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Partnerships Formed With Finance New Orleans and Hawaii Green Infrastructure Authority
Washington, DC— The Coalition for Green Capital (CGC) today announced the formation of new strategic partnerships with clean energy community lenders, Finance New Orleans and the Hawaii Green Infrastructure Authority (HGIA). The announcement comes as CGC prepares to seek funding from the Environmental Protection Agency’s Greenhouse Gas Reduction Fund to launch a national green bank. These partners will join CGC’s application to the EPA.
“We’re excited to partner with Finance New Orleans and the Hawaii Green Infrastructure Authority, which together are ready to deliver on a pipeline of projects valued at nearly $4B in public-private funding,” said Eli Hopson, executive director and COO of CGC. “These entities know their local communities and will help ensure the national green bank delivers immediately – especially in underserved communities.”
“This partnership will allow us to collaborate with green lenders across the country, share best practices and ultimately maximize the investment of the Greenhouse Gas Reduction Fund,” said Damon Burns, president and CEO of Finance New Orleans. “Our region has a rich history of resilience and innovation, and it’s exciting to see this nationwide commitment to clean energy for frontline communities. We are proud to be a part of this effort and look forward to the positive impact it will have on underrepresented communities in New Orleans and beyond.”
“This new partnership with CGC and the national green bank is an opportunity to accelerate our transition to the clean power platform and make much-needed investments in frontline communities that have long faced the harshest consequences of the climate crisis,” said Gwen Yamamoto Lau, executive director of the HGIA. “The investment and support of this coalition will help drive the clean energy revolution, bringing us closer to a future powered by renewable sources and reducing our dependence on fossil fuels. We look forward to bringing accessible clean energy to lower the energy burden for our most vulnerable ratepayers.”
CGC recently announced similar partnerships with the Clean Energy Fund of Texas, Growth Opportunity Partners, Inc., and the Community Development Venture Capital Alliance (CDVCA). The new partnerships build upon CGC’s nationwide coalition of over 30 green banks and other lenders focused on addressing the climate crisis by financing clean energy projects in local communities.
Finance New Orleans is a green finance agency with a vision of creating a resilient New Orleans for all. Since 1978, Finance New Orleans has invested more than $750 million into the local economy. Those efforts have been primarily focused on homeownership for low-to-moderate-income families and have resulted in more than 8,000 mortgage financings and the creation of affordable rental units for families in need. In 2017, Finance New Orleans also became the City’s green bank to drive more investment into sustainable infrastructure alongside needed green housing investments.
The Hawaii Green Infrastructure Authority is a state authority in Hawaii, responsible for the development and financing of green infrastructure projects that reduce emissions and support underserved communities in the state. 100% of HGIA funding benefits underserved ratepayers defined as low and moderate-income homeowners, renters, small businesses (as defined by the U.S. Small Business Administration’s Size Standards), nonprofits, and multi-family rental projects.