Clean energy technology companies and project developers working on sustainable building have a new financing option for their projects. Generate, a sustainable infrastructure company, has launched a dedicated credit business to provide flexible financing to technology companies and project developers at the “forefront of the infrastructure revolution,” the company says.
Generate builds, owns, operates and finances solutions for clean energy, water, waste and transportation.
The world’s fight against climate change demands fast results, and credit is a critical part of the financial ecosystem for clean energy and sustainable infrastructure solutions, the company points out. Generate says its partners have been asking the company to take additional roles in financing, developing and deploying “proven solutions to some of the world’s most pressing problems.”
”…[I]t’s imperative to provide the right kind of capital at the right time to projects and companies who are driving the Infrastructure Revolution,” says Alfred Griffin, founding president of the NY Green Bank. Griffin has joined Generate to lead the new Generate Credit division.
Generate Credit will focus on the same areas that have been Generate’s core markets, including renewable power, energy efficiency, microgrids, energy storage, electric mobility, hydrogen, wastewater, waste management, and sustainable agriculture. Generate has made more than $600 million in similar types of clean energy loans since its founding.
Sustainable finance has a key role to play in mobilizing the necessary capital to deliver on climate and sustainability objectives. It helps ensure that investments support a resilient economy and a sustainable recovery from the impacts of the COVID-19 pandemic, according to the European Union website on green finance.