Connecticut Green Bank, Hannon Armstrong agreement provides $100 million green energy funding

By Lisa Kerner

Charlotte, N.C., Dec. 17 – The Connecticut Green Bank and Hannon Armstrong Sustainable Infrastructure Capital, Inc. reached an agreement under which Hannon Armstrong will provide access to up to $100 million of funding for green energy projects for commercial and industrial buildings and businesses.

It is the largest facility ever with a state green bank, according to a news release.

The agreement supports the Green Bank’s Commercial Property Assessed Clean Energy (C-PACE) program, which provides commercial, industrial, nonprofit and multi-family property owners access to affordable, long-term financing for meaningful energy upgrades to their buildings.

“Investing in energy efficiency and clean energy projects through the Connecticut Green Bank’s C-PACE program provides Hannon Armstrong a new scalable channel partner to cost effectively deploy capital,” said Jeffrey Eckel, president and chief executive officer of Hannon Armstrong.

The Green Bank has closed more than $50 million in C-PACE projects and has a growing pipeline of about $50 million more in already approved projects.

Hannon Armstrong is a specialty finance company based in Annapolis, Md., that provides debt and equity financing to the energy efficiency and renewable energy markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.