Renovate America and Greenworks Lending to partner to offer national C-PACE lending

Written By: Stratton Report
February 13, 2017

renovate america

On February 13, Renovate America and Greenworks Lending announced a national partnership that they hope will spur efficiency and renewable-energy investments on commercial buildings.

Greenworks Lending and Renovate America will begin offering commercial PACE financing through the HERO Program in Missouri. The partnership will expand to other HERO markets.

Greenworks Lending stressed that it currently offers commercial PACE in Connecticut, Maryland, Rhode Island, Ohio, Texas and the District of Columbia. HERO residential PACE financing, per the firm, is currently offered in Missouri and California, and is set to expand to Florida this year.

The partnership between Renovate America and Greenworks Lending will allow both companies to leverage what they describe as considerable synergies in PACE financing – from access to capital markets to experience in the commercial lending space to existing relationships with building-improvement contractors.

Renovate America CEO and founder J.P. McNeill remarked:

This partnership enables us to better serve and support the efforts of more than 500 cities and counties to improve the efficiency of the commercial building sector. Greenworks Lending shares our goals of empowering owners to invest in their properties in a way that boosts sustainability and, ultimately, value.

Greenworks Lending CEO and co-founder Jessica Bailey observed: “By joining forces with Renovate America on commercial PACE, we are creating an enterprise that will be far greater than the sum of its parts. PACE lending is uniquely important for businesses because it lowers key barriers that discourage building owners from adopting smart energy improvements. Partnering with the company that has driven the massive growth in the PACE industry will allow us to bring commercial PACE to more businesses throughout the country. Renovate America’s experience, tools and platform will be a huge advantage as we partner together.”