Milestone achievement supports the creation of more than 30,000 job-years and delivers benefits to families, businesses, and communities statewide.

Hartford, CT – January 12, 2026 – The Connecticut Green Bank proudly announces a historic milestone: surpassing $3 billion in total investment into Connecticut’s green economy. This achievement reflects 14 years of commitment to innovation, resilience, and collaboration with partners across the state.

Since its inception in 2011, the Green Bank has mobilized $3.11 billion in clean energy and environmental infrastructure investments, leveraging $463 million in public funds to attract $2.65 billion in private capital at a ratio of $6.70 for every public dollar invested. These investments have supported the creation of more than 30,000 job-years, generated nearly $160 million in state tax revenues, and reduced energy costs for over 75,000 families, businesses, and nonprofits.

Key achievements in 2025:

• Supporting small businesses as the administrator of and lender in the state’s Commercial Property Assessed Clean Energy (C-PACE) program, which provided nearly $43 million in investment, creating 200+ job-years, generating $2.4 million in tax revenues and helping 24 businesses reduce energy costs through the deployment of clean energy
• Expanding solar access to affordable multifamily housing, delivering savings of over $350 annually per unit for more than 470 tenant units, through the Solar Marketplace Assistance Program (MAP+).
• Raising more than $19 million in Green Liberty Bonds and another $1 million through Green Liberty Notes from investors in Connecticut and across the country to support residential solar and energy efficiency for small businesses.
• Empowering nearly 850 families with $24 million in Smart-E loans provided by local community banks and credit unions for home energy and resilience improvements, including solar, storage, heat pumps, and floodproofing.
• Launching the Fleet Electrification Accelerator to help school districts transition to electric buses, improving air quality and creating potential hands-on learning opportunities for students.
• Growing the number of homeowners participating in the Energy Storage Solutions program who are using battery energy storage systems to create resilience for their home and improving the grid for all utility customers.

“Surpassing $3 billion in total investment is more than a financial milestone; it’s a testament to the green bank model which combines the power of public-private partnerships with the belief that the green economy should benefit everyone,” said Bryan Garcia, President and CEO of Connecticut Green Bank. “These investments are creating jobs, improving public health, reducing energy costs, and building resilience in our communities, particularly in our most vulnerable communities where we ensure that at least 40% of investment is directed. By partnering with lenders, contractors, state and local leaders, utility companies, and community partners, we are proving that the green economy and economic growth go hand in hand.”

“The Green Bank’s multifaceted team works tirelessly to meet evolving and unexpected challenges, remaining responsive to existing clients while also fostering new opportunities that benefit more families, businesses, institutions, and communities,” added Green Bank Board Chair Lonnie Reed. “The team’s outstanding commitment helps us excel.”

From nonprofits like Easterseals saving $1.3 million in energy costs to manufacturers lowering their environmental impact while improving their bottom line, the Green Bank is ensuring that every family, business, and community can participate in and benefit from Connecticut’s green economy. Looking ahead, the Green Bank will continue to innovate and expand access to clean energy and environmental infrastructure solutions, while continuing to ensure that Connecticut remains a leader in the green economy.

To read more about the Green Bank’s successes in 2025, access their annual report at https://www.ctgreenbank.com/annual-report-2025

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Retail investors from Connecticut and across the country drove more than $8 million in demand with institutional investor orders surpassing $40 million for Connecticut Green Bank’s lower-dollar denomination bond

 

Hartford, CT (November 24, 2025) – The Connecticut Green Bank recently issued its third Green Liberty Bonds to retail and institutional investors and sold out nearly $19 million in bonds over two days. This builds upon successful, award-winning issuances in 2020 and 2021 which sold more than $36 million in bonds. Demand this year was again greater than the supply of bonds could satisfy, showing the high-level of interest in supporting investment to confront climate change in Connecticut.

As the Green Bank seeks to provide opportunities for families in Connecticut and across the country to be able to invest in the green economy of Connecticut, retail investors were given priority during a one-day retail order period on Monday, Sept. 29. Total retail orders received during this order period surpassed $8 million. With priority given to Connecticut citizen investors, their orders for $1.4 million of bonds were filled before approximately $7 million from national orders. Institutional orders topped $40 million.

“As we’ve seen with previous bond offerings, demand for this type of investment far exceeds our supply,” said Bryan Garcia, President and CEO of the Green Bank. “These lower denomination bonds continue to offer an opportunity for more people to invest in confronting climate change while reducing energy costs in Connecticut.”

Individuals accounted for 35% of the retail orders with the balance from professionally managed retail accounts such as private wealth managers and bank trusts.

Institutional investors were able to place orders on September 30, and there was strong interest from a variety of investors, specifically those attracted by the issuance’s unique combination of climate bond certification and a AA- credit rating. Together, the high demand from retail and institutional investors created a “greenium” (or green premium), that allowed the Green Bank to reduce the yield for 11 of the 12 maturities, showing investor willingness to accept a lower yield to access green and impact-focused investments.

“Through three issuances of Green Liberty Bonds, more than $100 million has been invested in verified climate bonds to support residential solar PV and energy efficiency in Connecticut. While it has been four years since our last issuance, the favorable pricing achieved continues to illustrate the market’s interest in this type of offer from the Connecticut Green Bank as an issuer,” noted Bert Hunter, the Green Bank’s Chief Investment Officer.

The use of proceeds from this issuance supports incentives for nearly 11,000 households and more than 90 megawatts of residential solar photovoltaic systems, totaling nearly $330 million of investment in projects in 166 cities and towns across the state, including more than $85 million in distressed communities across Connecticut, which created over 4,100 direct and indirect jobs years.

Originally launched in 2020 in honor of the 50th anniversary of Earth Day, the Green Liberty Bonds were created as a type of green bond whose proceeds are used to invest in projects that confront climate change in Connecticut. Modelled after the Series-E War Bonds of the 1940s, the certified and verified climate bonds must be able to be purchased by everyday citizens through lower-dollar denominations (no more than $1,000), enabling them to invest in green projects in their community and to save for the planet.

To offer the Green Liberty Bonds, the Green Bank worked with Ramirez & Co., Inc. as lead underwriter, Shipman & Goodwin LLP as bond counsel, Lamont Financial Services Corporation as financial advisor, and Bank of New York Mellon Trust Company, N.A. as trustee. The Green Liberty Bonds, state supported using a special capital reserve fund, received an AA- rating from Standard and Poor’s. They were labeled as “Certified Climate Bonds” by the Climate Bonds Initiative, and compliance of the bond’s issuance with the Climate Bonds Standards was verified by Kestrel Verifiers. Support from the Office of the State Treasurer and the Office of Policy and Management was also instrumental.

“The strong investor response highlights how both individual and institutional investors are eager to take part in Connecticut’s clean-energy future,” said Eric McKean, Managing Director, Ramirez & Co., Inc. “We’re proud to support the Green Bank in broadening access to investment opportunities that strengthen communities and advance climate solutions.”

For retail investors who missed this opportunity to invest or are seeking other investment options, the Green Bank opens quarterly offerings. Learn more at www.greenlibertynotes.com.