News & Events Archives - Inclusive Prosperity Capital

Inclusive Prosperity Capital, Inc. and the Community Power Coalition “Powering America Together” Program Selected by U.S. Environmental Protection Agency for Solar for All Award

The Community Power Coalition Will Build the Capacity of Mission-Focused Community Solar Developers Across the Country and Scale New Models that Deliver the Benefits of Solar, Resilience, and Empowerment in Partnership with Low-Income and Disadvantaged Communities For immediate release Washington, DC (Earth Day, April 22, 2024) – Today, the Environmental Protection Agency (EPA) announced its selection of Inclusive Prosperity Capital, Inc. (IPC) and the Community Power Coalition for an award of $249.3 million from Solar for All for their “Powering America Together” program. The program, which covers 44 states and territories along with all 10 EPA regions, aims to bring significant benefits to Americans in low-income and disadvantaged communities. It will achieve this through community solar projects that lower energy costs, create quality jobs, build community wealth, enhance energy resilience, and promote fair workforce development. Solar for All, which is one of three competitions under the Biden-Harris Administration’s Greenhouse Gas Reduction Fund, is a historic $7 billion investment to enable low-income and disadvantaged households across America to access the benefits of low-cost solar energy. “Today we’re delivering on President Biden’s promise that no community is left behind by investing $7 billion in solar energy projects for over 900,000 households in low-income and disadvantaged communities,” said EPA Administrator Michael S. Regan. “The selectees will advance solar energy initiatives across the country, creating hundreds of thousands of good- paying jobs, saving $8 billion in energy costs for families, delivering cleaner air, and combating climate change.” The Community Power Coalition, led by IPC and comprised of Black Owners of Solar Services, Clean Energy Group, Coalition for Community Solar Access, Community Housing Capital, GRID Alternatives, Interstate Renewable Energy Council, People’s Solar Energy Fund, ROC USA, and the University of New Hampshire Carsey School Center for Impact Finance, shares a commitment to a community-centered model of lowering energy costs for families, creating quality jobs, advancing climate justice, and empowering low-income and disadvantaged communities to develop solar solutions that fit their unique needs. The Community Power Coalition members have worked with the Department of Energy’s Community Power Accelerator and National Community Solar Partnership as developers, financing partners, trainers, and technical assistance providers. Coalition members also bring expertise in solar financing, workforce development, BIPOC entrepreneurship, affordable housing, and policy. The coalition aims to increase the capacity and deployment of mission-driven, community-based solar developers throughout America. “We are thrilled to be chosen for the EPA’s Solar For All program and to lead the Community Power Coalition,” said Kerry O’Neill, CEO of Inclusive Prosperity Capital, Inc. “The Community Power Coalition is eager to build a movement of community-based solar developers who are committed to providing significant benefits to low-income and disadvantaged communities. We are grateful to EPA for the opportunity to be part of this historic investment to bring the benefits of solar to communities all across the country.” Through its Powering America Together program, the Community Power Coalition will focus innovation and scaling on community solar models that provide multiple meaningful benefits: Community-owned models seeking to build wealth for low-income and disadvantaged communities Affordable multifamily housing models benefitting low-income tenants in regions without enabling community solar policy Resident-owned-community models for solar in cooperatively owned manufactured home developments Models aligned to the requirements of rural regions, generating additional wealth for rural landowners and rural electric cooperative ownership Models that integrate developers and equitable workforce development The coalition’s program(s) will offer a variety of low-cost financial assistance, including predevelopment and construction financing, bridge loans for tax credits, permanent financing, and grants to support community solar projects. This includes financing for interconnection costs and upgrades, with a focus on using Solar for All funds to bridge financing gaps and maximize other financing resources. The coalition also aims to expand community solar access for low-income and disadvantaged communities in nascent state markets. Education and technical assistance on community solar models and supportive regulations will be provided by the Community Power Coalition. Additionally, financing incentives will be offered for projects in states that reduce regulatory barriers, and support will be given to mission-driven, community-based developers testing innovative approaches. The program’s broad technical assistance scope will include connecting developers to local workforce development ecosystems, expanding the Community Power Accelerator training program, providing hands-on assistance for challenges like interconnection and project finance, and offering community engagement and culturally appropriate outreach. The coalition will have a dedicated focus on building the capacity of community solar developers from under-represented backgrounds. In all, with a strong commitment to community-centered solutions, this groundbreaking initiative not only aims to lower energy costs, create quality jobs, and enhance energy resilience but also to empower low-income and disadvantaged communities to shape their sustainable future. Through collaboration, innovation, and a dedication to climate justice, the program’s enduring legacy will be the cultivation of an ever-growing network of mission-driven developers who advance climate equity through community solar, driving positive transformations in communities disproportionately affected by climate change. Read the EPA’s official press release here. Details about the EPA’s Greenhouse Gas Reduction Fund, including Solar for All, can be found here. About Inclusive Prosperity Capital, Inc. Inclusive Prosperity Capital, Inc. (“IPC”) is a national mission-driven nonprofit clean energy financing platform scaling solutions that channel investment capital to communities that need it most through mission-aligned program partners. IPC operates at the intersection of community development, clean energy finance, and climate impact. We believe everyone should have access to the benefits of clean energy, helping to deliver inclusive prosperity. For more information about Inclusive Prosperity Capital, Inc., please visit https://www.inclusiveprosperitycapital.org.

Inclusive Prosperity Capital, Inc. and the Community Power Coalition “Powering America Together” Program Selected by U.S. Environmental Protection Agency for Solar for All Award Read More »

Justice Climate Fund Selected for the Greenhouse Gas Reduction Fund’s Clean Communities Investment Accelerator Program by EPA

News & Events

Hartford, CT (April 4, 2023) – Inclusive Prosperity Capital, Inc. (IPC) today issued the following statement regarding the Environmental Protection Agency (EPA) announcement that the Justice Climate Fund (JCF) has been selected to begin award negotiations for the Greenhouse Gas Reduction Fund (GGRF) Clean Communities Investment Accelerator (CCIA) program. IPC is a proud partner in the JCF Coalition. Inclusive Prosperity Capital, Inc. (IPC) thanks the Biden Administration and the EPA for selecting the Justice Climate Fund (JCF) to begin award negotiations for the GGRF CCIA program. These federal investments will help our country meet climate goals and reduce air pollution, advancing a better future for rural and urban families alike, including the communities we serve. In addition to reducing carbon emissions, the investments will also deliver greater economic security, creating better-paying jobs and opportunities for small businesses across America while also fostering financial inclusion via America’s Main Street financial institutions — the very community lenders that have delivered, for decades, financial opportunity, security and prosperity to struggling Americans. JCF’s network of community lenders serves 281 million Americans — or almost 86% of this nation — and includes more than 1,000 CDFIs across every state in the nation and multiple territories. IPC welcomes the opportunity to work through JCF to collaborate with the EPA to bring climate solutions, and their many benefits, to our nation’s communities and homes.

Justice Climate Fund Selected for the Greenhouse Gas Reduction Fund’s Clean Communities Investment Accelerator Program by EPA Read More »

Inclusive Prosperity Capital, Inc. Celebrates the Announcement of $20B in Greenhouse Gas Reduction Funds by EPA

News & Events

Hartford, CT (April 4, 2023) – Today, Inclusive Prosperity Capital, Inc. celebrates a monumental moment – the historic announcement by the Environmental Protection Agency (EPA) of the 8 organizations selected to receive $20B of Greenhouse Gas Reduction Funds. This transformative investment will create a national clean financing network and deliver much-needed support to low-income and disadvantaged communities and those most impacted by climate change. IPC congratulates Climate United, Coalition for Green Capital, and Power Forward Communities for being selected for the National Clean Investment Fund and Opportunity Finance Network, Inclusiv, Native CDFI Network, Inc., Appalachian Community Capital, and Justice Climate Fund for being selected for the Clean Communities Investment Accelerator. IPC is proud to be a part of the Justice Climate Fund and OFN applications and to support the Inclusiv and Power Forward Communities programs. In the coming months and years, we look forward to our continued collaboration with so many partners and friends in each of the coalitions selected today. In 2018, we set out with the mission to catalyze clean energy finance in underserved communities, and we’ve been working towards this moment with so many dedicated people and organizations for a very long time (too many to name!). We thank the Biden Administration and the EPA for their continued commitment and work in making this happen, and we are excited to partner with the recipients to ensure no one is left behind in the clean energy transition. Learn more about this historic announcement by reading the official EPA press release.

Inclusive Prosperity Capital, Inc. Celebrates the Announcement of $20B in Greenhouse Gas Reduction Funds by EPA Read More »

Montgomery County Green Bank and Inclusive Prosperity Capital partnership will support the completion of a combined 1.97 MW rooftop solar array at Seneca Village

News & Events

Montgomery County, MD (August 23, 2023) – A new partnership between the Montgomery County Green Bank and Inclusive Prosperity Capital (IPC) will support the completion of a combined 1.97 MW rooftop solar array at Seneca Village, a 58-building, 684-unit affordable housing apartment complex in Gaithersburg, MD. Upon completion in fall 2023, the project will be the largest rooftop solar project on multifamily affordable housing in Montgomery County. The project was catalyzed by a $5 million financing from the Montgomery County Green Bank as the lead lender, and participations from NYCEEC and Virginia Community Capital to install new energy-efficient roofs throughout the complex. Inclusive Prosperity Capital provided a subsequent $2.5 million loan to support the installation of the rooftop solar arrays. This marks the first transaction in which IPC and the Montgomery County Green Bank have partnered. “Leveraging innovative partnerships to establish flexible financing structures for clean energy initiatives is a fundamental component of the Montgomery County Green Bank’s mission,” says Montgomery County Green Bank’s CEO, Steve Morel. “We are excited to join forces with Inclusive Prosperity Capital to amplify funding for Montgomery County’s most significant solar venture at Seneca Village Apartments. We are enthusiastic about this initial endeavor and anticipate that it will be the first of numerous collaborative projects ahead.” “Inclusive Prosperity Capital is thrilled to partner with Montgomery County Green Bank in supporting the Seneca Village project, the largest integrated affordable housing and renewable energy project in the County,” said Kerry O’Neill, IPC’s CEO. “This initiative aligns perfectly with our mission to partner with green banks, developers, and lenders across the country focusing on underserved markets and communities that are too often left out of the benefits of the clean energy transition.” Kristine Musademba, Associate Manager of Clean Energy Transactions at IPC added, “We are proud to support the largest project of its kind in the County with this creative financing solution that can serve as a model for future clean energy projects on multifamily affordable housing. We look forward to continued collaboration with Montgomery County Green Bank and other like-minded partners in the months and years to come.” With the solar array and new energy efficient roof upgrades, Seneca Village Apartments is projected save 2,583,535 kWh in energy, generate more than $300,000 in annual savings, and mitigate 2,000 metric tons of carbon dioxide greenhouse gas emissions per year. About the Montgomery County Green Bank The Montgomery County Green Bank is an independent, 501(c)(3) nonprofit dedicated to helping businesses and residents affordably implement energy efficiency and clean energy solutions. The Montgomery County Green Bank supports Montgomery County, MD by driving investment into energy efficiency and clean energy through lending and investment partners in the region. These efforts include working with homeowners, renters, and commercial entities of all varieties. For more information, visit www.mcgreenbank.org. Media contact: Tyniah McDuffie, Director of Communications About Inclusive Prosperity Capital Inclusive Prosperity Capital, Inc. (“IPC”) is a not-for-profit clean energy investment fund scaling financing solutions for traditionally underserved markets and credits. IPC maintains a robust solar development, lending, and ownership platform focused on traditionally underserved markets including projects on municipal, nonprofit, faith-based, small-to-medium commercial business, affordable housing, rural cooperatives, and tribal land properties. We believe everyone should have access to the benefits of clean energy, helping to deliver Inclusive Prosperity. For more information about Inclusive Prosperity Capital, please visit https://www.inclusiveprosperitycapital.org.

Montgomery County Green Bank and Inclusive Prosperity Capital partnership will support the completion of a combined 1.97 MW rooftop solar array at Seneca Village Read More »

$12M Loan to High-Impact Residential Solar Provider PosiGen, Catalyzing the Energy Transition in Lower-Income American Communities

News & Events

Inclusive Prosperity Capital recently partnered with the Connecticut Green Bank and ImpactAssets to extend a catalytic $12 million bridge loan to PosiGen, the nation’s leading residential solar and energy efficiency provider for low-to-moderate income (LMI) homeowners, instantly boosting their cash flow and enabling the immediate deployment of solar and energy efficiency upgrades in LMI communities. The loan provides short-term liquidity against the to-be-realized value of low-income Investment Tax Credit adders under the Inflation Reduction Act. “IPC is thrilled to partner with the Connecticut Green Bank and ImpactAssets to support PosiGen with tax credit bridge financing, unlocking capital right now to the benefit of families suffering high energy burdens,” said Kerry O’Neill, CEO of Inclusive Prosperity Capital. “This type of creative structuring for an innovative leader like PosiGen is exactly what is needed to ensure no one is left behind in the clean energy transition.” Read the full announcement

$12M Loan to High-Impact Residential Solar Provider PosiGen, Catalyzing the Energy Transition in Lower-Income American Communities Read More »

Smart-E Loan GGRF Solar for All Webinar

News & Events

Registration is open! Join us on July 25th to discover how Inclusive Prosperity Capital’s Smart-E Loan Program can bolster your GGRF Solar For All applications! Our CEO, Kerry O’Neill, and Madeline Priest, our National Director of the Smart-E Loan Program, will be sharing tools and strategies aimed at strengthening your applications. During this interactive webinar, you will: -Get a refresher on Smart-E. -Gain insights into our Smart-E national expansion efforts. -Learn how Smart-E can amplify your campaigns by leveraging Solar For All funds to drive more solar, storage, and enabling upgrades. By attending, you’ll walk away with: -Proven campaign strategies to enhance your Solar For All application. -A ready-to-use letter of support template. -An interest rate buydown tool. Register here: https://lnkd.in/ehmmMUhc Can’t make it to the live session? The webinar will be recorded for your convenience. Register now to secure your spot and receive access to the recording along with any follow-up materials. Learn more about Smart-E

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Inclusiv Center for Resilience & Clean Energy Expanding ‘Smart E-Loan’ Program to 3 States

News & Events

NEW YORK–The Inclusiv Center for Resiliency and Clean Energy and Inclusive Prosperity Capital (IPC) have partnered to expand the “Smart-E Loan,” IPC’s national residential green lending program, to New Mexico, Arizona, and Texas, according to the organizations. Inclusiv said the expansion is being made possible due to philanthropic support from The Wells Fargo Foundation and the Community Investment Guarantee Pool. To mark the partnership, the organizations said Guadalupe Credit Union in Santa Fe will host a Home Energy Earth Day Celebration for local community-based lenders, home energy contractors, and local homeowners at its airport branch. “The Smart-E Loan connects local community-led lenders with a network of vetted and approved contractors to help homeowners, including low- and moderate-income (LMI) homeowners, finance and implement home energy and water efficiency, clean energy, and climate resiliency projects,” The Inclusiv Center said. “The program helps homeowners save on utility bills by financing home improvements via flexible, low-interest loans and strong consumer protections.” More Than $540M in Improvements The organizations noted that since 2009, Connecticut, Michigan, and Colorado have been offering the Smart-E Loan and similar products, and that more than 44,000 homeowners across the three states have made more than $540 million worth of home improvements that reduced energy bills and “helped to make their homes more comfortable.” “We’re seeing demand nationwide for a financing solution that will allow homeowners to afford the more energy efficient and green choice for their home,” said Kerry O’Neill, CEO at Inclusive Prosperity Capital. “This loan program also helps local businesses grow by giving contractors access to community lenders that help them serve even more customers. We’re thrilled to bring the Smart-E Loan’s affordable solution to communities across New Mexico, building on years of experience and success working with local lenders, contractors, and homeowners (in other states).” A ‘Burgeoning Field’ The Inclusiv Center for Resiliency and Clean Energy said it leads the burgeoning field of community-based finance for climate action. “The Center drives affordable financing to rural, Tribal, environmental justice, and energy communities to help grow local cleantech markets and reduce greenhouse gas emissions,” the organization stated. Inclusiv, in partnership with the Center for Impact Finance at University of New Hampshire’s Carsey School of Public Policy (UNH), said it runs a robust training program and network for community-based lenders – including Community Development Credit Unions (CDCUs), Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), and community development banks – that are driving equitable decarbonization across the country. “The lenders that the Inclusiv Center for Resiliency and Clean Energy supports have transformed access to clean energy and energy efficiency in LMI and BIPOC communities, particularly in areas that lack local support for climate action,” the organization said. “In just over two years, this training program has guided close to 200 community-based financial institutions across the U.S. to develop affordable financing for decarbonization and nearly 400 credit unions across the country already offer dedicated green loan products. A sample of just 73 of these lenders reported investing over $2.24 billion in green loans in the past 2-4 years, including financing solar installations to serve almost 20,000 households.” According to the organizations, many of these same community lenders are using the Smart-E Loan program to reach LMI homeowners and communities historically marginalized by the financial system. ‘Building Financial Empowerment’ “Guadalupe Credit Union, a CDFI and MDI that is building financial empowerment in Santa Fe and Northern New Mexico, will fulfill this mission by offering the Smart-E Loan to homeowners of color and immigrant homeowners, who have limited access to safe and affordable loans,” the Inclusiv Center said. “In addition to the climate benefits of reducing greenhouse gas emissions, the program can help lower homeowners’ energy bills, increase their financial well-being, and may even increase their property values.” The Inclusiv Center for Resiliency and Clean Energy and Inclusive Prosperity Capital said they are partnering with local groups in New Mexico that include the Credit Union Association of New Mexico, New Mexico Renewable Energy Industries Association, the Santa Fe Chamber of Commerce, the City of Santa Fe and others to bring the Smart-E Loan to the state. ‘Important Step Forward’ “This collaborative pilot to bring the Smart-E Loan program to New Mexico is an important step forward in expanding access to affordable green loans nationwide through innovative green lending platforms,” said Cathie Mahon, president/CEO, Inclusiv. “The lessons learned in New Mexico will help our organizations build credit unions’ green lending capacity nationally,” Link to article

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$2.5 million, 12+ year guarantee will expand IPC’s Smart-E Residential Green Lending Program

News & Events

CIGP Closes Multimillion Dollar Guarantee to Inclusive Prosperity Capital (“IPC”) to Expand Residential Green Lending to Low/Moderate-Income and BIPOC Homeowners The $2.5 million, 12+ year guarantee will expand IPC’s Smart-E Residential Green Lending Program January 23, 2023 – In late December 2022, Community Investment Guarantee Pool (“CIGP”) announced the issuance of a $2.5 million, 12+ year guarantee to expand Inclusive Prosperity Capital Inc.’s (“IPC”) Smart-E Residential Green Lending Program (“Smart-E Program” or “Program”) and to demonstrate that unsecured residential green lending to predominantly low/moderate-income and/or Black, Indigenous, People of Color (BIPOC) homeowners can be a successful business line for credit unions and other community lenders. CIGP’s guarantee will start at $1 million and expand to $2.5 million as the Smart-E program ramps up. IPC projects that CIGP’s guarantee will ultimately credit enhance nearly 2,000 Smart-E loans over the next four years, totaling about $24 million. The Smart-E Program creates greater access to the residential clean energy and energy efficiency marketplace for community-based lenders, local contractors, and low- and moderate-income (LMI) homeowners through a comprehensive program that includes:• Loan product and process standardization• Online project management tool (called NGEN)• Contractor screening and oversight. “We are thrilled to be able to leverage CIGP’s guarantee to bring our Smart-E Program to more communities of color and low and moderate-income homeowners,” said Kerry O’Neill, IPC’s CEO. “CIGP’s support has allowed us to launch our Smart-E national expansion and reflects IPC’s belief that everyone should have access to the benefits of clean energy and resilience, especially those who have been most impacted by climate change and historically have not been well served by traditional lending.” “Partnering with IPC and community development credit unions to enable low-income and BIPOC homeowners to make green upgrades demonstrates the catalytic value of CIGP’s guarantees for climate equity,” said Jim Baek, CIGP’s Executive Director. He added, “As investments in sustainability accelerate with the enactment of new federal programs, we’re hopeful that initiatives like Smart-E provide the road map and market insights needed to facilitate a just green transition.” “Inclusiv is proud to connect high-impact credit union lenders with the Smart-E program that will dramatically expand clean energy and energy efficiency lending to low- and moderate-income people and households,” said Cathie Mahon, President/CEO, Inclusiv. The model for the Smart-E Program operates in three states (Connecticut, Michigan, and Colorado) with 18 active lenders participating. Approved contractors offer 40 different green upgrades, including solar, energy efficiency, HVAC, and more. To date, $500 million in these unsecured loans have been originated, helping over 35,000 homeowners, 45% of whom are LMI. IPC is now partnering with Inclusiv, the largest membership organization for Community Development Credit Unions (CDCU), and the University of New Hampshire (UNH), as a data and training resource, to expand the Smart-E platform nationally. This expansion is starting in New Mexico, Arizona, and Texas where Inclusiv has 40 CDCU members and another 55 credit unions that are part of its Center for Resiliency and Clean Energy network. These 95 credit unions serve 5.6 million members in the three states with the CDCUs primarily serving LMI and/or BIPOC communities. Nationally, Inclusiv’s network of credit unions serves over 18 million members in various LMI urban, rural, and reservation-based communities and represents over $261 billion of community-controlled assets. The Smart-E Loans are unsecured, and CIGP will only backstop loans to borrowers with FICO credit scores below 720. If successful, CIGP’s guarantee will demonstrate the degree to which unsecured consumer green lending can be made to a broader set of homeowners beyond the current market focus on higher income borrowers. While green lending in the US is still primarily focused on upper- and upper-middle-income, largely white, borrowers, IPC’s national expansion of the Smart-E Program, starting in the Southwest, is designed to “democratize” access to green loans; at least 50% of CIGP backed Smart-E loans are expected to be to LMI and BIPOC households. In addition to yielding climate benefits from the reduced use of fossil fuels, successful Smart-E installations will lower energy bills, increasing housing stability and property values for homeowners. About CIGP The Community Investment Guarantee Pool (CIGP) is a financing tool launched in December 2019 by impact investing organizations to create a pooled commitment of financial guarantees for intermediaries in affordable housing, small business and climate finance. CIGP accelerates community investments by more fully leveraging philanthropic balance sheets for mission. The initial guarantors that helped make CIGP possible are The Kresge Foundation, The Annie E. Casey Foundation, The California Endowment, Chan Zuckerberg Initiative, Common Spirit Health, Gary Community Investments, Jessie Ball duPont Fund, Phillips Foundation, Seattle Foundation, Virginia Community Capital, and Weingart Foundation. Since launch, the Robert Wood Johnson Foundation, Arnold Ventures, Winthrop Rockefeller Foundation, the California Wellness Foundation and the Sierra Club Foundation have also joined as guarantors. Learn more about CIGP by watching this short video produced by The Kresge Foundation. About LOCUS Impact Investing LOCUS serves as program manager for the Community Investment Guarantee Pool. LOCUS is a national non-profit consulting organization and registered investment advisor that works with foundations and mission-driven investors wherever they are on their local impact investing journey to help them create lasting, meaningful change in their communities. LOCUS partners with mission-driven institutions to unlock more of their assets and deploy dollars to catalyze equitable economic development and make community-informed investments guided by innovative, effective and equitable practices. LOCUS is a wholly owned subsidiary of the non-profit, VCC Social Enterprises. For more information about LOCUS visit: https://locusimpactinvesting.org/. About Inclusive Prosperity Capital (IPC)Inclusive Prosperity Capital, Inc. (“IPC”) is a not-for-profit investment fund scaling clean energy financing solutions that channels investment capital to program partners in communities that need it most. As a spin-out and strategic partner of the Connecticut Green Bank, IPC is focused on scaling and expanding its successful model nationwide by accessing mission-driven capital and partnerships. IPC operates at the intersection of community development, clean energy finance, and climate impact. Link to article

$2.5 million, 12+ year guarantee will expand IPC’s Smart-E Residential Green Lending Program Read More »

REQUEST FOR PROPOSALS (RFP): Solar engineering services and operations and maintenance provider for commercial-scale solar portfolio

News & Events, RFPs

REQUEST FOR PROPOSALS FOR SOLAR ENGINEERING SERVICES AND OPERATIONS & MAINTENANCE PROVIDER FOR COMMERCIAL SOLAR PORTFOLIO I. PURPOSE Inclusive Prosperity Capital (“IPC”) is seeking proposals from qualified contractors (“Contractor”) to provide operations and maintenance and engineering services for IPC’s commercial-scale solar asset portfolio. II. IPC BACKGROUND Inclusive Prosperity Capital, Inc. is a not-for-profit investment fund that scales energy financing solutions through program partners into projects in underserved markets and communities. Existing at the intersection of clean energy finance, community development, and climate impact, IPC seeks to increase capital access for low-to-moderate income communities and unconventional credits such as non-profits, faith-based institutions, affordable housing providers, schools, and small businesses. Through our suite of financing products and channel partner network, IPC seeks to reduce the burden of energy costs on low- and moderate-income residents, improve the health and resiliency of homes and multifamily buildings, and help enhance the financial sustainability of businesses and non-profits in underserved communities. IPC is a strategic partner of the Connecticut Green Bank in Connecticut and is focused on scaling and expanding the successful green bank financing model into other states and regions by accessing new capital sources. “Exhibit A in the RFP document” provides an indication of the size and type of IPC’s current and expected portfolio through early 2023. VI. RFP TIMING AND MILESTONES Submission Process Each respondent shall carefully examine this RFP and any and all amendments, exhibits, revisions, and other data and materials provided with respect to this RFP. If the respondent requires any clarifications or interpretations of any kind in regard to this RFP, the respondent shall submit a written request electronically to solar@Inclusiveteam.org by October 31, 2022. IPC shall respond to such requests in kind, and may, if it so determines, disseminate such written responses to other prospective respondents. The following requirements must be observed for all proposals: Proposals must be received no later than 5:00 PM Eastern Time on November 10, 2022. Proposals received after this time will not be considered. Proposals must be submitted electronically at the following email address: solar@Inclusiveteam.org. The subject line should be identified as: “IPC Commercial Solar O&M RFP Response.” IPC intends to review proposals and schedule interviews with respondents and appropriate staff members as deemed necessary. Key Dates: RFP Milestone: Estimated Date RFP Released: October 18, 2022 Clarification Questions Due: October 31, 2022 RFP Responses Due: November 10, 2022 Respondent Interviews: November 21 – December 2, 2022 Contractor Award Notification: December 15, 2022 Download the full RFP here.

REQUEST FOR PROPOSALS (RFP): Solar engineering services and operations and maintenance provider for commercial-scale solar portfolio Read More »

Amalgamated Bank Announces $15 million Loan for Decarbonization and Climate Resilience Initiatives

News & Events

Inclusive Prosperity Capital (IPC) has received a loan for $15 million from mission-aligned partner Amalgamated Bank to expand its work in underserved communities and markets across the country. A subsidiary of Amalgamated Financial Corp. (NASDAQ: AMAL) Amalgamated Bank is a mission-driven, full-service commercial bank that empowers organizations and individuals to advance positive social and environmental change. “IPC’s partnership with a forward-thinking financial institution like Amalgamated Bank is an important step in our continued growth. IPC is excited to begin deploying Amalgamated’s capital with our programs and partners to accelerate decarbonization and address climate injustices. Partnerships like those with Amalgamated make it possible to open markets and investment channels that make the built environment more resilient for everyone – the core mission of IPC,” said Kerry O’Neil, CEO, Inclusive Prosperity Capital. With the historic passage of the Inflation Reduction Act in the Senate (congratulations and thank you Senators!), including funding for a national climate bank with significant resources for low-income and disadvantaged communities, IPC is ready to scale up. As Joe Evans of Kresge Foundation said about the Amalgamated Bank loan , “…IPC provides a core piece of green banking infrastructure, bringing important project capital, technical expertise, products other community lenders can leverage…” Thank you Amalgamated for your investment and Kresge for risk mitigation support. The partnership with Amalgamated Bank and other funders like Kresge Foundation means we’re ready to get to work with all of you! Follow this link to read the article. For project inquiries contact us here.

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