US Zions Bancorp to provide funding for sustainable energy projects

(ADPnews) - Nov 4, 2010 - US bank holding company Zions Bancorporation (NASDAQ:ZION) and its subsidiary National Bank of Arizona (NBA) on Tuesday announced the launch of Zions Energy Link, a division that will specialise in the sustainable energy finance sector.

Zions Energy Link will provide financing solutions for energy efficiency and renewable energy projects in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. It will review funding opportunities of both large and small projects, with current projects in the pipeline ranging from less than USD 10 million (EUR 7.1m) to more than USD 100 million.

Zions Energy Link will provide financing for all levels of sustainable initiatives including residential, commercial and utility-scale projects. The Energy Link lending team is actively seeking financing opportunities that will access billions of dollars of loan guarantees available from the Department of Energy's and Department of Agriculture's loan guarantee programmes as well as other government programmes in conjunction with its Washington, D.C.-based partner, Interlink Capital Strategies.

Craig Robb, a former NBA CFO, has been appointed managing director of Zions Energy Link.

(USD 1.0 = EUR 0.712)

Choose your newsletter by Renewables Now. Join for free!