Generate, a sustainable infrastructure company, launched a dedicated credit business called Generate Credit to provide financing solutions to technology companies and project developers at the forefront of the infrastructure revolution. Alfred Griffin, founding president of NY Green Bank, joined Generate to lead the new division.
“Credit is a critical part of the financial ecosystem for clean energy and sustainable infrastructure solutions, and we are thrilled to expand access to this important tool that we’ve used to support our partners since inception,” Scott Jacobs, CEO and co-founder of Generate, said. “Generate has been a pioneer in electric bus leasing, renewable energy development lending and fleet financing for electric and hydrogen mobility, in addition to our core business building, owning and operating assets. Our partners are asking us to take additional roles in financing, developing and deploying proven solutions to some of the world’s most pressing problems. We are excited to bring Alfred on board to accelerate this business.”
Griffin has 25 years of banking and finance experience. At NY Green Bank, a New York State-sponsored specialty finance company, he led the organization from concept to lending more than $1 billion to support sustainable infrastructure projects in areas such as renewable energy generation and energy efficiency. Prior to NY Green Bank, Griffin held roles in investment banking, capital markets and risk management at Citigroup Global Markets.
“Generate has been the clear market leader in financing the deployment of innovative and highly impactful clean energy business models and technologies thanks to its dedicated expertise and singular focus on sustainability,” Griffin said. “I’m thrilled to join Generate to expand its credit platform for sustainable infrastructure and work with this industry-leading team. Our fight against climate change demands fast results and it’s imperative to provide the right kind of capital at the right time to projects and companies who are driving the infrastructure revolution.”
Generate Credit will focus on Generate’s core markets, including renewable power, energy efficiency, microgrids, energy storage, electric mobility, hydrogen, wastewater, waste management and sustainable agriculture. Generate has made more than $600 million in similar types of clean energy loans since its founding.
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