E-News August 2020

Green Liberty Bond’s $16 Million Inaugural Issuance Sells Out

In July, the Connecticut Green Bank’s successfully sold-out of its inaugural Green Liberty Bond offering of $16,795,000 to retail and institutional investors in Connecticut and across the country. Demand was so strong that the supply of bonds could not meet the interest of those seeking to invest in Connecticut’s green economy.

Retail investors were given priority during a one-day retail order period on Tuesday, July 14. Total retail orders received during this order period surpassed $9.9 million. With first priority given to Connecticut citizen investors, their orders for nearly $5 million of bonds were filled before the national orders. Due to heavy volume of interest seeking the first two maturities, the Green Bank was only able to fill $1 million of the national retail order.

You can read more about this first-of-its-kind offering here.

The Green Bank is already planning its next Green Liberty Bond issuance, as well as looking into other ways to allow for more inclusive citizen investment in green projects. To receive notifications about future issuances, please visit www.greenlibertybonds.com.

C-PACE Flexible Repayment Options Help Free Up Cash Flow for Commercial Properties

The Connecticut Green Bank is offering flexible repayment options to new borrowers who use its Commercial Property Assessed Clean Energy (C-PACE) financing to make energy saving improvements.

The Green Bank has designed these new repayment options in order to provide relief to property owners impacted by COVID-19. The repayment options will provide borrowers with immediate increased cashflow by significantly reducing operating expenses in the near term and deferring all or a portion of payments until later.

New borrowers will have the option of:

  • Deferring their first two payments on a new C-PACE assessment.
  • Making interest only payments for up to three years on a new C-PACE assessment.

Learn more at cpace.com/offer.

Smart-E Special Offers

Connecticut families looking to heat and cool their homes with heat pump technology (like ductless mini splits, air source heat pumps, heat pump hot water heaters, and geothermal/ground source heat pumps) should act now using 2.99% financing through the Smart-E Loan. This special rate is also available for adding battery back-up to your existing solar PV system. (if you’re new to solar a special blended rate can be used to finance the new system and the battery storage).

Learn more about 2.99% for heat pumps or battery storage.

Open Request for Proposals for Green Bank Capital Solutions Announced

Seeking to further catalyze green investment in the state, the open RFP provides access to developers and others with projects that need financial acceleration

“The Open Request for Proposals for Green Bank Capital Solutions will support a variety of developers and capital providers – from emerging developers of commercially established technologies to well-established manufacturers of emerging technologies and lenders and investors of all types,” said Bert Hunter, Chief Investment Officer for the Green Bank. “We’ve seen other green banks, specifically the New York Green Bank and Australia’s Clean Energy Finance Corporation, successfully use similar open and ongoing solicitations to bring in project proposals. We believe this approach in Connecticut will also produce much needed investment in our state, jobs and clean energy impact.”

Learn more about the RFP here.

Sweet Sunlight: Solar Energy to Power Pastry Shop

The DiMare Pastry Shop in Stamford is known for bringing sunshine into customers’ daily lives and special moments through their baked goods, cakes and cookies. Now, the family-owned and operated business will power its 12 Largo Drive South location thanks to a solar photovoltaic (PV) system on their roof. Read more in the Stamford Advocate.

Loans for Health & Safety Remediation at Multifamily Properties Available

For multifamily property owners, particularly those serving low- and moderate-income residents, the Green Bank offers the Energize CT Health and Safety Revolving Loan Fund. This loan was designed to address a wide range of health and safety issues, including mold, asbestos, lead, knob-and-tube wiring, radon, and leaky roofs, that block the way to full energy improvements.

Learn more here.