NY Green Bank issues RfP for advisory services on capital raising plan

Solar system, New York. Author: Evan O'Neil. License: Creative Commons, Attribution 2.0 Generic

December 4 (Renewables Now) - NY Green Bank, which recently announced it seeks to raise at least USD 1 billion (EUR 845m) from private sector investors for clean energy projects, has issued a Request for Proposals (RfP) for advisory services on its plan.

The new RfP is directed towards firms that are interested in evaluating the potential fund structures, market participants and execution strategies. Ultimately, the company, or group of companies, that emerge as winners in the process will be the one to carry out the planned capital raise, NY Green Bank said in a statement.

As previously announced, NY Green Bank wants to collaborate with other states and philanthropic organisations to facilitate the creation of local green banks in other locations. It may provide financing and technical support, such as mid- and back-office services, due diligence and underwriting.

As of end-September 2017, the bank has committed more than USD 440 million of its capital in a drive to back total investments in New York State clean energy projects of up to USD 1.59 billion.

(USD 1.0 = EUR 0.844)

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