Frequently Asked Questions about the National Clean Investment Fund (NCIF) and Climate United’s Strategy

As of August 16, 2024

Disclaimer: The information contained in these FAQs is based on our current knowledge of the program parameters. We are continually receiving updated guidance, so all information is subject to change. Thank you for your patience as we digest, translate, and disseminate new information as it becomes available.

About Climate United

Frequently Asked Questions about the National Clean Investment Fund (NCIF) and Climate United’s Strategy

About Climate United

About The Greenhouse Gas Reduction Fund

Climate United Financial Products

Community Lenders

Program Compliance Requirements

Market Building And Predevelopment

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Frequently Asked Questions about the National Clean Investment Fund (NCIF) and Climate United’s Strategy

About Climate United

What is the relationship between the Greenhouse Gas Reduction Fund (GGRF), National Clean Investment Fund (NCIF) and Climate United?

What is Climate United?

How was Climate United chosen as a recipient of GGRF funding?

Which market segments will Climate United target?

What forms of financial assistance will Climate United provide?

What are Climate United’s investment goals as it relates to serving historically underinvested communities?

What is the definition of a LIDAC project?

Will a qualified project that falls under more than one of these investment goals be more attractive to Climate United?

Are these investment target priorities tracked by dollar amount, number of projects, or others?

How quickly does Climate United plan to deploy its capital?

Who is on Climate United Fund’s Board of Directors and Advisory Council?

I wasn’t part of Climate United’s initial application to the EPA. Is it too late for me to become a transaction partner of Climate United?

Where can I sign up for Climate United updates? Do I need to follow each individual organization for email updates?

About The Greenhouse Gas Reduction Fund

What kinds of projects are eligible for financial assistance?

What is considered commercial technology?

Does each deal need to augment Greenhouse Gas Reduction Fund (GGRF) funds with private funds?

Will there be a standardized “but for” test to determine if the project meets criteria for “may not have otherwise been financed?” How will you determine if the project is not otherwise financeable?

What are the priority project categories for the Greenhouse Gas Reduction Fund?

Will projects be required to fall into one of the three priority project categories?

Does decarbonization of agriculture and/or food systems fall into any of the priority project categories?

Does Climate United fund international projects?

Climate United Financial Products

Which of three organizations that are part of Climate United should I reach out to learn more if I have a project that needs financing?

Will Climate United use the same loan terms for every selected project?

What is the target interest rate that Climate United Fund, Self-Help Climate Capital, and CPC Climate Capital will lend to projects at?

What is the average project size Climate United is looking to support? Is there a minimum or maximum?

How does Climate United determine the amount of investment and the terms for each project?

Will you make any grants directly to projects or will there be forgivable loan products?

What are the technical requirements for buildings to qualify for your standard financial products?

Community Lenders

What types of products will be available for community lenders?

Will loans be project-specific? Or will Climate United lend to funds supporting eligible projects?

Will money to CDFIs or Green Banks for their lending come from the National Clean Investment Fund awardees (like Climate United), the Clean Communities Investment Accelerator (CCIA) or both?

Does receiving an investment from the National Clean Investment Fund count toward the $10M cap in capital that community lenders can receive under the Clean Communities Investment Accelerator (CCIA)?

Program Compliance Requirements

When do Davis Bacon and Related Acts (DBRA) apply to financial assistance provided by Climate United?

What requirements around Build America Buy America (BABA) should community lenders and transaction partners expect?

Do statutory requirements apply to private capital on projects?

What are flow down requirements and how might they apply to this program?

What kind of platform will Climate United use for reporting? When will it be available?

Market Building And Predevelopment

What is market building?

How does Climate United intend to help educate entities without extensive experience with financing (ex: School Districts) on the need and suitability of financing for the adoption of clean technologies?

How will Climate United support needs for predevelopment funding for qualified projects in communities?

How is Climate United thinking about supporting green jobs and workforce development?

How will Climate United work with technical assistance contractors?

How do I learn about programs and contracting opportunities with Climate United?

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