The Connecticut Green Bank in Rocky Hill and Maryland-based Hannon Armstrong have reached an agreement that the Green Bank says “will increase the deployment of energy efficiency, solar and other clean energy projects throughout the Connecticut commercial and industrial sector.”
Under the terms of the agreement, Hannon Armstrong will provide access to up to $100 million in funding for green energy projects for commercial and industrial buildings and businesses. The agreement supports the Green Bank’s successful C-PACE (Commercial Property Assessed Clean Energy) program.
Publicly traded Hannon Armstrong provides debt and equity financing to the energy efficiency and renewable energy markets.
The financing structure, termed “innovative” by the Green Bank in a prepared statement announcing the deal, allows the Green Bank to leverage private capital while providing Hannon Armstrong with the ability to access “a high-quality, rapidly growing class of assets.” Read more.