GreenieRE launches to provide commercial insurance for clean energy projects

The Coalition for Green Capital (CGC) announced a $200 million investment in GreenieRE , a wholly-owned licensed industry association captive, domiciled in Vermont.

GreenieRE will address key risks that hinder the development of decarbonization infrastructure by offering customized insurance solutions to reduce investment risks and speed up clean energy projects. At least 50% of its insured value will support underserved communities, promoting private sector participation and expanding access to affordable energy.

“The private sector has demonstrated a strong willingness to invest in expanding clean energy access for Americans. However, significant bottlenecks continue to hinder efforts to lower costs and accelerate the deployment of these technologies. This partnership represents a crucial first step in removing barriers that restrict private capital and keep clean energy technologies costly for both developers and consumers. GreenieRE will play a key role in mobilizing private sector support to empower state and local green banks, along with other lenders, to finance critical community clean energy projects that would otherwise struggle to secure private sector capital.” – CGC’s Chief Executive Officer Richard Kauffman.

“The global energy transition needs high-impact risk management solutions and insurance is a proven, commercial and scalable structure. Our priority is the most efficient use of federal funding to achieve maximum impact for end users. We are grateful for CGC’s leadership in creating the next generation of green financing institutions. With GreenieRE we follow a legacy of government-sponsored institutions to responsibly de-risk a major growing asset class using best practices from the private sector insurers.” – Jeff McAulay, CEO of GreenieRE.