EPA Announces Greenhouse Gas Reduction Fund Selections

Source: U.S. Environmental Protection Agency

On April 4, the U.S. Environmental Protection Agency (EPA) announced the awardees for the National Clean Investment Fund (NCIF) and Clean Communities Investment Accelerator (CCIA) segments of the Greenhouse Gas Reduction Fund (GGRF). EPA chose three organizations to administer the $14 billion NCIF capital pool, and five organizations to administer the CCIA funding.

EPA expects the eight selected applicants to utilize the available capital to develop a nationwide financing network to drive lending in both existing clean energy technologies and support the deployment of capital in low-income and disadvantaged communities as well as the general public. EPA expects awards to be finalized in July, with projects beginning to be funded shortly afterwards. The selectees for each program are:

National Clean Energy Investment Fund

  • Climate United Fund ($6.97 billion award);
  • Coalition for Green Capital ($5 billion award); and
  • Power Forward Communities ($2 billion award).

Clean Communities Investment Accelerator

  • Opportunity Finance Network ($2.29 billion award);
  • Inclusiv ($1.87 billion award);
  • Justice Climate Fund ($940 million award);
  • Appalachian Community Capital ($500 million award); and
  • Native CDFI Network ($400 million award).

EPA will host two informational webinars to educate stakeholders on the awardees. The NCIF webinar is on Wednesday, April 10th, 2024 at 1 PM ET, while the CCIA webinar is on April 11th at 1 PM ET. If you would like to join the April 10th meeting, please click here. If you would like to join the April 11th meeting, please click here.