Keeling Curve

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Project Summary / Description:

There are financial market barriers that impede the flow of capital to projects that would reduce greenhouse gas emissions for the state of New York. Among the most common are: 

Lack of transaction standardization 

Insufficient scale and volume relative to the business objectives and practices of large investors 

Inadequate data on project sponsors and counterparty credits; underlying debt (or equity) investments 

Technology performance 

Underdeveloped capital markets for clean energy projects 

To address these barriers and complement New York State‚ portfolio of clean energy programs, NY Green Bank was formed as part of Governor Andrew M. Cuomo‚ Reforming the Energy Vision.

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Best Estimate of GHG Avoidance/Reduction of This Project (Tonnes CO2 Equivalent/Year):

Impact on Underrepresented Groups:

NY Green Bank‚ investments can range anywhere from funding the building of robotic greenhouses for Smart Farms to financing the construction of wind turbines. Among the variety of projects NY Green Bank invests in, we strive to incorporate the low- and moderate-income community (LMI) to support economic diversity throughout the state. NY Green Bank helps to advance renewables in areas of the market where developers don‚ t have equitable access to financing. We work to finance LMI inclusive clean energy projects particularly Community Distributed Generation (CDG). We also provide pricing discounts against Solar for All subscription contracts (contracts that provide those living on fixed income or minimum wage, who are veterans, or who participate in assistance programs access to solar). This support has resulted in NY Green Bank committing capital to LMI-inclusive projects including a $54.3 MM transaction to finance additional 2,000 Citi bikes in primarily LMI neighborhoods in Harlem, Queens, and Brooklyn. 

In addition to supporting LMI communities, NY Green Bank supports gender diversity through the empowerment and leadership of women. NY Green Bank‚ most recent hire ‚ a Managing Director overseeing Strategy, Impact, and Investor Relations as well as its Founding Chief Operating Officer are both women. In addition, NY Green Bank is a division of New York State Energy Research and Development Authority (NYSERDA), which is lead by a female President and CEO ‚ Alicia Barton. NY Green Bank supports economic and gender diversity in both our transactions and in our workplace.

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