en.Wedoany.com Reported - Catalyst Power and the Connecticut Green Bank announced on June 16 that they have completed financing for five distributed solar projects located in Hartford and Trumbull, Connecticut, with a total installed capacity of 1,025 kilowatts (DC).
This project portfolio primarily consists of solar installations under 200 kilowatts mounted on commercial building rooftops. Such projects often face challenges in traditional financing pathways due to high fixed transaction costs for engineering review, underwriting, and structuring. Once operational, these projects are expected to reduce over 500 metric tons of carbon emissions annually.
Gabriel Phillips, CEO of Catalyst Power, noted that the Connecticut Green Bank is crucial to maintaining the momentum of commercial solar development in the state. He stated that as costs rise, financing complexity increases, and federal incentive policies become more volatile, the economics of projects of this scale are facing growing pressure, making deployment more difficult. Phillips believes that collaboration between green banks and commercial energy suppliers can help catalyze the scaling of commercial clean energy infrastructure and provide a reference for future clean energy investments in the state.
Bert Hunter, Executive Vice President and Chief Investment Officer of the Connecticut Green Bank, said this partnership reflects the bank's mission to accelerate investment in Connecticut's green economy. He noted that by working with private sector partners like Catalyst Power, barriers to project deployment can be reduced, private capital can be attracted to the state, and scalable clean energy development can be supported to benefit local communities.
The collaboration between Catalyst Power and the Connecticut Green Bank focuses on improving process efficiency through measures such as standardizing engineering processes, streamlining due diligence, and designing specialized workflows for distributed energy projects.
Catalyst Power is an energy supplier serving commercial and industrial customers, offering services to reduce costs and enhance budget certainty. Its core product is based on a hybrid supply model that combines electricity generated from energy production assets built, owned, and operated by the company at customer sites with market-based retail power. The company operates in deregulated electricity markets in the Northeast, Mid-Atlantic, and Midwest regions, covering 11 states and 33 utility territories. Supported by DRW Holdings and BP Energy Partners, Catalyst Power serves over 8,500 customers across manufacturing, industrial, multifamily housing, hospitality, higher education, commercial real estate, and other energy-intensive sectors.
The Connecticut Green Bank was established by the Connecticut State Legislature in 2011 as the first state-level green bank in the United States. The bank has supported the creation of nearly 30,000 green jobs in the state and alleviated energy cost burdens for over 71,000 households, businesses, and nonprofit organizations. By leveraging limited public resources to attract and mobilize private capital, the bank drives the development of Connecticut's green economy, having attracted over $3 billion in investments to the state's green economy to date.
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