy into the grid. These reforms not only delivered environmental benefits but also reduced costs for New Yorkers. He also spearheaded the creation of the NY Green Bank, the nation’s largest state green bank, which has mobilized more than $8 billion for clean energy projects. Richard continues to serve as Chair of the New York State Energy Research and Development Authority (NYSERDA). He was also a senior advisor to the National Renewable Energy Laboratory (NREL).
Richard served as Senior Advisor to Secretary Steven Chu at the U.S. Department of Energy (DOE) where he oversaw the restructuring and reforming of DOE’s Loan Program after the Solyndra bankruptcy and advanced debt and equity capital market development policies, including proposed uses of REITs and MLPs for renewable energy.
Beyond his leadership in energy, finance, and government, Richard has served on corporate boards. He was Chairman of the Board of Levi Strauss & Co., and he currently serves on the board of Equilibrium Energy, a technology company that manages volatility on the electric grid.
As a non-profit board member, he currently serves on the boards of the Wallace Foundation; and on the advisory boards of the Precourt Energy Institute at Stanford and the Sustainable Finance Initiative. He previously served on the boards of the Brookings Institution, the Wildlife Conservation Society, Emergent Climate, the New York Philharmonic and Alvin Ailey. He was a co-chair of the advisory board of the Center for Business and the Environment at Yale and a member of the Yale School of Management advisory board. He is a member of the Council on Foreign Relations where he served on a study group on innovation in energy.
Richard received a bachelor’s degree from Stanford University, a master’s degree in international relations from Yale University, and a master’s in public and private management from the Yale School of Management. At Yale, he has taught renewable energy finance to a generation of students.
About the Coalition for Green Capital
The Coalition for Green Capital (CGC), doing business as the American Green Bank Consortium, is a 501(c)(3) chartered specifically to reduce greenhouse gas emissions and other forms of air pollution and redress climate and energy-related environmental injustice. Green banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency, and other decarbonization technologies. For over a decade, the Coalition for Green Capital has led the Green Bank movement, working at the federal, state, and local levels in the U.S. and countries around the world. For more information, visit: https://coalitionforgreencapital.com.
By danielanyiri@coalitionforgreencapital.com
WASHINGTON—Today, the Coalition for Green Capital (CGC) announces the launch of its first open Request for Investment Proposals (“RFP 1”), constituting the first step in securing a financing agreement with CGC. This open solicitation allows clean energy developers, commercial partners, community lenders, and financial investors—including private credit and equity firms—to submit investment proposals for qualified projects located in the United States. CGC is looking to build partnerships and support investments that can accelerate U.S. clean power projects, create jobs, lower energy costs, and improve the quality of life for all Americans.
CGC is accepting proposals in four priority categories: Distributed Energy Generation and Storage; Net-Zero Emissions Buildings; Zero Emissions Transportation; and Other Project types, such as grid-related investments, clean water infrastructure, and other projects with demonstrable climate, equity, and capital mobilization benefits. CGC will support these projects through various types of investments, including debt instruments, credit enhancements, equity investments, and loan purchases, among other financing approaches.
Through RFP 1, CGC will identify high-impact projects and build strong public-private partnerships throughout the country. By harnessing private investment and efficiently recycling capital, CGC expects to mobilize approximately $16.1 billion in private capital within two years and drive between $45 billion and $69 billion in private investment over seven years.
RFP 1 is available on CGC’s website at the following link: Investment Opportunities – Coalition for Green Capital. Once developers, investors, and project partners submit a proposal, CGC will evaluate the submission and contact the submitting team for further conversations.
CGC’s Chief Executive Officer Reed Hundt said, “We are eager to attract private investment to assure clean air, clean water, and cheap clean power in every state in the United States”
CGC’s Chief Impact Officer Jessie Buendia said, “Today’s announcement brings us one step closer to saving Americans money and improving health outcomes. Every community deserves access to low energy costs, clean air, and water. We’re excited to solicit more proposals to ensure we can help partners across the country implement this shared vision.”
CGC’s Chief Investment Officer Alfred Griffin said, “We’re excited to work with clean energy developers, commercial partners, community lenders, and financial investors, including private credit and private equity firms, who are eager to create a healthier future for their communities. By investing in qualified projects across our four priority categories, CGC is helping cause significant amounts of private capital toward investments that will produce meaningful change for millions of Americans.”
By danielanyiri@coalitionforgreencapital.com
Washington, D.C. — By the terms in the Letters of Intent (LOI) signed this week, the Coalition for Green Capital (CGC) intends to use $175 million dollars of its EPA granted capital to drive more than a billion dollars of public-private investment in emissions-reducing transportation and building renovation measures.
CGC and Coventry Structured Investments (CSI) intend to drive a total of a billion dollars in clean energy deployment. CGC will make available a $100 million dollar line of credit to Coventry Structured Investments. Coventry’s current pipeline contains projects in the following states: California, Maryland, Rhode Island, and Texas to install energy efficiency and clean energy upgrades to commercial properties, which may include HVAC, lighting, solar, and water conservation measures.
CGC’s planned line of credit will be used by Coventry to finance portfolios of Commercial Property Assessed Clean Energy (C-PACE) loans which will then be refinanced in the capital markets. The line of credit can then be recycled multiple times over the life of the transaction, resulting in $1 billion of C-PACE financing that gives property owners access to low-cost, long-term, non-recourse financing for energy efficiency upgrades. This investment will result in improved air quality and environmental benefits for local communities.
Coventry, headquartered in Los Angeles, California, is a leading asset management and consulting firm specializing in niche debt and equity funding solutions, raising over $1.7 billion in capital through securitization platforms and mezzanine financing. It is also expanding its total assets under management to approximately $115 million through strategic acquisitions in the privately-rated renewable asset class. With the CGC partnership, Coventry will have up to $300 million in committed capital to deploy towards renewable opportunities. This increased liquidity of C-PACE funds will grow the availability of energy efficiency upgrades for buildings, with a significant number of these projects being deployed in low-income disadvantaged communities.
CGC and Highland Electric Fleets intend to invest approximately $250 million in total public-private investment to enable the lease or purchase of 1,300 electric vehicles. The money will be a combination of $75 million in loan from CGC, Highland equity capital, and EPA Clean School Bus Program grants and rebates to help Highland accelerate the deployment of approximately 1,300 electric vehicles, as well as charging infrastructure across multiple states including Florida, Georgia, Michigan, Missouri, North Carolina, Pennsylvania, and Texas. This support will also help bridge funds from federal tax credits and state and federal grant programs.
Headquartered in Beverly, MA, and active in 30 states and Canada, Highland Electric Fleets is the leading provider of electrification-as-a-service for school districts, governments, and fleet operators in North America. Highland is responsible for the first use of electric school buses in a commercial vehicle-to-grid (V2G) program. This investment is expected to lead to a significant reduction of 230,000 tons of CO2 emissions over the total 10-year life of the loan, with 60% of benefits reaching low-income and disadvantaged communities. By implementing V2G capabilities in certain locations, some of the electric vehicles will be able to discharge energy back to the grid for reliability when utilities need it and may also provide emergency support to buildings and community centers.
CGC received $5 billion in seed funding from the EPA’s National Clean Investment Fund (NCIF) to invest in public-private partnerships and create a network of self-sustaining green banks to accelerate the construction of a clean power platform. Today’s announcement of $1.2 billion in public-private investing demonstrates the power of collaboration, and the progress that CGC is making toward reaching its target of causing $21.1 billion in cumulative private-public investment in clean power projects within the first year of receiving funds.
CGC’s Chief Executive Officer Reed Hundt said, “These LOI’s are intended to lead to investments that will accelerate the transition from carbon to clean cheaply, quickly and inclusively, by, for and with communities. From improving air quality for students to providing capital for energy efficient upgrades to commercial properties, these projects are just the first of many to make clean, cheap power available to everyone, everywhere.”
CGC’s Chief Investment Officer Alfred Griffin said, “We’re committed to making investments that not only drive immediate change but also set the stage for long-term, scalable impact. Our goal is to create a ripple effect, where our investments lead to exponential growth in clean energy projects across the country. By unlocking more than $1.2 billion in clean energy investments, we’re not only helping communities reduce emissions and cut energy costs but also paving the way for significant job creation and sustainable economic development.”
CGC’s Senior Director of Impact and Equitable Investments William Barber III said, “These investments represent a transformative shift toward a cleaner, more equitable future for all communities. By empowering underserved populations with reliable and affordable energy, we are not only tackling the roots of climate change but also strengthening public health and creating new economic opportunities.”
CSI’s Founder and Managing Principal Rasool E. Alizadeh said, “CSI is ecstatic to partner with CGC in order to meet its public-private investment initiatives while continuing to grow and support the need for CPACE in the commercial real estate (CRE) market that has to date upgraded its properties with sustainable improvements in addition to adding intrinsic value. As the CRE marketplace continues to work through refinancings, this facility will create significant liquidity to allow projects to progress while focusing the benefits of the projects on core values to both companies.”
Highland Electric Fleets’ Chief Financial Officer Gaurav Dubey said, “With CGC’s $75 million commitment as part of a larger $250 million investment, Highland Electric Fleets is making the transition to electric fleets more accessible for municipalities nationwide. This effort is about more than reducing emissions and improving air quality; it’s about delivering meaningful benefits to the communities that need them most, including low-income and disadvantaged areas. By partnering with local community organizations, we’re not only creating cleaner, healthier transportation but also driving local job creation, supporting grid resiliency, improving public health, and building a brighter, more inclusive future for all.”
ABOUT COALITION FOR GREEN CAPITAL
The Coalition for Green Capital (CGC), doing business as the American Green Bank Consortium, is a 501(c)(3) chartered specifically to reduce greenhouse gas emissions and other forms of air pollution and redress climate and energy-related environmental injustice. Green banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency, and other decarbonization technologies. For over a decade, the Coalition for Green Capital has led the Green Bank movement, working at the federal, state, and local levels in the U.S. and countries around the world. For more information, visit: https://coalitionforgreencapital.com.
ABOUT COVENTRY STRUCTURED INVESTMENTS (CSI)
Coventry Structured Investments creates value for businesses and investors by crafting alternative funding solutions in esoteric situations that catalyze meaningful growth at marginal risk. We provide consulting services and alternative funding to businesses with unique or complex capital needs. To develop solutions that create growth, we immerse ourselves in our partners’ businesses. For more information, visit www.coventrysi.com or contact us at info@coventrysi.com
ABOUT HIGHLAND ELECTRIC FLEETS
Highland Electric Fleets is the leading provider of electrification-as-a-service for school districts, governments, and fleet operators in North America. Founded in 2019, Highland offers a unique suite of products that make it simple and affordable to upgrade to electric fleets today. Active in 30 states and Canada, Highland is responsible for the first use of electric school buses in a commercial vehicle-to-grid (V2G) program and the largest electric school bus project in the United States to date. To learn more, visit www.highlandfleets.com
By Coalition for Green Capital
Washington, DC – The Clean Energy & Sustainability Accelerator (CESA), a nonprofit finance entity that will operate as the national green bank, announced today that Oswaldo Acosta has been named to the organization’s board of directors. Acosta currently serves as President and CEO of City First Enterprises, a DC-based financial institution delivering capital to underserved segments in the clean energy, affordable housing, small business, and residential mortgages markets.
“We’re thrilled to welcome Oswaldo Acosta to the Board of Directors for the Clean Energy and Sustainability Accelerator,” said Reed Hundt, Chairman of the Board. “Acosta has a rich background in lending and economic development, leading direct investments in overlooked markets, as well as entrepreneurial experience that will be invaluable as we work to launch the national green bank. With green banks around our country already generating historic investments for local clean energy projects, the green bank model continues to build momentum as a proven model for catalyzing public and private investments. We look forward to benefiting from Oswaldo’s insights and deep experience.”
CESA is an independent, nonpartisan, nonprofit finance entity that will operate as the national green bank. It will use public funds to mobilize more private investment to accelerate deployment of clean and resilient infrastructure in every community in the U.S. The current members of the CESA Board of Directors include: Reed Hundt, Roger Dower, Dr. Susan Tierney, Richard Kauffman, Bryan Garcia and Oswaldo Acosta.
Background on Oswaldo Acosta
Oswaldo joined City First Enterprises in early 2019, bringing his lending, project finance, and entrepreneurial experience to lead the organization’s efforts in advancing the region’s economic development agenda. Since then, he has led the design and implementation of the strategic expansion of CFE activities to new investment categories, including clean energy, small business, and residential mortgage lending.
Prior to his tenure at CFE, Oswaldo was the head of the Small Business group at Washington’s Latino Economic Development Center (LEDC). He led a significant lending volume growth and the expansion of the group’s footprint across the region. Oswaldo also successfully drove the adoption of fintech and algorithmic features to the group’s lending activities. In his own entrepreneurial ventures, he launched a food distribution company with market reach in Virginia, Maryland, DC, Pennsylvania, and New York City. After selling the company in 2012, he joined the Self-Help Ventures Fund’s commercial lending group. He also previously worked as an economics consultant for Stone & Webster in London, before being assigned to lead projects for The World Bank in Washington, DC.
Oswaldo serves on several boards across the region, including Capital Impact Partners and the Vermont Energy Investment Corporation (VEIC). He recently concluded his term as a member of the Federal Reserve Bank of Richmond’s Community Investment Council and the Greater Baybrook Alliance.
Oswaldo holds a bachelor’s degree in economics from Mexico’s Monterrey Institute of Technology, a master’s in political economy from the United Kingdom’s University of Essex, and a master’s in economics (Regulation) from the London School of Economics and Political Science.
ABOUT COALITION FOR GREEN CAPITAL
The Coalition for Green Capital (@CGreenCapital) is a non-profit with a mission to halt climate change by accelerating investment in clean energy technologies and by advocating for, creating and implementing green bank institutions. Green banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency and other decarbonization technologies. For over a decade, the Coalition for Green Capital has led the Green Bank movement, working at the federal, state and local level in the U.S. and in countries around the world. For more information, visit: https://coalitionforgreencapital.com
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By Coalition for Green Capital
Washington, DC— The Coalition for Green Capital (CGC) today announced the departure of Executive Director Jeffrey Schub after nine years leading the organization. Schub, a leading expert on green bank finance institutions, will depart at the end of April.
“I would like to thank Jeff for his years of dedication and work with the Coalition for Green Capital,” said CGC Chairman and CEO Reed Hundt. “Under Jeff’s tenure, we’ve built a network of green banks in red and blue states across the country, developed lasting partnerships with leaders in government, non-profit, finance and environment justice communities, and succeeded in passing legislation to create the Clean Energy and Sustainability Accelerator in the House of Representatives three times. We are grateful for Jeff’s tireless work, dedication to advancing green financing and years of leadership of the organization. We wish him the very best in his future endeavors.”
“I’m extremely proud to have led the team at CGC and worked alongside our colleagues and partners across the public and private sectors to make incredible progress over nearly a decade,” Schub said, “I am confident the team will carry on the critical work of growing the green bank network and accelerating the deployment of clean energy projects across the country. ”
CGC’s Chairman and CEO Reed Hundt will lead the organization as the board searches for a new executive director. CGC’s Hannah Beinecke will manage the organization’s administrative work and Henry Litman will lead all policy work.
ABOUT COALITION FOR GREEN CAPITAL
The Coalition for Green Capital (@CGreenCapital) is a non-profit with a mission to halt climate change by accelerating investment in clean energy technologies and by advocating for, creating and implementing green bank institutions. Green banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency and other decarbonization technologies. For over a decade, the Coalition for Green Capital has led the Green Bank movement, working at the federal, state and local level in the U.S. and in countries around the world. For more information, visit: https://coalitionforgreencapital.com/.
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