CT Green Bank’s Move from Rocky Hill to a New Corporate Residence in the Atlantic Screw Works Building in Hartford
The Connecticut Green Bank, established by the Connecticut General Assembly in 2011 as the nation’s first green bank, recently relocated its headquarters from Rocky Hill to the Atlantic Screw Works building in Hartford. Built in 1903, the site is also home to the CT Nonprofit Center and the Capewell Lofts Apartments. In addition to providing an opportunity to work with the Hartford community, the new space allows the Green Bank to operate in a building that represents its values and mission.
Several rooms in the new headquarters commemorate Connecticut’s clean energy pioneers. For example, one meeting room is named after Albert Augustus Pope, the Hartford-based manufacturer of electric vehicles in the late nineteenth century. Another room honors Bernard Baker, a Connecticut-based electrochemical engineer whose research provided the foundations for the development of fuel cells.
Earlier this summer, the Green Bank’s subsidiary, CBG Green Liberty Notes LLC, completed the third issuance in its Green Liberty crowdfunding campaign. The impact investing initiative allowed investments as low as $100 that helped support Eversource’s Small Business Energy Advantage (SBEA) program, which provides zero-interest financing to small businesses making energy efficiency improvements. The offering provided Connecticut residents and citizens nationwide the opportunity to invest in projects that combat climate change while earning competitive returns. Future offerings of the Green Liberty Notes will be available on a quarterly basis.
Additionally, the Green Bank is co-administrator of Connecticut’s battery storage program launched by the state’s Public Utilities Regulatory Authority (PURA). The nine-year program will help residential, commercial, and industrial customers of Eversource and United Illuminating install energy storage systems at their homes or businesses by providing upfront and performance-based incentives.
Another popular Green Bank program is the C-PACE (Commercial Property Assessed Clean Energy) program, which provides building owners and developers access to lower-cost financing for energy-efficient or renewable energy upgrade projects. The program was enhanced earlier this year to provide developers, capital providers, and borrowers with easier access to financing for new construction, repositioning, and gut rehabilitation projects.
You can learn more about the Connecticut Green Bank and its innovative green financing initiatives and clean energy programs by visiting www.ctgreenbank.com.