Ygrene, partner of Invest Atlanta on the new clean energy financing program in Atlanta
PETALUMA, Calif .– (COMMERCIAL THREAD) – Ygrene, the leading national provider of evaluated clean energy finance for commercial property (C-PACE), today announced its partnership with Invest Atlanta on a new C-PACE program in Atlanta that offers an alternative to traditional options for energy efficiency, water conservation and improvement of renewable energy in new and existing buildings, as well as retroactive financing of completed projects. With Ygrene’s extended terms and fixed rate financing, homeowners can conserve capital and lower costs over the long term.
“By encouraging energy and water improvements for qualifying properties, we will create jobs and meet the city’s broader sustainability goals while upgrading buildings across the city for more efficient use,” said Eloisa Klementich, President and CEO of Invest Atlanta. “We are excited to launch a program that will help Atlanta meet its goal of 100% clean energy by 2025. ”
“We are excited to partner with the City of Atlanta to help strengthen the city’s sustainability leadership by providing Ygrene funding for a wide range of projects and upgrades to thousands of commercial properties, including new developments and the much needed overhaul of buildings across the city. Ygrene has provided essential financing for more than 1,400 commercial property improvement projects across the United States – representing over 50% of all C-PACE transactions – providing this smart and innovative financing solution to support development and business growth. We look forward to doing the same for Atlanta and building a successful long-term partnership, ”said Jim Reinhart, CEO of Ygrene.
Ygrene offers 100% fixed rate off-balance sheet financing with terms of up to 20 years. Financing amounts are flexible to support multiple types of properties, from small and medium complexes to large commercial complexes, up to 10%, or more, of the building value. The reimbursement is made by means of special annual tax assessments. The program will be administered by Invest Atlanta, the economic development authority for the city of Atlanta. Information on the program and application procedures are available on The Invest Atlanta website.
Atlanta City Council approved the creation of the PACE program in June 2017 through an ordinance that included a public-private partnership agreement with Ygrene. Subsequently, the board of directors of Invest Atlanta unanimously authorized $ 500 million in bonds for the program. The city of Atlanta has been a leader in the Better Buildings Challenge effort to make commercial buildings more efficient and currently leads all participating cities with over 110 million square feet of space dedicated to this effort. To date, 586 structures have reduced their energy consumption by 17%. Last year, Atlanta City Council unanimously passed a resolution setting the city-wide goal of switching to 100% renewable energy by 2035. Ygrene is proud of provide an essential tool to help the city of Atlanta achieve this impressive goal.
About Ygrene Commercial
Ygrene is the national leader in the financing of clean energy valued in commercial ownership (C-PACE). For homeowners looking to lower their monthly costs, preserve their capital and increase the value of their properties, Ygrene offers financing for the improvement of new or existing buildings, as well as retroactive financing with reimbursement through ‘annual special tax assessments. Ygrene-funded C-PACE projects are estimated to have created over 2,900 years of employment and over $ 400 million in local economic output, while reducing lifetime carbon emissions by approximately 450,000 metric tonnes – without the use of tax money or public credits. Learn more about ygrene.com/commercial.