NY Green Bank

Overview

NY Green Bank, a division of the New York State Energy Research and Development Authority (NYSERDA), is a specialized investment fund focused on bridging financial gaps and mobilizing private capital to advance the build-out of clean energy and renewable infrastructure in New York State. Established in 2013, the bank has committed over $2 billion to finance clean energy and sustainable infrastructure projects, including building decarbonization, clean transportation, energy storage, solar, and wind. Its mission is to transform financing markets to accelerate clean energy investments and deliver equitable benefits to all communities. NY Green Bank collaborates with private sector industry participants—including financial institutions, developers, energy service companies, project and property owners, and equipment manufacturers—to provide financing for clean energy projects. The bank's investments are expected to mobilize up to $5.5 billion in public and private investments, contributing to New York State's ambitious climate goals. As of May 2023, NY Green Bank has completed 123 transactions, generating lifetime reductions in greenhouse gas emissions of more than 41 million metric tons, equivalent to taking over 416,600 cars off the road for 24 years. The bank's portfolio spans various clean energy sectors, including solar, wind, energy storage, and building electrification, demonstrating its commitment to advancing a sustainable and resilient energy future for New York State.

Investment Focus

• Projects must demonstrate potential for greenhouse gas reductions in support of New York State clean energy policies
• Projects must be economically and technically feasible with expected financial returns
• Projects must be scalable to New York’s clean energy marketplace
• Projects must address financing gaps where private investment is lacking

Portfolio Companies