A New York energy efficiency financing group reported today that it has reached an important milestone: the investment of $37.5 million in grant money from the U.S. Department of Energy under a tight three-year time frame.
The New York City Energy Efficiency Corporation, or NYCEEC, also launched its new corporate branding and redesigned website today.
In all, the agency has provided $75 million in energy efficiency and clean energy financing for buildings and thousands of multifamily housing units across New York City. NYCEEC has also established strategic partnerships with Fannie Mae and the New York City Housing Development Corporation to unlock clean energy loan capital.
The organization’s diverse portfolio ranges from a $55,000 energy efficiency loan made to a five-unit rental brownstone in the Clinton Hill area of Brooklyn to a $6 million construction loan for combined heat and power at a major hotel in Times Square.
“We are proud to be entering our new phase of growth as an organization and building on our success,” said Susan Leeds, NYCEEC chief executive officer. “In working with NYCEEC, our customers are demonstrating their commitment to clean energy and investing in their future. Our new branding and website reflects an investment in NYCEEC’s future, enhancing access to information for our customers and stakeholders alike.”
Many NYCEEC-financed projects are completed at no upfront cost to building owners. The energy cost savings can often fully cover the loan payments.
“The projects we finance yield significant environmental benefits and are wins for our customers on multiple fronts: owners can save money from day one, projects pays for themselves with little or no upfront cost, occupants are more comfortable and building cash flows can increase,” Leeds said.
NYCEEC is a specialty finance non-profit for projects that save energy or reduce greenhouse gases. The non-government organization works to custom-tailor solutions that solve financing gaps for building owners and clean energy project developers. More information about NYCEEC is here.
