The new projects will have a focus on disadvantaged communities.
Both the projects will be overseen by the green bank, formally known as the Greenhouse Gas Reduction Fund. Congress created this initiative as part of last year’s climate law.
She added that developers who build affordable housing in cities such as Baltimore “will now have the capital they need to install energy-efficient appliances in new units, to lower energy use and help tenants save on their electric bills,'' “When we help folks upgrade their heating and cooling systems, we lower the cost of electricity, so working parents have more money for groceries and home repairs and school supplies. And think of all the jobs these investments will create.''
“These communities have been left behind in this transition, and it’s going to be a strong signal to the market for us to pull private capital off the sidelines.”
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