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Catalyze Clean Energy Financing for Decarbonization in NY State Communities (PON 5456)

Due Date:  Continuous

Description

New York State Energy Research and Development Authority (“NYSERDA”), invites financial companies actively working (or developing plans) to deploy capital into decarbonization projects in New York State (“NYS”) to submit proposals  for a direct investment in the form of subordinate debt and/or a loan loss reserve support from the NYSERDA SEFI decarbonization fund.  Under the SEFI decarbonization fund (“SEFI Fund”), NYSERDA expects to deploy up to $20MM of concessionary capital starting on 9/11/2023, until fully allocated by making investments to eligible Applicants, funded at the lesser of $5MM or 3% of an Eligible Applicant’s proposed project portfolio amount.

NYSERDA aims to develop capital sources at scale to reduce the cost of decarbonizing the NYS economy, with an emphasis on the built environment and disadvantaged communities (“DAC”). Through the SEFI investment, NYSERDA intends to provide meaningful financing support as defined by DOE Loan Program Office (“LPO”) regulations, in coordination with application(s) by one or more Applicants to the LPO for clean energy loan guarantees under the Title 1703 program.  This initiative, as proposed, is designed to reduce the cost of decarbonization in NYS, thus accelerating the decrease of harmful emissions and ultimately reducing the share of those costs borne by state ratepayers and taxpayers. NYSERDA is proposing to support financing innovation for the decarbonization of the built environment in New York, including for DACs, by investing in the capital stack for finance facilities for which Applicants have submitted applications to the LPO for loans or loan guarantees under the Title 1703 program.

NYSERDA will host a webinar about this solicitation on October 10, 2023, at 10:00 a.m. EST. Interested parties can register here. This webinar will be recorded and posted on the NYSERDA website. 
 

Application Submission

Associated Documents

Contact

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