Cuomo Proposes “NY Green Bank” To Spur Renewable Energy Investments (Stateline)


January 15, 2013 – Governor Andrew Cuomo has proposed creating a $1 billion “NY Green Bank,” a quasi-independent authority that would provide capital for energy projects, aiming to leverage scattered resources and open the door to projects that might struggle to attract investment on their own. “A Green Bank is a fiscally practical option in a time of severe budget conditions,” the governor stated. A similar $30 million program is currently under way in Connecticut, where it has helped fund several projects over the past year. Lawmakers in a few other states are considering it, too.

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