Industry News

Lockheed Martin Announces Chief Financial Officer Transition 3 Aug 2021, 9:25 pm

BETHESDA, Md., Aug. 3, 2021 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) announced today that Chief Financial Officer (CFO) Kenneth R. Possenriede has decided to retire immediately due to personal reasons. John W. Mollard, vice president and treasurer, has been appointed acting CFO,...

NY Green Bank raises $314 million to meet demand for clean energy project financing 3 Aug 2021, 4:45 pm

NY Green Bank – a division of the New York State Energy Research and Development Authority (NYSERDA) – announced this week a $314 million transaction in its first private capital raise to support clean energy project financing.

The transaction with Bank of America is the largest ever conducted by a green bank in the United States, according to a press release from NYSERDA, and allows the bank to meet financing demand without requiring additional public funds.

NY Green Bank Portfolio

“This transaction demonstrates that we have achieved our goal of increasing private sector activity in clean energy markets and leverages that progress to fuel our focus on new areas where market transformation is still needed,” said Andrew Kessler, acting president of NY Green Bank. “This is a natural step in NY Green Bank’s continued evolution and will allow us to advance our goal to put as much capital as possible to work in disadvantaged communities and other priority areas in the coming years.”

Read more: Long-term financing for solar is possible and critical for supporting continued industry growth

According to BloombergNEF’s tracking of global investment in renewable energy, $174 billion of new investment was made in the first half of 2021.

NY Green Bank has made cumulative overall investments of $1.6 billion as of June 2021, according to NYSERDA CEO Doreen Harris, in support of New York’s Climate Act. The bank’s financing portfolio includes community solar, bioenergy, electric vehicle deployment, wind systems, and energy efficiency projects.

“This is a significant milestone that demonstrates NY Green Bank’s success in forging a new path to expanding its investments that benefit all New Yorkers without the need for additional public funds,” Harris said. “NY Green Bank’s continued leadership in mobilizing private sector capital into clean energy markets highlights its essential role in advancing the State’s ambitious climate agenda as we transition to a renewable energy future.”

Subscribe to Renewable Energy World’s free, weekly newsletter for more stories like this

Alstom to Supply 10 Extra Citadis Trams to Bordeaux Metropole 12 Jan 2018, 8:44 am

Alstom is to supply 10 additional Citadis trams to Bordeaux Metropole for a total amount of nearly EUR30 million[1] as part of the optional order for the Bordeaux Phase III project, which was notified on 29 August 2011. 26 trams, representing the firm order, entered circulation in 2013 and 2014. 15 trams are currently being manufactured as part of the optional order at the Alstom site in La Rochelle. These new 44-metre-long trams are identical to those of the previous orders and are intended ...