Nonprofit Finance Fund Receives $25 Million Community Decarbonization Fund Loan to Support Clean Energy Lending
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NY Green Bank, a division of the New York State Energy Research and Development Authority (NYSERDA), is a specialized investment fund dedicated to bridging financial gaps to accelerate the build-out of clean energy and renewable infrastructure in New York State. The loan will allow NFF to provide longer-term, lower-cost capital to its borrowers.
“This loan will play a crucial role in advancing access to clean and affordable energy in underserved communities in New York,” said Erangi Dias, Senior Director on NFF’s lending team. “Everyone benefits when housing, schools, and other community hubs incorporate technologies that save energy and reduce emissions.”
NFF will use the capital to support lending to building decarbonization initiatives ranging from facility electrification to energy storage. NFF’s lending will support projects in all phases of development, including predevelopment, construction, and post-construction.
The support from NY Green Bank will allow NFF to expand its capacity to support these projects and accelerate growth of its green lending portfolio in New York.
“NY Green Bank’s Community Decarbonization Fund continues to support green lending practices of community development financial institutions that are active in New York State’s disadvantaged communities,” said David Davenport, Managing Director at NY Green Bank. “We’re thrilled to work with Nonprofit Finance Fund and all of our CDF partners to provide capital that accelerates the deployment of clean energy and renewable infrastructure.”
Developers interested in learning more about available loans can contact: financing@nff.org.
About Nonprofit Finance Fund
Nonprofit Finance Fund® (NFF®) is a nonprofit lender, consultant, and advocate. For more than 40 years, we’ve helped organizations access the money and resources they need to realize their communities’ aspirations. Alongside others, we’re working to build community wealth and well-being and put affordable housing, essential services, quality jobs, and excellent education within reach of more people. To learn more, visit https://nff.org/.
Tricia McKenna
Nonprofit Finance Fund
tmckenna@nff.org
Distribution channels: Banking, Finance & Investment Industry, Business & Economy, Energy Industry, Environment
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