Open Request for Proposals
DC Green Bank invites private sector capital providers, developers, contractors, and other clean and renewable energy industry participants to propose transactions involving collaboration with DCGB. Such transactions should be aimed at addressing financing market gaps and barriers and should ultimately support clean energy, clean transportation, clean water, stormwater management, energy efficiency, water efficiency, and/or green infrastructure projects in the District. This Request for Proposals (“RFP”) is specifically designed for larger projects or portfolios of projects, likely over $250,000.
DC Green Bank is an independent instrumentality of the District government created to increase the use of private funds for sustainable projects and programs by offering and promoting the use of loans, loan guarantees, credit enhancements, bonds, or other financing mechanisms for sustainable projects and programs. Specifically, the DC Green Bank aims to:
- Attract private capital by leveraging public investment;
- Use financial tools to increase capacity, accelerate lending, and recapitalize funds to support the Bank’s mission;
- Become a go-to resource for District residents, small business owners, and commercial developers interested in energy efficiency improvements, clean energy installations, and construction of green infrastructure; and
- Be a breakeven entity, where the revenues earned from financing activity cover its operating costs over the long term.
DC Green Bank invites private sector capital providers and other clean energy industry participants to propose transactions involving DC Green Bank that facilitate the financing of clean energy projects in the District, consistent with the DC Green Bank’s core objectives listed below.
DC Green Bank Core Objectives
- Provide environmental benefit to the residents of DC
- 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
Each submitted proposal must meet most, if not all, of the above core objectives. This RFP will remain open, and Proposals will be evaluated on a rolling basis, as received. Initial responses will be provided generally within 30 days. The purpose of an ongoing RFP process is to ensure that all potential proposers have an opportunity to propose transactions and financing arrangements, as market needs develop and change over time. 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. The financial self-sustainability objective includes an analysis of the impact on short and long-term portfolio risk and must be obtained at a reasonable level of risk to the DCGB.
Proposers can expect the initial response following DCGB’s receipt of a Proposal generally within thirty days from the date of such receipt.