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AUSTIN, Texas, March 10, 2021 /PRNewswire/ Petros PACE Finance nearly tripled its prior 2019 total transaction volume in 2020. This included more than $100 million in retroactive Commercial Property Assessed Clean Energy (C-PACE) transactions as more and more commercial property owners used C-PACE as a refinancing tool to raise cash and lower expenses in response to pandemic-related challenges and uncertainty.
Petros closed refinancing transactions across eight states in the last 12 months. Demand for C-PACE refinancing continues to surge in 2021, fueled by ongoing business disruptions and capital restrictions among traditional lenders, along with broader availability and market awareness. Based on a pipeline in excess of $2 billion in C-PACE refinancing alone, Petros expects to close multiples of its 2020 volume this year.
Monday, March 8, 2021
Recent M&A Activity:
February 1, 2021: Microvast Inc. agreed to merge with Tuscan Holdings Corp., a special purpose acquisition company. The newly combined company, named Microvast Holdings, will be publicly listed on Nasdaq. Microvast is a producer of battery technologies for commercial and specialty vehicles, including electric vehicles.
February 2, 2021: EnergyWyze was acquired by SinglePoint for an undisclosed amount. EnergyWyze acquires and develops market leads for large solar companies including Vivint Solar, SunEdison, and Crius Solar. SinglePoint provides renewable energy solutions to consumers and small commercial businesses, including installation mapping and solar power systems.
February 5, 2021: Advent Technologies completed a business combination with AMCI Acquisition Corp., a special purpose acquisition company. Advent focuses on the development of next-generation fuel cell technologies applicable to electrification, hydrogen
Business briefs, Feb. 28, 2021
Feb. 25, 2021
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West Lane Inn, a boutique 17-room inn in Ridgefield, is a recipient of the Connecticut Green Bank s annual awards.Contributed photo
ROCKY HILL - In recognition of their contributions to the deployment of clean energy and demonstrated leadership in their industries in 2020, the Connecticut Green Bank has announced the honorees of their annual PACEsetter Awards and the Smart-E Loan Top Performers. Since 2012, the Green Bank has supported the creation of more than 23,000 job years and over 50,000 clean energy projects, thanks to our network of contractors, interested home- and building owners, and lending partners.
PACEsetter Awards Recipients: The Connecticut Green Bank’s PACEsetter Awards acknowledge contractors, building owners and other stakeholders who are advancing the green energy movement through C-PACE, and whose leadership establishes a “pace” for others in their field to follow. The award winners are
9 & 10 News
February 23, 2021
Treetops Resort in Gaylord is working toward energy saving improvements all thanks to a clean energy loan.
The Commercial Property Assessed Clean Energy loan, or CPACE loan, will help Treetops get nearly $3 million in upgrades.
Treetops plans to make its buildings more energy efficient with better heating and cooling systems, along with energy saving lights.
In return, the resort will pay back the loan with the extra cash it saves on energy bills.
Treetops says with about 80 buildings on the property there’s a long list of improvements.
“As you can imagine the lighting the heating the cooling, the water controls, in some of these buildings are immense. So this is a large scale project that we’re embarking on, and we’ve already started, some of the work has been done, and it’s going to get real fast and furious in the next three to four months,” said Barry Owens, General Manager.
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BILLS STILL ALIVE
Don’t let the long list fool you. While the majority of the bills we’ve been following have either passed both chambers or seem well on their way to doing so, some of the most impactful bills are now dead, and others have been amended into meekness.
The entire category of Utility Reform got emptied out into the dumpster in Senate Commerce and Labor, which also killed Jeff Bourne’s “right to shop” bill that would have opened up the renewable energy market. They are all now found under “Dead and Buried” at the end.