NYSERDA Catalyze Clean Energy Financing for Decarbonization Ongoing Due Date; Webinar 10/10
Catalyze Clean Energy Financing for Decarbonization in NY State Communities
New York State Energy Research and Development Authority (“NYSERDA”)
New York State Energy Research and Development Authority (“NYSERDA”), invites financial companies actively working (or developing plans) to deploy capital into decarbonization projects in New York State (“NYS”) to submit proposals for a direct investment in the form of subordinate debt and/or a loan loss reserve support from the NYSERDA SEFI decarbonization fund. Under the SEFI decarbonization fund (“SEFI Fund”), NYSERDA expects to deploy up to $20MM of concessionary capital starting on 9/11/2023, until fully allocated by making investments to eligible Applicants, funded at the lesser of $5MM or 3% of an Eligible Applicant’s proposed project portfolio amount.
NYSERDA aims to develop capital sources at scale to reduce the cost of decarbonizing the NYS economy, with an emphasis on the built environment and disadvantaged communities (“DAC”). Through the SEFI investment, NYSERDA intends to provide meaningful financing support as defined by DOE Loan Program Office (“LPO”) regulations, in coordination with application(s) by one or more Applicants to the LPO for clean energy loan guarantees under the Title 1703 program. This initiative, as proposed, is designed to reduce the cost of decarbonization in NYS, thus accelerating the decrease of harmful emissions and ultimately reducing the share of those costs borne by state ratepayers and taxpayers. NYSERDA is proposing to support financing innovation for the decarbonization of the built environment in New York, including for DACs, by investing in the capital stack for finance facilities for which Applicants have submitted applications to the LPO for loans or loan guarantees under the Title 1703 program.
Eligible Applicants must be in the process of applying to LPO for a loan guarantee supporting decarbonization work in NYS within the Target Sectors described in Section 2.2. Applicants should qualify under the LPO Title 1703 Program including financing firms and developers sponsoring decarbonization projects, as well as commercial firms and nonprofit organizations.
Total Amount Available:
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