New York State of Opportunity – New York Green Bank, A Division of NYSERDA

RFI 7: Credit Enhancement for Tax Equity Providers in LMI Inclusive CDG Projects

Due Date:  04/20/2020  (Round 1)

Description

The objective of RFI 7 is to identify specific ways in which NY Green Bank can be helpful in increasing the availability of tax equity financing for CDG projects in NYS that offer LMI-inclusive subscription terms (short term contracts, indexed contracts, non-FICO approval customer credit approval approaches, etc.) by addressing existing market barriers and financing gaps that could impede project development. NY Green Bank seeks input from tax equity investors, contract/service providers, developers utilizing LMI-inclusive approaches to CDG that are in conversations with tax equity, and other market participants with a relevant perspective. Respondents will be invited to participate in conversations with NY Green Bank in the form of one-on-one meetings and/or broader stakeholder convenings.

The focus of these conversations will be to: (a) inform NY Green Bank of barriers preventing tax equity investors from committing capital to LMI-inclusive business models and (b) understand ways in which NY Green Bank may structure credit enhancement that would accelerate tax equity investment in LMI-inclusive approaches to CDG.

NY Green Bank will use the information received in response to this RFI to develop standardized tax equity credit enhancement structures for CDG projects or portfolios of projects.  Additionally, responses will broadly help inform NY Green Bank’s financing strategy for CDG projects outlined in RFP 10: Financing for CDG Solar Projects Including Projects Paired with Energy Storage.  All input will help NY Green Bank facilitate the construction of LMI-inclusive CDG projects in NYS, the development of a well-functioning tax equity finance market for such projects and increased energy choices and lower energy costs for all New Yorkers.

To respond to this RFI, please complete the RFI 7 Questionnaire. Responses are due to NY Green Bank by 3:00 p.m. EST on April 20, 2020 and should be submitted by email to solicitations@greenbank.ny.gov.  Please include “RFI No. 7” in the subject line.

Respondents should contact info@greenbank.ny.gov with any questions about the RFI.
 

Contact

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