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AP News

NY Green Bank seeks energy efficiency proposals

ALBANY, N.Y. (AP) — A new state program to boost private sector financing for clean-energy and energy efficiency projects in New York is seeking proposals from financial institutions, investors and industry participants.

Gov. Andrew Cuomo announced the New York Green Bank in his 2013 State of the State address. The administration announced Tuesday that the bank is open for business and seeking proposals.

The bank has initial capitalization of $210 million, including $165 million redirected from other clean-energy programs by the Public Service Commission and $45 million from the Regional Greenhouse Gas Initiative.

Projects supported by the Green Bank can include solar, wind and other renewable energy generation technologies. Also eligible are residential and commercial energy efficiency projects, on-site clean generation, and electricity load reduction.

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