Catalyze Clean Energy Financing for Decarbonization in New York State Communities – State Energy Finance Institution (SEFI) Support”

Description of goods to services to be bid:

A new federal authority waives the innovative technology requirement in the Department of Energy Loan Program Office’s (“LPO”) Title 1703 for projects receiving financial support or credit enhancements from a State Energy Financing Institution (“SEFI”). Previously, all projects funded under Title 1703 were required to employ technologies that were new or significantly improved compared to commercially available technologies. Now, projects that reduce greenhouse gas emissions without using an innovative technology may be eligible for loans under Title 1703 program, so long as the projects receive qualifying funding from a SEFI (e.g., a state green bank, state energy offices or other qualifying state entities) and fall into one of the categories of eligible projects under Title 1703 program.

NYSERDA is pleased to announce the launch of a $20 million Decarbonization Fund (SEFI Fund) and encourages Financial Institutions (FinCos) and other specialty lenders to apply for this funding pathway from LPO to deliver climate decarbonization solutions for New York State residents, including to disadvantaged communities (DACs). The SEFI Fund is expected to expand and accelerate the lending from 3rd party-capital sources and channel this financing into decarbonization projects that benefit New York communities.

If changes are made to this solicitation notification will be posted on NYSERDA’s website at:  www.nyserda.ny.gov/funding-opportunities

Eligibility/Qualifications Requirements/Preferences:

Eligible Applicants must be in the process of applying to LPO for a loan guarantee supporting decarbonization work in NYS within the Target Sectors described described in Section 2.2, and may include, without limitation, the following types of entities (subject to Federal Regulations for LPO Title 1703 Program): regulated and unregulated financial entities (including but not limited to, insured credit unions and depository institutions, FinCo, and other firms active in lending activities) actively deploying capital into clean energy and sustainable infrastructure and decarbonization strategies that benefit communities in New York State.