Greenwood Sustainable Infrastructure (GSI) Closes on $10 million Development Credit Facility with NYCEEC

The facility will support development costs for solar projects across the Northeast and Mid-Atlantic regions of the United States.

NEW YORK, NY, UNITED STATES, August 19, 2025 /EINPresswire.com/ -- Greenwood Sustainable Infrastructure (GSI), the North American renewable energy subsidiary of Libra Group, announced the closing of a development credit facility with NYCEEC. The facility, with a total capacity of up to $10 million USD, will support development costs for solar projects across the Northeast and Mid-Atlantic regions of the United States.

The credit facility marks a significant expansion from GSI’s prior financing arrangements and provides flexible financing for a broader range of development expenses, while supporting projects in multiple states.

Current projects financed under the facility are located in New York, Illinois, and Pennsylvania, with potential expansion into additional US markets pending further diligence. The closing process is structured in two parts, allowing for the inclusion of additional markets and projects in the near future, further strengthening GSI’s regional footprint.

“Our partnership with NYCEEC on this credit facility provides the financial flexibility needed to scale solar development across priority U.S. markets,” said Mazen Turk, CEO of Greenwood Sustainable Infrastructure. “It reinforces both organizations’ commitment to advancing sustainable energy while ensuring that impactful renewable projects move from concept to reality.”

"GSI’s ability to attract innovative capital partners, such as NYCEEC, is a testament to the quality of our pipeline as well as our team’s execution capabilities.” said Ahmar Zaman, CFO of Greenwood Sustainable Infrastructure. “We look forward to the success of this new stage of our long-standing relationship with NYCEEC."

This transaction represents NYCEEC’s first foray into solar development financing, building on its extensive experience in other clean energy projects. “NYCEEC is excited to support GSI’s innovative solar initiatives, marking a significant step in our mission to deliver financing solutions and advance markets for energy efficiency and clean energy in communities.” said Curtis Probst, CEO, NYCEEC

The partnership between GSI and NYCEEC highlights a shared commitment to expanding access to clean energy and fostering sustainable development across the United States. As GSI continues to grow its portfolio, this credit facility positions the company to deliver high-impact solar projects that contribute to a cleaner, more sustainable energy future.

For more information about Greenwood Sustainable Infrastructure and its renewable energy initiatives, visit www.greenwoodinfra.com.

About Greenwood Sustainable Infrastructure (GSI)
GSI, a subsidiary of Libra Group, is a renewable energy company focused on developing, constructing, and operating utility-scale solar and battery storage projects across North America. With a portfolio of approximately 388 MW of renewable energy projects and a pipeline of 2.3 GW, GSI is dedicated to advancing sustainable energy solutions.

About NYCEEC
NYCEEC is a nonprofit green bank sourcing funds from the public, private, and philanthropic sectors to support community clean energy projects through debt financing. Launched in 2010 by the New York City Mayor’s Office, NYCEEC has since expanded its geographical reach throughout the Northeast and Mid-Atlantic regions. To learn more about NYCEEC’s team and its Board of Directors, visit their website at www.nyceec.com.

DEVIN PETTEPLACE
Greenwood Sustainable Infrastructure
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