In 2011, the state established the nation’s first state green bank, the Connecticut Green Bank (CGB). Over the last six years, CGB has used $174.6 million of ratepayer funds to attract $914.8 million of private investment in clean energy for a total investment of $1.1 billion. New York established its own green bank, New York Green Bank (NYGB), in 2014 as a product of Governor Cuomo’s Reforming the Energy Vision (REV) strategy. NYGB has invested more than $345 million in clean energy across New York State since inception, investments that support clean energy projects with total project costs between $1.0 and $1.4 billion. Developing a new, stand-alone Green Bank, an institution dedicated to financing clean energy and green infrastructure in partnership with private lenders.

Source: Forbes December 06, 2017 16:52 UTC