Catalyze has secured $100 million in financing from NY Inexperienced Financial institution, a division of the New York State Vitality Analysis and Improvement Authority (NYSERDA), to help a 79 MW portfolio of group distributed technology (CDG) photo voltaic tasks throughout the state.
The transaction is consistent with the financial institution’s dedication to equitable vitality transition by requiring a proportion of photo voltaic tasks profit deprived communities with a purpose to obtain financing.
“We’re excited to leverage our in depth group photo voltaic experience to make sure the success of NY Inexperienced Financial institution’s time period mortgage supporting a group distributed technology (CDG) portfolio,” says Jared Haines, CEO of Catalyze.
“CDG is likely one of the best means of creating photo voltaic vitality extra accessible to low-to-moderate earnings communities, and we stay up for how this partnership will help each the objectives of NY Inexperienced Financial institution and New York State.”
“NY Inexperienced Financial institution is happy to help Catalyze, which is more and more centered on New York State-based CDG photo voltaic tasks and equitable vitality options,” provides Andrew Kessler, president of NY Inexperienced Financial institution.
“As our first time period mortgage utilizing a sale-leaseback construction for a CDG portfolio, coupled with a minimal 65% subscriber dedication benefiting traditionally deprived communities, this transaction underscores NY Inexperienced Financial institution’s distinctive skill to supply revolutionary financing options that help the equitable distribution of fresh vitality.”
