Author: Gary Decker

(Washington, DC) – DC Green Bank and partners today announced the closing of $3.3 million in financial support for the new construction of an affordable housing development in Ward 8 and energy efficiency and renewable energy upgrades for a building in Ward 7. In addition to a $3 million construction loan from DC Green Bank, a $300,000 grant has been awarded to the developer through Capital Impact Partners’ Housing Equity Accelerator Fellowship, which is funded by Amazon’s Housing Equity Fund. Once completed, the properties will create 8 new and preserve 4 existing affordable housing units in total. The property developer and recipient of this grant, Ayesha Hudson, an alumna of Capital Impact Partners’ Equitable Development Initiative, is the Founder and CEO of A-Peace, LLC. For more than 20 years, Ayesha has been in the business of residential property ownership and management, with a focus on providing affordable housing for underserved communities.

“We are thrilled to work alongside Capital Impact Partners and Amazon to address the critical need for affordable housing in the District,” said Brandi Colander, Chair of the DC Green Bank Board of Directors. “This partnership reflects our shared commitment to supporting Inclusive Prosperity by providing affordable, sustainable housing solutions in communities all-too-often left behind. Ayesha Hudson’s vision for the development and the creation of a wellness center highlights the significance of investing in local developers who truly understand and care for their community.”

“We are proud to support real estate developers of color with the financial, knowledge, and social capital they need to grow their businesses, overcome systemic barriers, and help the communities they serve,” said Raymond Guthrie, Chief Investment Officer and Head of Capital Deployment for Capital Impact Partners, part of the Momentus Capital branded family of organizations. “This deal is not just an investment in residential development, but also an investment in the health, safety, and sustainability of the Washington metropolitan area. We are grateful to the Amazon Housing Equity Fund and DC Green Bank for their support of emerging developers like Ayesha, who are creating a future where everyone can thrive.”

“Amazon is grateful for the opportunity to partner with DC Green Bank and Capital Impact Partners to bring more affordable housing to the DC metro area. We are working hand-in-hand to support and uplift emerging developers who are at the forefront of community development,” said Senthil Sankaran, managing principal, the Amazon Housing Equity Fund. “Ms. Hudson’s holistic approach to real estate development is not only creating sustainable and affordable homes, but also supporting overall health and wellbeing. Together, we are making a positive, long-lasting impact on communities in DC.”

“I am immensely grateful to Capital Impact Partners because the Housing Equity Accelerator Fellowship program opened doors to opportunities I would not have had access to without their invaluable support,” said Ayesha Hudson. “The program helped to connect me with financial support from DC Green Bank and Amazon’s Housing Equity Fund to bring these impactful projects to life. Their investment will have a positive ripple effect in this community and across the city for generations to come.”

Click here to read the full release or view below.

(Washington, D.C.) – DC Green Bank and Uprise Solar today announced the closing of a $385,000 permanent loan to support the long-term viability of 187 kW’s of residential solar projects across DC. The loan supports the financing of a portion of an existing portfolio of solar projects and will consolidate previous construction loans into a permanent loan that will finance the operation of 24 residential solar projects in the District. These projects, now completed, are expected to generate approximately 3,500,000 kWh’s of renewable energy over 20 years. In addition, the projects will reduce GHG emissions by 2,660 metric tons of carbon dioxide equivalent over the same period. This is equivalent to the carbon dioxide emissions from 298,242 gallons of gasoline consumed or 2,932,507 pounds of coal burned. Uprise is a certified contractor with Solar for All, a program of the District’s Department of Energy and Environment (DOEE) and administered by the DC Sustainable Energy Utility (DCSEU), that works with local solar contractors to expand the deployment of solar and cut electricity costs for income-qualified residents by 50% or more. Additionally, these projects created 12 jobs, 8 full-time direct jobs, and 4 part-time jobs. The new debt structure will provide Uprise Solar with long-term financing, enabling them to scale their operations and continue deploying solar projects within the District.

“DC Green Bank is committed to filling financing gaps for growth-stage developers like Uprise, and supporting them through each phase of their growth,” said Jean Nelson-Houpert, Interim Chief Executive Officer and Chief Financial Officer of DC Green Bank. “Seeing Uprise Solar’s success and impact is a clear sign that investing in clean energy and local developers is a win-win for everyone.”

The original loan package consisted of two construction loans and a revolving line of credit. The financing was used to install the solar projects while supporting the operating costs of Uprise. The permanent loan will be used to support the ongoing operations of the solar projects. Now fully constructed, the solar projects will deliver clean energy to residents, reduce energy costs, and provide health benefits to the community.

“We worked with several financing organizations to make these 24 projects possible, and we are fortunate to have the DC Green Bank as one of our partners,” said Chris Sewell, CEO of Uprise Solar. “Their investments have enabled us to grow, allowing us to bring local jobs and clean energy to the city with a great market.”

Click here to read the full release or view below.

(Washington, D.C.) – DC Green Bank is proud to announce Trisha Miller as its next Chief Executive Officer. Ms. Miller comes to the bank after her recent service in the Biden – Harris Administration as a Senior Director in the White House Domestic Policy Office working on decarbonization policy and following a multi-decade career working at the nexus of climate change, clean energy, and inclusive development. She will officially begin her tenure at DC Green Bank on July 31.

“We are excited to have an experienced leader like Trisha Miller lead DC Green Bank into its next chapter. She has a demonstrated track record of putting climate, clean energy, and communities first and being guided by values that align with the mission of the bank,” said Brandi Colander, Chair of the DC Green Bank Board of Directors. “The Board is confident that Trisha is the right leader for this vital institution and we stand ready to support her work to ensure that DCGB remains an indispensable partner as the District strives to achieve its ambitious sustainability and equitable development targets. We want to thank our Chief Financial Officer and Interim-Chief Executive Officer, Jean Nelson-Houpert, for her service and dedication to the bank and for serving in this expanded capacity and leading the organization and staff in pursuit of our shared goals of a more resilient and inclusive DC for all.”

Ms. Nelson-Houpert has served in the Interim-Chief Executive Officer role since October 2022. “I want to thank the Board of Directors for their trust in my leadership to serve in this role and deliver operational excellence during a time of transition,” said Ms. Nelson-Houpert. “I am excited to work with Trisha to build on the impact the DC Green Bank team has delivered to date for communities across the District.”

DC Green Bank initiated full operations in April 2020, and Ms. Miller will join the institution shortly after the five-year mark since the creation of the bank was authorized under the leadership of Mayor Muriel Bowser and the DC City Council. “I am honored to serve as the CEO of DC Green Bank,” Miller said. “DC has been my home for nearly two decades, and I look forward to leading the bank and helping to ensure that our climate investments advance inclusive prosperity for all residents.”

To read the full press release, including a bio of incoming CEO Trisha Miller, please see below or download the press release.

(Washington, D.C.) – The DC PACE Program and Stonehill PACE program are proud to announce the successful closing of nearly $3.5 million in financing to deliver energy efficiency and renewable energy upgrades for a new construction multi-family development at 1966 9 ½ Street NW, in the U Street/Shaw neighborhood. The financing administered through the DC PACE program will provide substantial environmental benefits for the residents of the building, including 250,790 kWH of electricity savings, and 463,372 gallons of water savings. Additionally, these annual energy savings will result in reducing emissions by about 178 metric tons of CO2 annually, the equivalent of using 38 gasoline-powered passenger vehicles driven for one year or mitigating the average energy usage of more than 22 homes in one year. The 38-unit property will include 12 units that are designated for affordable housing with 3 units allocated to 30% Area Median Income (AMI) and 9 units allocated to 50% AMI.  

 “The DC PACE Program takes pride in supporting the revitalization project of 9 ½ Street, which includes the historic Grimke School and the African American Civil War Museum,” said Ronald Hobson, DC PACE Program Manager. “As we aim for a cleaner and more sustainable DC, we can also play an important role in preserving and honoring the history of these buildings and neighborhoods. Discovering that my own ancestor’s name, Fredrick Towles, was inscribed in the museum for his service as he fought for his own freedom and for this country in the Union Army was a poignant reminder of this responsibility.” 

“Stonehill is proud to continue our partnership with the DC PACE Program on this important project, which will provide much-needed affordable housing while also promoting sustainability,” said Jared Schlosser, Stonehill SVP. “We are committed to working together to support more projects like this that benefit the community and the environment as well as preserving our shared history.” 

 “The final phase of the Grimke School project is a long-awaited triumph for our team,” said Lynn Hackney, Principal, Community Three. “We are thrilled to strengthen our ongoing partnership with DC Green Bank’s PACE program, whose dedication to promoting sustainable development in the District has been unwavering. Together, we embark on an exciting journey towards a more inclusive and resilient future.” 

Click here to read the full release or view below.

(Washington, D.C.) – DC Green Bank and SEDC Solar today announced the closing of a $1.4 million construction revolving loan facility to finance a portfolio of solar plus battery storage projects for homes, rental units, and community-serving institutions in Wards 4, 5, 7, and 8 of Washington, D.C. Within the first year of the investment term, SEDC anticipates the installation of 1000 kilowatts of solar rooftop panels, resulting in an estimated greenhouse gas emissions reduction of up to 992 metric tons of CO2 equivalent per year for 20 years while also increasing both household and energy grid resilience due to the inclusion of battery storage. In line with DC Green Bank’s value of Inclusive Prosperity, the projects built in the first year will reduce the energy bills of 200 beneficiaries by approximately 50 – 80%, with roughly 75% of the recipients being Low- and Moderate- Income (LMI) households or community-serving organizations.

“We are thrilled to collaborate with SEDC Solar to finance this cutting-edge portfolio of projects that exemplifies a holistic approach to sustainability,” said Jean Nelson-Houpert, Interim Chief Executive Officer and Chief Financial Officer at DC Green Bank. “This effort is fully aligned with our mission and can be a demonstration case for combining clean energy, inclusive prosperity, and resilience, all while developing and employing the workforce of the future.”

“DC Green Bank is an indispensable partner for businesses across the District that are seeking to deliver sustainable projects and looking for financing to turn their vision into reality,” said Thomas Jones, President of SEDC Solar. “We are excited to get to work to bring these projects to life and change the way our communities think about energy in their day-to-day life – clean energy means good jobs, protection against rising utility bills, and a healthier future for our environment for generations to come.”

Click here to read the full release or view below.

(Washington, D.C.) – The DC PACE Program and United Bank are proud to announce the successful closing of $125,000 in financing to support clean energy and energy efficiency improvements for a commercial building in Ward 7. Administered through the DC PACE program, the financing will deliver green roofing upgrades and a 131-kW solar energy system, with upgrades already underway. This project will generate an annual energy savings of 47,611 kWH for the property, which is the equivalent of eliminating greenhouse gas emissions from 78 barrels of burned oil. Additionally, the solar roof is expected to deliver $131,137 in electricity bill savings over the lifetime of the upgrades.

“Financing this project is a testament to the PACE Program’s readiness to meet the needs of projects of any size,” said Ronald Hobson, DC PACE Program Manager. “These energy efficiency improvements will create big benefits for a property that serves some of the District’s youngest residents. We want everyone to be able to see how clean energy and energy efficiency can positively impact every corner and industry of the city.”

“The DC PACE Program is a key player in the District’s transition to clean energy and energy efficiency, and it was a pleasure to work with DC Green Bank to support this property on the pathway to sustainability,” said Joseph LeMense, Managing Director, Community Development & Nonprofit Banking, United Bank. “We are proud to have financed more than $8 million of DC PACE Program efforts since 2013, and this project showcases our continued commitment to promoting a greener future for the District and the positive impact we can achieve for our communities when we work together.”

Click here to read the full release or view below.

DC Green Bank, Connecticut Green Bank, and the Inter-Tribal Trade Consortium Join as Partners

Partners In Hawaii, Louisiana, Rhode Island, Ohio, Maryland, Florida, Texas, Michigan, Colorado, Missouri, and Puerto Rico Have Already Been Announced

Washington, DC— The Coalition for Green Capital (CGC) today announced the formation of additional new strategic partnerships with local green banks and clean energy lending experts, including the DC Green Bank, Connecticut Green Bank, and the Inter-Tribal Trade Consortium (ITTC). The growing coalition is preparing to seek funding from the Environmental Protection Agency’s (EPA) Greenhouse Gas Reduction Fund (GGRF) to launch a nationwide green bank.

The EPA has made clear that the primary objectives of the GGRF are to reduce greenhouse gas emissions, drive funds and projects in low-income and disadvantaged communities, and mobilize financing and private capital to stimulate additional deployment of resources.

“We are thrilled to welcome additional partners who will help us execute the nationwide green bank’s mission to deliver tens of billions in clean energy projects to low-income and underserved communities across the country,” said Eli Hopson, executive director and COO of Coalition for Green Capital. “Our growing coalition collectively boasts decades of experience facilitating public-private clean energy financing and is prepared to deliver over $13.5B in projects over the next several years. A centralized national entity, paired with this burgeoning network is best positioned to multiply the investment of the greenhouse gas reduction fund and ensure that communities facing the brunt of the climate crisis reap the benefits of this important work.”

“We believe that access to affordable capital and resources is key to accelerating the growth of the clean energy economy and we are committed to making sure that the benefits of that economy support the workforce of the future right here in the District while also delivering large-scale economic benefits to communities all-too-often left behind,” said Jean Nelson-Houpert, DC Green Bank Interim chief executive officer and chief financial officer. “The nationwide green bank will bring together the expertise and resources of the country’s leading green banks, community financial institutions, and clean energy investors and we are eager to contribute to this effort.”

“We are looking forward to the launch of the nationwide green bank and joining this robust network of green lenders and investors to deploy clean energy projects with a focus on underserved communities,” said Bryan Garcia, president and CEO of the Connecticut Green Bank. “The Connecticut Green Bank has deployed over $2.25 billion for clean energy projects, on average leveraging $7 in private capital for every $1 of public funds. The focus of the national green bank has always been on providing access to clean energy and green investment opportunities for underrepresented communities, and this partnership strengthens our ability to do so.”

“The nationwide green bank will multiply our ability to deliver clean energy projects to Tribal Nations and provide the technical support that will be needed to catalyze our transition away from fossil fuels,” said Bryan Porter, Shakohén:te’s and Benefactor of the Inter-Tribal Trade Consortium. “The greenhouse gas reduction fund represents a once-in-a-lifetime opportunity to stimulate billions in climate-conscious infrastructure and advance environmental justice for underserved communities, especially for Native Nations.”

CGC recently announced similar partnerships with Michigan Saves; Colorado Clean Energy Fund; Missouri Green Bank; Puerto Rico Green Energy Trust; Finance New Orleans; the Hawaii Green Infrastructure Authority (HGIA); CleanSource Capital; the Rhode Island Infrastructure Bank; Columbus Region Green Fund (CRGF); Solar and Energy Loan Fund (SELF); the Climate Access Fund; Clean Energy Fund of Texas; Growth Opportunity Partners, Inc.; and the Community Development Venture Capital Alliance (CDVCA).

The DC Green Bank provides access to capital, growing the clean economy to develop a more equitable, resilient, and sustainable Washington, DC. Their innovative financing solutions prioritize making the clean economy inclusive and affordable for DC residents, organizations, and businesses. DC Green Bank integrates and coordinates its financing with District initiatives, leading the way for DC to transition to a city that runs on 100% renewable energy, for a healthier, more resilient, and sustainable community.

The Connecticut Green Bank was established by the Connecticut General Assembly in 2011 as the nation’s first state-level green bank and has since supported the creation of more than 26,000 green jobs in the state, while reducing the energy cost burden on over 66,000 families, businesses, and nonprofits. The Green Bank’s vision is a planet protected by the love of humanity and its mission is to confront climate change by increasing and accelerating investment into Connecticut’s green economy to create more resilient, healthier, and equitable communities.

The Inter-Tribal Trade Consortium (ITTC) provides Native Nations with grant-writing, project management and other technical resources needed to access the billions of dollars appropriated to Tribal Communities by the federal government for clean/renewable energy, high-speed broadband and other infrastructure projects.

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ABOUT COALITION FOR GREEN CAPITAL
The Coalition for Green Capital (@CGreenCapital) is a non-profit with a mission to halt climate change by accelerating investment in clean energy technologies and by advocating for, creating and implementing green bank institutions. Green banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency and other decarbonization technologies. For over a decade, the Coalition for Green Capital has led the Green Bank movement, working at the federal, state and local level in the U.S. and in countries around the world. For more information, visit: https://coalitionforgreencapital.com/.

(Washington, D.C.) – DC Green Bank and Flywheel Development are proud to announce the closing of a $2.6 million pre-development and site acquisition loan to support the development of a sustainable commercial hub in the Trinidad neighborhood of Ward 5. The site will serve as the headquarters for Flywheel Development as well as space to bolster emerging local sustainability-focused businesses, including other solar contractors and developers. This project showcases several noteworthy design components aimed at achieving superior energy efficiency and environmental performance. The commercial hub will include rooftop solar and a building-integrated photovoltaic façade with a 102-kW capacity, generating 117.3 MWh of annual energy. The building will be designed to achieve net-zero on-site energy performance and will exceed the District-mandated stormwater management requirements as well. The project is slated to pursue passive house standards, further enhancing its energy efficiency and sustainability.

“We are proud to invest in the next phase of growth for Flywheel Development in the pursuit of our shared values,” said Jean Nelson-Houpert, Interim Chief Executive Officer and Chief Financial Officer at DC Green Bank. “Financing this groundbreaking project will deliver a national example of sustainable commercial development as well as support the expansion of the clean energy industry right here in the District.”

“DC Green Bank continues to be an unwavering partner in realizing our vision at Flywheel Development,” said Jessica Pitts, Co-Founder and CEO of Flywheel Development. “We are thrilled to bring our headquarters to Ward 5, and the Trinidad neighborhood. This project will not only serve the needs of our business, but it will also demonstrate that the District is a national leader in the solar industry and prioritizes delivering benefits to communities.”

Click here to read the full release or view below.