Greenwood Sustainable Infrastructure (GSI) is excited to announce that we have closed on a $10 million revolving credit facility with NY Green Bank (NYGB) to continue funding our development efforts on our portfolio of solar and storage projects throughout New York State.

This flexible financing solution allows GSI to reallocate invested capital from interconnection expenses into new development efforts across New York, leading to further growth of our solar and storage portfolios along with an increased clean energy footprint in the state.

Currently, GSI has a combined portfolio of 52 Solar PV and Battery Energy Storage Solution (BESS) projects under development and operations in New York, which is the equivalent to 350 MWdc in generation.

NY Green Bank is a New York State-sponsored investment fund dedicated to filling financing gaps in clean energy and sustainable infrastructure markets.

Building on our proven track record in New York, with several projects slated for construction in 2024, our collaboration with NY Green Bank signals the continued upward trajectory of GSI within the renewables industry in New York.

“Securing this revolving credit facility with NY Green Bank is integral to GSI’s ongoing efforts to expand our renewable energy footprint in New York, while also demonstrating confidence in our approach to navigating its nation-leading clean energy landscape.” said Joseph Sacks, CFO, Greenwood Sustainable Infrastructure. “The continued development and construction of these projects will have a significant and immediate positive economic impact in upstate New York while providing direct economic and environmental benefits to residents of the state for decades to come.”

GSI is proud to partner with NY Green Bank on this groundbreaking deal and we are looking forward to the opportunity to continue our vision of creating a sustainable environment for future generations, by advancing the use of clean energy.