“NY Green Bank, a state-financed backer of sustainable infrastructure projects that previously relied only on public money, has received a $314 million investment from Bank of America.
The nine-digit investment represents the largest-ever private fundraising deal by a green bank in the U.S., according to the Coalition for Green Capital, a nonprofit organization that helps governments establish green bank finance institutions.
The investment is timely. Last year, NY Green Bank realized that it faced a liquidity challenge amid rising demand for sustainable energy projects. It turned to banks for help, targeting those with an interest in making environmental, social and governance-related investments, acting President Andrew Kessler said in an interview Monday.”
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Kline, Allissa. American Banker 2 August 2021.