Ygrene Energy Fund and environmental non-profit partner,Carbon War Room, today announced the launch of theClean Energy Green Corridor program at a ribbon cutting ceremony at the newYgrene Energy Center in Miami. The program launches with a $230 million bond issuance immediately available to fund hurricane protection, energy efficiency and renewable energy improvements for commercial and residential buildings.
“Property owners across South Florida can now benefit from instant access to funds to upgrade their buildings and protect their properties from major storm damage,” said Tomás Regalado, Mayor of Miami and member of the Green Corridor governing board.
Ygrene’s Clean Energy Green Corridor program is a public private partnership with the cities of Miami, Cutler Bay, Miami Shores, Palmetto Bay, Pinecrest, Coral Gables, and South Miami that provides 100-percent financing to property owners for hurricane protection, energy efficiency, and renewable energy projects using zero public money. The program uses the property assessed clean energy (PACE) financing model to allow property owners to make payments as part of annual property assessments over a 20-year term. Read more.