“On November 8, 2019, NY Green Bank (“NYGB”) provided a 24-month senior secured $2.5 million bridge loan facility (the “Bridge Loan”) to Eden Devco Borrower LLC (“Borrower”), which is owned by Eden Devco LP (“Sponsor”), a limited partnership that is managed by Eden Renewables LLC (“Eden”). On March 31, 2020, NYGB increased the Bridge Loan size to $4.3 million. On August 28, 2020 NYGB further increased the Bridge Loan size to $6.3 million. Bridge Loan proceeds will finance project interconnection deposits to National Grid for community distributed generation (“CDG”) solar projects. This transaction is expected to provide New York State (“NYS”) residents and businesses with a greater variety of energy choices and, ultimately, lower-cost clean energy opportunities.”
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New York Green Bank 28 August 2020.