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December 8, 2020

CT Green Bank spinoff’s new partnership opens door to solar projects nationwide

Photo | Contributed The Atlantic Works building in Hartford.

Inclusive Prosperity Capital (IPC), a nonprofit spinoff from the Connecticut Green Bank, is entering into partnerships with San Diego's Greenprint Capital and the Green Bank that will enable IPC to acquire, build and operate solar projects across the country.

IPC now has a tax equity partnership with Greenprint, which works with municipalities to fund environmental projects and a debt facility agreement with the Connecticut Green Bank. IPC CEO Kerry O’Neill said forming a financial partnership with a group like Greenprint has been part of the nonprofit's strategy since it was established in 2018.

"IPC is well-positioned to deliver energy-saving solar PPAs to customers who might otherwise be overlooked by traditional financiers," O'Neill said. "We are thrilled to be partnering with Greenprint Capital and Connecticut Green Bank to achieve this major milestone in IPC’s growth."

IPC split off from the quasi-public Green Bank after state legislators in 2017 raided $165 million earmarked for clean energy programs. That money had been earmarked for clean energy programs.

The announced partnerships come as IPC ‒ along with the Green Bank, with which IPC shares office space ‒ prepares to move from its current Rocky Hill office to a 10,000-square-foot space at 75 Charter Oak Ave. in Hartford.

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