RFP 23: Community Decarbonization Fund - Financing for Disadvantaged Community Lenders
NY Green Bank’s Community Decarbonization Fund provides loans to expand clean energy and sustainable infrastructure projects that reduce emissions and benefit disadvantaged communities in New York State.
Funder: New York State Energy Research and Development Authority
Due Dates: Rolling (Continuous until funds are fully allocated)
Funding Amounts: Loans from $2 million to $25 million (or up to 20% of applicant capitalization); $250 million total fund (2023–2027); up to 12-year terms; 1.5% fixed interest
Summary: Concessionary financing for community lenders to support clean energy and sustainable infrastructure projects benefiting disadvantaged communities in New York State.
Key Information: Proposals reviewed on a rolling basis; solicitation will close once impact is achieved or funds are allocated.
Description
NY Green Bank’s Community Decarbonization Fund (RFP 23) provides concessionary loans to regulated and unregulated financial entities—including community development financial institutions (CDFIs), credit unions, depository institutions, and nonprofit lenders—that serve disadvantaged communities (DACs) in New York State. The fund aims to accelerate the deployment of capital into clean energy and sustainable infrastructure projects, focusing on improving energy affordability, decarbonization, and equitable access to clean energy solutions for historically marginalized communities. Eligible lenders are encouraged to expand their lending activities to projects that maximize greenhouse gas (GHG) reductions and deliver direct benefits to DACs, such as affordable housing and small business support.
