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News
Press

DC Green Bank Closes $1 M Portfolio of Loans to Local Firm Flywheel

FOR IMMEDIATE RELEASE
June 16, 2020

CONTACT:
Steven Jumper
steven@ghostnoteagency.com
240.505.5299

DC Green Bank Closes $1 M Portfolio of Loans to Local Firm Flywheel Development to Fund Innovative Solar Project Saving DC Residents Millions

The DC Green Bank, the independent District authority created to accelerate deployment of affordable private and public capital for the clean economy, has officially partnered with leading sustainable and DC-based firm Flywheel Development to fund its Solar For All installations in 2020 – a re-roofing and solar development effort focused on Wards 7 and 8 and backed by $3.2 million in solar assets. The Green Bank’s initial financing totaling $1 million closed Monday and will support 7 of Flywheel’s projects this year, including deployments at the Fairfax Village community in Ward 7, and will leverage funding from the DC Sustainable Energy Utility (DCSEU).

“The entire DC Green Bank team, Board of Directors, and I are thrilled to support these exciting projects with Flywheel Development – one of the most innovative companies promoting inclusive sustainable energy in the District today,” said DC Green Bank CEO Eli Hopson.

“By funding these projects we will not only help save DC residents millions in utility bills through the construction of nearly 1 megawatt of solar energy, reducing emissions by 1,100 tons of carbon dioxide annually, we are also creating jobs for residents and collaborative partnerships to help the District thrive,“ Hopson said.

Currently, the DC Green Bank and Flywheel anticipate more than $3.5 million in total electricity bill savings and Solar for All funds deployed in District communities from the portfolio.

“The Flywheel Development team is delighted to now call the DC Green Bank our partner and we are excited to deploy Solar For All resources in District communities in ways that save local households real money,” said Flywheel Development Co-founder and Principal Jessica Pitts.

As a partner with the District Department of Energy and Environment’s Solar For All program, these projects will generate enough electricity to power half of 250 low and moderate-income District households’ electricity bills for 20 years. Flywheel also uses a shared equity model to split the value created by the solar deployments with the host sites, allowing many of the sites to make needed roof repairs or replacements.

“With the Solar For All program, Flywheel is making a significant impact in our neighborhood and throughout Southeast DC,” said Fairfax Village Community Association Board Member Lemuel Walker, Jr.

As part of its commitment to swift action, particularly in response to the economic challenges caused by COVID-19, the DC Green Bank was able to help Flywheel secure a bulk purchase of materials for District projects that directly increased clean energy generation and benefits to residents by 9.6%. That benefit to residents totals nearly $250,000 in cost savings for District residents.

“Last year, working with developers like Flywheel, we installed enough community solar to serve 2,000 income-qualified District households through Solar for All,” said Ted Trabue, Director of the DCSEU. “It is exciting to see the DC Green Bank offer financing to expand this important work and we look forward to working closely with them moving forward,” said DC Sustainable Energy Utility Executive Director Ted Trabue.

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About DC Green Bank

In 2018, DC Mayor Muriel Bowser and the D.C. Council passed legislation creating the Green Finance Authority Establishment Act, commonly referred to as the DC Green Bank. The goal of the DC Green Bank is to accelerate the clean economy by leveraging private investment, removing up-front costs, and increasing the efficiency of public dollars. The DC Green Bank is a critical component of the District’s strategic plan to reduce greenhouse gas emissions by 50% by 2032 and grow D.C.’s clean economy with a focus on inclusive prosperity.

About Flywheel Development

Flywheel Development is a leading sustainable urban design and development company in the Washington DC region. We are active in real estate, solar, and stormwater management infrastructure. Our dedicated team delivers path-breaking green building projects, from innovative solar projects that contribute to energy resilience to the most environmentally responsible buildings in the District. Our ability to deliver high-value solar projects is grounded in our deep understanding of environmental markets as well as our range of touchpoints between green infrastructure and real estate. Flywheel’s current development projects in the District include Truxton Circle’s Cycle House apartments and Congress Heights’ Stack Eight townhomes, the first Living Building Challenge net-zero energy homes in DC.

News

Guidelines and procedures for projects and programs under $500,000

DC GREENBANK PROGRAM GUIDELINES AND PROCEDURES

The DC Greenbank Program Guidelines are meant to serve as the guiding principles for all financial products offered or supported by the DC Green Bank (herein the “Green Bank”).  These Guidelines and Procedures are informed by extensive stakeholder discussions held over the course of the Green Bank’s startup period. Each partnership, project, product, or program offered or supported by the Green Bank must be selected using one of the three procedures listed below, and must meet most, if not all, of the following core objectives of the Green Bank:

Green Bank Core Objectives

  • Provide environmental benefit to the residents of DC 1
  • Provide a pathway to financial self-sustainability for the Green Bank
  • Attract private capital, while generating income for the Green Bank
  • In order to not compete with lenders, either address an underserved need in the market or partner with a lender
  • Have sufficient speed to market that will provide immediate benefits to DC residents
  • Contribute to the Green Bank’s overall diversity in markets and project sizes
  • Serve the low-moderate income community including affordable housing projects
  • Include support for the creation of new solar energy sources (if funded by the REDF)

Selection Procedures

One of the following methods must be used in the selection and award of any loans, loan guarantees, credit enhancements, bonds, or other financing mechanisms for sustainable projects and programs offered or supported by the  Green Bank: (1) competitive selection and award; (2) programmatic selection and award; or (3) strategic selection and award. The factors to be considered in choosing the appropriate selection and award method, and the general procedures to be followed in each such case are set forth below.

1 Per the authorizing statute, the Green Bank may support “sustainable projects and programs,” defined as clean energy, clean infrastructure, clean transportation, stormwater best management practices, energy efficiency, water efficiency, or green infrastructure projects and programs. The term “sustainable projects and programs” shall not include biomass, biofuel, nuclear, or waste-to-energy projects and programs.

1. Competitive Selection

Applicability: Competitive selection and award shall be the preferred method when the  Green Bank determines that it is appropriate in the circumstances to invite and consider proposals for a particular clean energy project or projects in a competitive process under an established schedule and pursuant to formal qualification and selection criteria so that proposers and proposals may be evaluated fairly and thoroughly on a comparative basis.

Issuance of RFP: A request for proposals (RFP) shall be published or distributed in a manner that the Green Bank determines will promote broad participation in the competitive process. Deadlines for particular stages in the competitive selection process will be set forth in the RFP. Notice of the RFP shall be posted on the Web site of the Green Bank, in the DC register, and may be published in one or more major daily newspapers published in the District.

2. Programmatic Selection

Applicability: Programmatic selection and award shall be the preferred method when the  Green Bank determines that it is appropriate in the circumstances to invite applications on a continuing or periodic basis for clean energy projects with identified characteristics and to consider such applications under pre-established program-based qualification, eligibility, and selection criteria, but that it is not necessary or appropriate to evaluate such applications on a comparative basis as part of a competitive RFP process. Any such program may be discontinued, suspended, extended, or expanded at any time by the Board, or the Executive Committee or CEO within their delegated authority based on its determination of what is appropriate and in the best interests of the Green Bank and based on the criteria above.

Program Guidelines: Each such program shall be authorized by resolution of the Board and operated and administered by the  Green Bank pursuant to established program guidelines, which shall at a minimum set forth: (i) applicant qualification requirements; (ii) project eligibility criteria; (iii) the nature and amount of financial assistance available from the Green Bank under the program; (iv) the principal selection criteria; (v) any mandatory terms and conditions under which such funding is available; (vi) the application process, including a standard application form; (vii) applicable application, processing, or other program fees; and (viii) the process by which applications will be considered and acted upon. Such program guidelines may be modified, in whole or in part, from time to time and at any time by the Green Bank, consistent with the authorizing resolution of the Board , or the Executive Committee or CEO within their delegated authority. A general description of each such program, including the applicable program guidelines, and all such modifications, if any, shall be posted on the Web site of the Green Bank.

3. Strategic Selection

Applicability: While the utilization of an open and public process, either competitive or programmatic, for awards from the Green Bank is strongly preferred, there are certain circumstances in which, based on special capabilities, uniqueness of the opportunity, urgency of need, cost and similar factors, that the public interest and the strategic mission of the Green Bank is best served by direct participation by the Green Bank in, and funding of, a particular clean energy project outside of an existing program and absent a competitive process of selection and award. Such strategic selection and award method may be utilized only upon approval of the Board, or the Executive Committee or the CEO within their delegated authority, based on a finding that the proposed project meets at least six (6) of the Green Bank’s core objectives, and at least three (3) of the following characteristics are present:

(a) Special Capabilities: The opportunity is presented by a party with exceptional experience, expertise, or availability, or holding patent or other proprietary rights of special value to the Green Bank.

(b) Uniqueness: The opportunity is one-of-a-kind by virtue of location, high visibility, and leverage with other already committed public or private funding or similar unique attributes.

(c) Strategic Importance: The opportunity has exceptionally strong compatibility with the mission of the Green Bank, including the jobs created by the project or the environmental benefits stemming from the project, or offers the Green Bank an organizational role, participation in governance, a formative or other key role in the industry, high funding leverage potential, broad market reach, exceptional educational or public relations value, or similar special strategic advantages important to the Green Bank.

(d) Urgency and Timeliness: There is an urgent need to act on the opportunity as a result of public exigency or emergency, or a strategically important opportunity would become unavailable as a result of delay, or it would take an unacceptable length of time for a similar opportunity to reach the same level of readiness.

(e) Multiphase Project; Follow-on Investment: The opportunity relates to the next phase of a multiphase proposal or the expenditure is necessary to support or protect an existing Green Bank investment or initiative.

Award Procedures

Products supported by the Green Bank via either competitive selection, programmatic selection or strategic selection shall be subject to the award procedures set forth below.

Negotiation: The Green Bank may enter into good faith negotiations with one or more of the selected awardees at such time and in such order as the Green Bank may determine in its discretion consistent with the terms of the selection process. The commencement of such negotiations does not signify a commitment to provide financial assistance or to enter into a contract with an awardee. Either the awardee or the Green Bank may terminate such negotiations at any time for any reason. The Green Bank reserves the right to enter into negotiations with any other awardee at any time. Such negotiations shall not be limited to the scope or terms of the proposal but may include such other matters or different terms as the Green Bank may determine to be in the best interests of the Green Bank.

Award: Upon mutual agreement regarding the terms and conditions of the financial assistance, the Green Bank and the selected awardee may enter into a contract which memorializes the agreed-upon terms and conditions subject to all necessary Green Bank approvals, including the Board or a duly authorized committee of the Board.

Fees and Expenses: The Green Bank may impose reasonable application, processing, or similar fees in connection with the submission and processing of proposals, and may require, as a condition of negotiation with any selected awardee, that such awardee agree to pay costs incurred by the Green Bank, including fees and disbursements of the Green Bank’s consultants, lawyers and other professional advisors.

Future Amendments 

The DC Green Bank Board of Directors and its executive leadership plan to regularly evaluate the efficacy and impact of these guidelines in meeting DC Green Bank’s goals and objectives, and may modify them, as circumstances require.

 

  • June 12, 2020
News
Press

Statement from DC Green Bank CEO Eli Hopson and Board Chair Brandi Colander

FOR IMMEDIATE RELEASE
June 1, 2020
CONTACT:
Steven Jumper
steven@ghostnoteagency.com
240.505.5299

Joint Statement from DC Green Bank CEO Eli Hopson and Board Chair Brandi Colander on Recent Protests in District and National Conversation on Race

We and the entire team behind the DC Green Bank are deeply saddened by the recent unrest across America, the death of an unarmed and innocent George Floyd, and the larger racial rifts this Nation is being made to face.

The DC Green Bank is committed to working closely with the District of Columbia, Mayor Muriel Bowser, the DC Council, and District residents and businesses to do our part in helping to promote healing and recovery during these troubling times. As we still face the global challenge of COVID-19 and now deep racial pains in America, the DC Green Bank stands committed to doing our part to promote healing and health. Our mission to encourage authentic and inclusive prosperity for all District residents has only been strengthened as we watch people across the United States grappling with the checkered history of race in this country.

We know that our work is only a small piece of the larger conversations taking place in America today, but it is our hope and goal to spur real change in all District communities by investing in innovative projects, leading honest dialogue, and offering economic and policy vehicles that help District residents realize a more prosperous, healthy, and equitable future.

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Career

Controller

About DC Green Bank

DC Green Bank is a new independent agency, established by the Green Finance Authority Establishment Act of 2018 to leverage public capital to accelerate private sector investments that reduce greenhouse gas emissions and advance the District of Columbia’s ambitious sustainability and resiliency goals. Using limited public funding and bonding authority, DC Green Bank will attract private sector funding. Through its financing offerings, the organization will enable private capital to fill gaps by reducing real and perceived risk, absorbing transaction costs, and providing private investors the chance to learn about new market opportunities with the security of government partnership. An institutional goal is to accelerate the deployment of low-carbon technologies by mitigating upfront costs, leveraging private investment, and increasing the catalytic impact of public dollars.

Summary

DC Green Bank seeks a Controller to help launch this cutting-edge, mission-driven organization. Reporting to the Chief Executive Officer (CEO), and also as an employee of the District’s Office of the Chief Financial Officer (OCFO), the Controller is responsible for managing the finance and accounting functions of the organization, including the budgeting process. The Controller will not only provide critical technical accounting expertise to DC Green Bank during the start-up phase, but also ensure the financial foundation established can support the long-term growth and financial health of this high-impact organization.

Responsibilities

  • Oversee accounting activities of the organization, including billing, financial reporting, general ledger, cost accounting, accounts payable, accounts receivable, payroll, tax compliance, and procurement.
  • Develop and maintain a system of accounts, ledgers, and fiscal records for accounting activities.
  • Develop the organization’s internal control framework, in collaboration with the CEO, OCFO, and leadership team, and ensure compliance with policies and procedures.
  • Analyze and interpret accounting information and regularly present financial reports to the CEO and Board of Directors.
  • Oversee financial close process, including preparation of journal entries, additional supporting schedules, and key account analysis and reconciliations.
  • Manage filing of all tax returns and other statutory filings.
  • Develop the organization’s risk management framework, in coordination with the CEO and leadership team.
  • Coordinate with external auditors and oversee the annual external audit process.
  • Manage DC Green Bank’s cash flow forecasting to meet operating needs.
  • Prepare all financial statements and reports.
  • Evaluate and implement the financial system for DC Green Bank.
  • Oversee annual budgeting process, in coordination with the CEO and leadership team.
  •  Advise the CEO and leadership team on financial strategies for the organization.

    The Ideal Candidate

    The ideal candidate has served previously in a similar role at an accounting firm, start-up, and/or government or quasi-government organization. You are committed to integrity and transparency. You are excited about implementing new systems and processes and enjoy tracking and measuring performance. You hold yourself and others accountable to due dates and deadlines. You make sound decisions and are able to clearly communicate your positions and recommendations to other people. You can juggle multiple projects and quickly adapt to new information and unexpected or ambiguous circumstances. You are highly organized and detail oriented. You are willing to take on additional responsibilities to fill in the needs of DC Green Bank. You are committed to tackling climate change issues at a local level for global impact and you will strive to bring an entrepreneurial and creative spirit to DC Green Bank.

    Minimum Qualifications

  • BA or BS degree in Accounting or Finance. MA, MS or MBA degree preferred
  • Certified Public Accountant
  • Minimum of 8 years of experience with accounting and financial reporting
  • Knowledge of all aspects of generally accepted accounting principles
  • Ability to build relationships and communicate across departments and with external consultants and vendors
  • Ability to handle and maintain the confidentiality of highly sensitive information
  • Demonstrated verbal and written communication skills
  • Commitment to the mission of the DC Green Bank Position Details
  • Status: Full-time
  • Location: Remote during DC’s stay-at-home order; Washington, DC required when stay-at-home order is lifted
  • Salary and Benefits commensurate with experience

    To Apply

    Interested applicants should submit (1) a detailed cover letter expressing their interest and fit for the position, and (2) a CV/resume clearly outlining experience, abilities, and qualifications satisfying the needs of the organization. Please list the position in the subject of the email.

    Application materials should be sent to jobs@dcgreenbank.org. Applications will be accepted until the position is filled.

  • May 12, 2020
Career

Director of Operations

About DC Green Bank

DC Green Bank is a new independent agency, established by the Green Finance Authority Establishment Act of 2018 to leverage public capital to accelerate private sector investments that reduce greenhouse gas emissions and advance the District of Columbia’s ambitious sustainability and resiliency goals. Using limited public funding and bonding authority, DC Green Bank will attract private sector funding. Through its financing offerings, the organization will enable private capital to fill gaps by reducing real and perceived risk, absorbing transaction costs, and providing private investors the chance to learn about new market opportunities with the security of government partnership. An institutional goal is to accelerate the deployment of low-carbon technologies by mitigating upfront costs, leveraging private investment, and increasing the catalytic impact of public dollars.

Summary

DC Green Bank seeks a Director of Operations to help launch this cutting-edge, mission-driven organization. Reporting to the Chief Executive Officer (CEO), the Director of Operations will be responsible for the day-to-day functioning of the organization, including human resources and administrative programs. The Director will lead the development and implementation of internal systems and policies that support the DC Green Bank’s mission and ensure the organization’s long-term productivity and success. As a key member of the initial management team, the Director of Operations will play a critical role in shaping this high-impact organization in its early days and guiding it through the start-up phase.

Responsibilities

Human Resources

  • Manage the hiring process, including recruitment for openings and onboarding new staff.

  • Establish efficient HR operations, including the development of the employee handbook and policies and procedures manual.

  • Promote professional development opportunities and internal engagement programs.

  • Monitor personal leave requests.

  • Manage staff separations and resignations.

  • Ensure compliance with all applicable state and federal workforce requirements.

  • Work with the CEO and senior leadership to develop a performance evaluation system.

  • Assist DC Green Bank leadership with HR issues.

  • Serve as staff resource on payroll and benefits, and liaise with external HR consultants.

  • Promote a culture of diversity and inclusion within the organization.

    Administrative

  • Build, scale and optimize systems that allow staff to work and communicate effectively.

  • Secure an office space and oversee the office opening and maintenance.

  • Procure and maintain office equipment/supplies.

  • Work with the CEO and senior leadership team to build organization-wide workflows and address cross-departmental issues.

  • Serve as primary contact for all operations-related vendors, and manage consultant work on operational and HR projects.

  • Monitor the organization’s business insurance and licenses and manage bill payments.

  • Work with the CEO to develop a comprehensive operating and program budget.

  • As necessary, support the CEO in producing materials for Board meetings.

    The Ideal Candidate

    The ideal candidate has experience in operations, startups, and a background or interest in clean energy and/or climate finance. You love making things work and solving problems and you thrive in a fast-paced and evolving environment. You are committed to promoting diversity, equity and inclusion in the workplace. You work collaboratively and easily build relationships internally and externally. You are process-driven, detail-oriented, and an excellent communicator. You are willing to take on additional roles to fill in the needs of the DC Green Bank. You are committed to tackling climate change issues at a local level for global impact and you will strive to bring an entrepreneurial and creative spirit to DC Green Bank.

    Minimum Qualifications

  • Bachelor’s degree

  • 4+ years prior experience in operations, human resources or administrative support

  • Attention to detail, organizational, analytical and project management skills

  • Ability to work independently and willingness to ask questions to clarify assignments

  • Demonstrated written and verbal communications skills

  • Excellent judgment and problem-solving skills

  • Ability to treat confidential information with discretion

  • Commitment to the mission of the DC Green Bank

    Position Details

  • Status: Full-time

  • Location: Remote during DC’s stay-at-home order; Washington, DC required when stay-at-home order is lifted

  • Salary and Benefits commensurate with experience

    To Apply

    Interested applicants should submit (1) a detailed cover letter expressing their interest and fit for the position, and (2) a CV/resume clearly outlining experience, abilities, and qualifications satisfying the needs of the organization. Please list the position in the subject of the email.

    Application materials should be sent to jobs@dcgreenbank.org. Applications will be accepted until the position is filled.

  • May 12, 2020
Career

General Counsel

About DC Green Bank

DC Green Bank is a new independent agency, established by the Green Finance Authority Establishment Act of 2018 to leverage public capital to accelerate private sector investments that reduce greenhouse gas emissions and advance the District of Columbia’s ambitious sustainability and resiliency goals. Using limited public funding and bonding authority, DC Green Bank will attract private sector funding. Through its financing offerings, the organization will enable private capital to fill gaps by reducing real and perceived risk, absorbing transaction costs, and providing private investors the chance to learn about new market opportunities with the security of government partnership. An institutional goal is to accelerate the deployment of low-carbon technologies by mitigating upfront costs, leveraging private investment, and increasing the catalytic impact of public dollars.

Summary

DC Green Bank seeks a General Counsel (GC) to help launch this cutting-edge, mission-driven organization. Reporting to the Chief Executive Officer (CEO), the GC is responsible for building and overseeing the legal function of the organization, as well as advising the leadership team on operations and financial products. The GC will provide day-to-day legal and compliance support to the organization and manage the work of outside counsel. As a key member of the initial management team, the GC will play an important role in determining the strategic direction of this growing, high-impact organization.

Responsibilities

  • Oversee all legal matters and advise the CEO and leadership team on organization strategy and development, financial products, and operations.
  • Provide day-to-day legal support.
  • Prepare and review contracts, MOUs, licenses, leases, and other agreements.
  • Identify and mitigate legal risk impacting organization decisions.
  • Maintain expertise in laws and regulations pertaining to the organization and anticipate impact on organization from legislative and regulatory changes.
  • Protect the organization from undue exposure, liability, and significant financial loss, as

    well as the organization’s reputation, resources, programs and products.

  • Develop and implement innovative methods for reducing legal spend in clean energy transactions.
  • Advise DC Green Bank on litigation matters involving the organization, in coordination with outside counsel.
  • Develop and manage the legal budget for the organization, in coordination with the leadership team.
  • Assist on general compliance matters and other employment-related legal matters.
  • Engage and oversee legal work provided by outside counsel.

        ● Report legal issues and activities to the CEO and Board of Directors.

The Ideal Candidate

The ideal candidate has legal experience working at a clean energy, start-up, and/or government or quasi-government organization. You are an analytical and strategic thinker and business-minded attorney with an ability to evaluate information and determine an appropriate course of action. You have significant experience working in DC, and a strong understanding of its unique status under home rule. You have excellent judgment and are not afraid to make difficult decisions. You are excited by complex challenges and enjoy finding creative and effective ways to solve problems. You are a strong communicator, able to explain technical concepts clearly to other people. You work well independently and collaboratively with diverse groups of stakeholders. You are willing to take on additional responsibilities to fill in the needs of DC Green Bank. You are committed to tackling climate change issues at a local level for global impact and you will strive to bring an entrepreneurial and creative spirit to DC Green Bank.

Minimum Qualifications

  • 10 years or more of progressive legal experience; experience in clean energy law a plus
  • Active member of the DC Bar in good standing or eligible to become an active member
  • Demonstrated knowledge of general corporate matters
  • Experience advising senior executives and working across departments
  • Demonstrated ability to manage multiple projects and competing deadlines
  • Demonstrated written and verbal communication skills
  • Experience applying and interpreting local and federal statutes and legal opinions
  • Experience budgeting and managing financial resources
  • Exceptional analytical and problem-solving skills
  • Ability to work under pressure and with minimal supervision
  • Ability to handle and maintain the confidentiality of highly sensitive information
  • Commitment to the mission of the DC Green Bank

    Position Details

  • Status: Full-time
  • Location: Remote during DC’s stay-at-home order; Washington, DC required when stay-at-home order is lifted
  • Salary and Benefits commensurate with experience

    To Apply

    Interested applicants should submit (1) a detailed cover letter expressing their interest and fit for the position, and (2) a CV/resume clearly outlining experience, abilities, and qualifications satisfying the needs of the organization. Please list the position in the subject of the email.

    Application materials should be sent to jobs@dcgreenbank.org. Applications will be accepted until the position is filled.

  • May 12, 2020
Career

Chief Investment Officer

About DC Green Bank

DC Green Bank is a new independent agency, established by the Green Finance Authority Establishment Act of 2018 to leverage public capital to accelerate private sector investments that reduce greenhouse gas emissions and advance the District of Columbia’s ambitious sustainability and resiliency goals. Using limited public funding and bonding authority, DC Green Bank will attract private sector funding. Through its financing offerings, the organization will enable private capital to fill gaps by reducing real and perceived risk, absorbing transaction costs, and providing private investors the chance to learn about new market opportunities with the security of government partnership. An institutional goal is to accelerate the deployment of low-carbon technologies by mitigating upfront costs, leveraging private investment, and increasing the catalytic impact of public dollars.

Summary

DC Green Bank seeks a Chief Investment Officer (CIO) to help launch this cutting-edge, mission-driven organization. Reporting to the Chief Executive Officer (CEO), the CIO will be responsible for developing, deploying, and managing the organization’s first financial offerings, as well as securing capital funding. The CIO will actively seek new products that address market barriers and are aligned with the mission of the organization. As a key member of the initial management team, the CIO will play an important role in determining the strategic direction of this growing, high-impact organization.

Responsibilities

  • Lead development of financial products using market-proven models and methodologies that address gaps in financing availability and support the mission of DC Green Bank.

  • Develop and implement strategies for identifying and securing capital funding, including through the collaboration with other green banks.

  •  Identify potential partnerships and conduct outreach to financial partners and investors.

  • Structure and negotiate terms for financing and investments, in coordination with the

    CEO and external legal counsel.

  • Provide financial modeling expertise and evaluation and risk analysis of investment opportunities.

  • Develop strategies to market and increase utilization of DC Green Bank products.

  • Establish performance management approach, including defining metrics and methodology for assessing DC Green Bank products.

  •  Represent the DC Green Bank at events and outreach opportunities.

  •  Manage relationships with financial partners, contractors, and other stakeholders.

  • Lead development and execution of requests for proposals (RFPs) for new project investments and/or other purposes consistent with the mission of the organization.

  • Provide regular updates to the CEO and Board on product development and activities.

  • Build and work with the team to evaluate and improve existing products and transactions.

  • Contribute relevant information and research content to the DC Green Bank website.

    The Ideal Candidate

    The ideal candidate has experience in public and/or private investments and a background in clean energy and/or climate financing and/or blended finance. You are an acute financial decision-maker with a demonstrated ability to secure capital and source and close deals. You can creatively design and implement effective financial products and communicate these offerings clearly to the public. You are committed to engaging and partnering with stakeholders, especially in under-served communities. You may already have connections or experience collaborating with the non-profit, financial, energy, affordable housing, and public sectors. You are willing to take on additional responsibilities to fill in the needs of DC Green Bank. You are committed to tackling climate change issues at a local level for global impact and you will strive to bring an entrepreneurial and creative spirit to DC Green Bank.

    Minimum Qualifications

  • Advanced degree, preferably an MBA. Dual degree in environmental sciences, engineering, energy, related fields a plus

  • 8+ years prior experience in business development and financial services

  • Demonstrated written and verbal communication skills

  • Experience supervising staff

  •  Self-starter and capable of working under limited supervision

  • Commitment to the mission of the DC Green Bank

    Position Details

  • Status: Full-time

  • Location: Remote during DC’s stay-at-home order; Washington, DC required when

    stay-at-home order is lifted

  • Salary and Benefits commensurate with experience

  • To Apply

    Interested applicants should submit (1) a detailed cover letter expressing their interest and fit for the position, and (2) a CV/resume clearly outlining experience, abilities, and qualifications satisfying the needs of the organization. Please list the position in the subject of the email.

    Application materials should be sent to jobs@dcgreenbank.org. Applications will be accepted until the position is filled.

  • May 12, 2020
News
Press

Eli Hopson Hired To Be First CEO of the DC Green Bank

FOR IMMEDIATE RELEASE March 31, 2020

CONTACT:

Steven Jumper steven@ghostnoteagency.com

Eli Hopson Hired To Be First CEO of the DC Green Bank 

After a nationwide selection process, the DC Green Bank Board of Directors has hired attorney and clean energy expert Eli Hopson as the organization’s first Chief Executive Officer. The DC Green Bank is a newly created District institution created to accelerate the District’s low-carbon economy by mobilizing private finance for energy efficiency improvements and the expansion of renewable energy in the District. The DC Green Bank will also help create green jobs, lower energy costs, reduce greenhouse gas emissions, and help residents and businesses achieve greater sustainability goals.

“I am honored to have been selected as the first CEO of the DC Green Bank,” Hopson said. “DC is a world class city that I’m proud to call my home. I am committed to building the Green Bank into an organization that helps the District become one of the most sustainable places in the world, for all of its citizens.”

Hopson will officially begin as CEO on April 13, 2020. Prior to his hiring as CEO, he served as Vice President of Legal, Regulatory, and Policy at Cube Hydro Partners, and as Vice President of Legal and Chief Compliance officer at Eagle Creek Renewable Energy after Eagle and Cube merged. Hopson’s experience also includes roles at Latham & Watkins LLP, the Union of Concerned Scientists, the U.S. House of Representatives Committee on Science, and the Office of Energy Efficiency and Renewable Energy at the U.S. Department of Energy. He received his bachelor’s degree and Masters of Engineering in environmental engineering from the Massachusetts Institute of Technology, and a law degree from the Georgetown University Law Center.

“The Board of Directors is thrilled to now have the organization led by Eli Hopson, one of the nation’s leading experts on energy policy and project management,” said DC Green Bank Board Chair Brandi Colander. “We look forward to working with Eli as we continue to advance the Mayor’s commitment to inclusive prosperity across all eight wards. I want to especially thank the Mayor, Councilmember Cheh, and the Board of Directors for their support and commitment to this critical effort, even in the hardest of times.”

In 2018, DC Mayor Muriel Bowser signed the Green Finance Authority Establishment Act, officially making the District the first city in the country to establish a Green Bank. “With the current COVID-19 challenge we all face, the importance of accessible, affordable, and sustainable energy solutions for all District residents and businesses is greater than ever,” Hopson said.

For more information, visit dcgreenbank.org.

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News

Board Letter

May 8, 2020 Dear Neighbors, 

My name is Brandi Colander, and I am honored to serve as Board Chair of the District of Columbia’s Green Finance Authority, more commonly referred to as the DC Green Bank. Since the founding of the DC Green Bank, we have taken tremendous steps toward building the infrastructure of this entity that is charged with offering innovative financial tools to promote a more sustainable District by leveraging public and private investments. While we are still in the start-up phase, we have been hard at work implementing the legislation responsible for creating the DC Green Bank, establishing an operational Board of Directors, and hiring our inaugural CEO. The progress we’ve made in less than a year is a testament to the District’s commitment to building a more sustainable and resilient place for all of us. 

Green banks are not new concepts. We have the benefit of learning from the efforts of other jurisdictions, like Montgomery County in Maryland, Connecticut, Michigan, and New York City. Here in DC our mission is clear, the DC Green Bank works to increase access to funding for energy efficiency improvements and clean energy installations that make District households and businesses greener and create local jobs. We are providing funding to help decrease utility bills and save residents money, while reducing greenhouse gas emissions and protecting our environment. We are supporting clean energy employers and will preserve and create jobs. We are quite literally investing in the future of all DC residents and businesses.

 In the short-term, our immediate priority is to build a dynamic team of DC Green Bank staff to support this mission, and over the past few months, we have made significant strides toward the development of our green bank. We have a fantastic Board of Directors that continues to work hard to move this effort forward. I am grateful to the Board Members for their service and invite you to read more about them here. On April 13, Eli Hopson began his role as the CEO and Executive Director of the DC Green Bank. Eli is an attorney and clean energy expert, and the Board and I are thrilled that he has joined us in this leadership role given his commitment to working collaboratively with DC residents and businesses to develop accessible and affordable solutions. We encourage you to head over to our website to learn more about Eli and his appointment. In the coming months, we hope to add more members to the growing DC Green Bank team, and you can learn more about our career opportunities here. 

Globally, we are witnessing unpredictable and devastating impacts from the COVID-19 pandemic. The future feels tenuous to all of us. Yet, despite the uncertainty of it all, the DC Green Bank is focused on what we can control and how we can support the District during this time. That is why we proudly support the Mayor’s District Economic Recovery Team (DERT), created to proactively prepare and strategize long-term plans to restart the District’s social and economic spheres as we recover from the impacts of COVID-19. For more information on DERT, please visit the DC Government website here. We are confident that our efforts will prove essential as the District recovers from the pandemic and positions itself to remain a leader in tackling climate change and improving sustainability and resiliency. Our DC Green Bank products will lower barriers to adoption of clean energy technology and make energy projects more accessible and more affordable through financing instruments and incentives. These products enable home projects that reduce costs to residents, enhance energy efficiency and support clean energy companies. The DC Green Bank is a smart and proactive policy tool that empowers DC residents and businesses to more gracefully navigate the ongoing changes to the future of our energy landscape and meet our sustainability targets even amid a pandemic. 

As DC homeowners, Eli and I know firsthand that home upkeep can be costly. As Board Chair and CEO, we will keep the issue of equity and accountability at the forefront of what we set forth to advance our sustainability targets while spurring economic growth. District residents must have access to the financial tools and offerings that DC Green Bank seeks to deploy. These tools will assist residents across all wards of the District, enabling them to stay comfortably in their homes while reducing operating expenses over time by enhancing energy efficiency and renewable energy. 

The Board and I look forward to working with each of you to execute this critical mission. I want to thank Mayor Muriel Bowser and the DC Council for this opportunity and their leadership and support. Please visit our website at DCGreenBank.org and sign up for our email list to stay up to date. 

Sincerely, 

Brandi Colander, Board Chair | District of Columbia Green Finance Authority

  • May 10, 2020