The New York-based impact lender will use the loan from NY Green Bank’s $250 million Community Decarbonization Fund to expand its green lending portfolio in New York state’s underserved communities.
NFF will support clean electrification and energy storage projects that help accelerate the empire state’s low-carbon transition.
“Everyone benefits when housing, schools and other community hubs incorporate technologies that save energy and reduce emissions,” said NFF’s Erangi Dias. NFF will back projects in all phases of development, offering longer-term, lower-cost capital to borrowers.
Place-based investing
NY Green Bank, a specialized clean energy and decarbonization fund, is part of New York state’s Energy Research and Development Authority, or NYSERDA. It offers flexible loans and grants to bridge private financing gaps for green developers and project managers.
NY Green Bank’s Community Decarbonization Fund, launched in 2023, has closed eight loans totaling $158 million for clean transportation, building electrification and community solar projects.
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