State Green Banks to Receive ‘Historic’ Rush of Federal Funds

State green banks are expecting a historic influx of billions in federal dollars that is poised to scale up clean energy lending across the country and supercharge public-private climate partnerships.

The Biden administration’s National Clean Investment Fund (NCIF) awardees and sub-awardees are preparing for July 1, the Environmental Protection Agency’s target date for dispersing $14 billion to clean energy financing institutions.

The Coalition for Green Capital—one of the program’s three primary recipients—won $5 billion and plans to launch a national green bank that will coordinate with a network of state green banks to summon a “tsunami” of clean, cheap ...