ImpactAlpha, April 5 – The insurance company is investing $10 million in the Philadelphia-based community development finance institution’s new loan fund for small to mid-size clean energy projects. Buildings are responsible for almost 40% of US greenhouse gas emissions.
- Mid-sized opportunity… “The Clean Energy Fund will accelerate the availability of energy focused improvements for smaller- and mid-sized projects that represent so much of the built environment around us,” says MetLife’s Matt Sheedy.
- Energy services providers… The fund, modeled after common energy financing structures, will issue loans of up to $3 million for projects with Power Purchase Agreements and Energy Savings Agreements, both long-term contracts that secure revenues for clean energy generation and energy efficiency projects, respectively.
The Reinvestment Fund is rolling out a raft of new products. Last year, it raised $50 million with one of the first public bond offerings by a so-called community development finance institution, or CDFI.
The Reinvestment Fund’s Don Hinckle-Brown will join ImpactAlpha’s David Bank at the Total Impact Conference in Philadelphia, April 26–27. The event from Good Capital Project and ImpactPHL will feature tools and opportunities for advisors, families and investors. Register here for a $300 discount with code TI_ImpactAlpha.