Coalition for Green Capital Announces Partnerships With CleanSource Capital in the Southeast, Rhode Island Infrastructure Bank, Columbus Region Green Fund, Solar and Energy Loan Fund (SELF), and the Climate Access Fund in Maryland
Washington, DC— The Coalition for Green Capital (CGC) today announced the formation of strategic partnerships with clean energy community lenders including, CleanSource Capital, the Rhode Island Infrastructure Bank, Columbus Region Green Fund (CRGF), Solar and Energy Loan Fund (SELF), and the Climate Access Fund in Maryland. CGC and its coalition of green banks, lenders, and clean energy investors intend to seek funding from the Environmental Protection Agency’s Greenhouse Gas Reduction Fund to launch a national green bank.
“We’re thrilled to welcome these organizations to our growing network of partners. Having already delivered hundreds of millions in clean energy projects, our partners are prepared to deliver billions more, especially in underserved communities, with the support of the national green bank,” said Eli Hopson, executive director and COO of CGC. “Together, we anticipate an initial pipeline of climate resiliency projects valued at nearly $7.5B in public-private dollars over the next several years. We look forward to demonstrating the breadth and strength of our coalition to the EPA as we seek to capitalize the national green bank.”
“The partnership with the Coalition for Green Capital aligns perfectly with CleanSource Capital’s mission to be a catalyst for positive change in the clean energy economy in the Southeast,” said Greg Montgomery, Managing Director of CleanSource Capital. “By leveraging our expertise in financing and innovation, we are excited to support the national green bank and bring the benefits of clean energy to even more communities across the Southeast through the SAVES Green Community Fund.”
“Rhode Island Infrastructure Bank is proud to join the coalition of green banks and lenders to support the establishment of a national green bank,” said Jeffrey Diehl, executive director and CEO of the Rhode Island Infrastructure Bank. “We have a long history of delivering financing and technical assistance to communities in Rhode Island. The national green bank will provide a much-needed source of funding for climate resiliency and clean energy projects in Rhode Island and elsewhere around the country. We are eager to be a part of this important initiative.”
“We’re pleased to join this partnership to launch the national green bank and bring historic climate investments to frontline communities,” said Zach McGuire, executive director at Columbus Region Green Fund. “We believe that access to affordable, sustainable energy solutions should not be limited by geography or income, and the national green bank will provide a powerful platform to bring these solutions to communities in need.”
“The Solar and Energy Loan Fund has long worked with CGC and we’re excited to partner on implementing the highly successful green bank model at a national scale,” said Duanne Andrade, executive director at Solar and Energy Loan Fund. “Providing affordable and accessible financing in low-income and disadvantaged communities to ensure an equitable transition to a clean energy economy, is at the heart of the work we do. The national green bank will provide a much-needed source of low-cost and flexible funding with technical assistance, that will unlock opportunities to achieve our overarching goal of climate equity.”
“We are thrilled to join this nationwide coalition and support the launch of the national green bank,” said Lynn Heller, founder and CEO at Climate Access Fund. “This partnership will help unlock affordable and innovative financing solutions to even more communities across the country, advancing our mission to reduce the energy burden and carbon footprint of low- to moderate-income households through community solar.”
CGC recently announced similar partnerships with the Clean Energy Fund of Texas, Growth Opportunity Partners, Inc., the Community Development Venture Capital Alliance (CDVCA), Finance New Orleans, and the Hawaii Green Infrastructure Authority.
CleanScource Capital is the specialty finance affiliate of the Abundant Power Group, a holding company established in 2009 in Charlotte, North Carolina to create and foster high-growth companies serving niche markets in the clean energy economy and the built environment. CleanSource Capital provides design and administration of proprietary financing programs for environmental and sustainability projects under its SAVES (Sustainable and Verifiable Energy Savings) platform, with five SAVES programs having been designed and administered in four Southeastern states to date.
Rhode Island Infrastructure Bank is Rhode Island’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners. They leverage limited capital in a revolving fund to offer innovative financing for an array of infrastructure-based projects, including water and wastewater, roads and bridges, clean energy, and climate resiliency. These quality-of-life projects improve the State’s infrastructure, create jobs, promote economic development, and enhance the environment.
The Columbus Region Green Fund (CRGF) was formed in 2022 in Columbus, Ohio. The CRGF is committed to realizing an equitable transition to the clean energy future by providing accessible, low-cost financing that catalyzes the deployment of clean energy technology for all residents and organizations throughout the Columbus Region.
The Solar and Energy Loan Fund’s mission is to rebuild and empower underserved communities by providing access to affordable and innovative financing for upgrading and developing clean energy and climate-resilient residential and commercial buildings, primarily in low- and moderate-income (LMI) communities. SELF’s vision is to advance social, economic, and environmental justice by helping people improve the health, safety, and quality of life in their homes while reducing operating costs and greenhouse gas emissions.
The Climate Access Fund was established in 2017 as an independent 501(c)(3) green bank aimed at reducing the energy burden and carbon footprint of Maryland’s low- to moderate-income (“LMI”) households by facilitating access to community solar. CAF’s primary purpose is to fill gaps in the solar market that are preventing more LMI households from benefiting from solar power. CAF does so by offering innovative financing to solar developers to incentivize them to serve more LMI households, originating and financing unique LMI-centered community solar projects, and advocating for statewide policies that increase LMI access to community solar.