Alabama Governor Signs Law Creating Energy Infrastructure Bank

Alabama Gov. Kay Ivey (R) signed a law creating a new state bank that will lend money for energy infrastructure projects.

The Alabama Energy Infrastructure Bank‘s structure will be similar to that of a green bank—a type of nonprofit that grants loans for clean energy projects that traditional banks may not approve.

But Alabama’s bank will focus on infrastructure for all types of energy sources, not just for renewables or other carbon-free sources.

“In order to keep Alabama’s economy growing, we’ve got to make sure that we have the power to support it,” Ivey said Wednesday in a press ...