NY Green Bank Seeking $1B in Private Sector Funds for Clean Energy Projects
New York State Governor Andrew M. Cuomo has announced that NY Green Bank, a state-sponsored financial entity working with the private sector to increase investments in the state’s clean energy markets, seeks to raise at least an additional $1 billion in funds from the private sector to increase the availability of financing for clean energy projects. “This expansion of the New York Green Bank will combat climate change while creating good-paying clean energy jobs across the state, helping to secure a cleaner and greener tomorrow for all New Yorkers,” Governor Cuomo said. According to the Governor’s announcement, in addition to delivering environmental and costs benefits to New Yorkers, the additional funds can be used to broaden the scope of investable projects beyond the state to projects across the U.S., expanding transaction scale and leverage and increasing the amount of clean energy that will be deployed for every dollar invested. The NY Green Bank is a division of the New York State Energy Research and Development Authority (NYSERDA), an NYSSGC member organization. For the press release, click here.