NY Green Bank Announces Andrew Kessler as Acting President
February 26, 2021
NY Green Bank, a division of the New York State Energy Research and Development Authority (NYSERDA), announced today Andrew Kessler has assumed the role of Acting President of the State’s $1.2 billion sustainable infrastructure fund. NY Green Bank has grown to become a globally recognized leader in clean energy investment and model for other states and countries through its work supporting Governor Andrew M. Cuomo’s nation-leading clean energy and climate goals.
Doreen M. Harris, Acting President and CEO, NYSERDA said, “ Andrew’s extensive 25-year career in investment banking and the energy and environment sector, combined with his recent management of NY Green Bank’s portfolios and investments, makes him well-positioned to lead the NY Green Bank team into the future. With Andrew’s expertise and knowledge, NY Green Bank will continue its role as an industry leading organization yielding significant results in financing clean energy projects critical to supporting Governor Cuomo’s growing green economy.”
Mr. Kessler joined NY Green Bank in 2018 as Managing Director and Co-Head of Investment and Portfolio Management, and assumes the position from Alfred Griffin, who served as President of NY Green Bank since its launch in 2014 and has left to pursue other opportunities.
Mr. Kessler has extensive experience in corporate and project finance and advisory as well as operational management, corporate development, and project development. Prior to joining NY Green Bank, he founded and led the Biogas, Waste & Recycling Advisory group at the Danish Trade Council based in Washington, D.C. and served as Co-Head of the Danish Trade Council’s North America Energy & Environment Group. Mr. Kessler also founded Turning Earth, an integrated organics recycling company focused on converting organic waste streams into biogas and other beneficial resources. Prior to launching Turning Earth, Mr. Kessler spent 15 years as an investment banker holding senior positions as a corporate finance and mergers & acquisitions professional at various firms including HSBC, Waller Capital, Morgan Stanley, and Duff & Phelps.
Andrew Kessler, Acting President, NY Green Bank, said, “NY Green Bank remains committed to ensuring the acceleration of clean energy deployment in New York State, including supporting projects that provide tangible benefits for disadvantaged communities. As a nation-leading sustainable infrastructure investor, we believe we are uniquely positioned to enable an equitable green economy under Governor Cuomo’s leadership.”
NY Green Bank has an ever-growing, diverse pipeline that totals $789.9 million in clean energy investment opportunities, some of which benefit low- and moderate-income communities, across solar, wind, agriculture, bioenergy, energy storage, and renewable and energy efficiency projects. Despite the challenges of the COVID-19 pandemic, NY Green Bank executed 23 clean energy and sustainable infrastructure transactions representing $252.8 million in new investments from March 30 to December 30, 2020, bringing its total commitments to over $1.2 billion. These commitments, which are expected to spur up to $3.4 billion in clean energy investments and help New York to rebuild its economy, support Governor Cuomo’s nation-leading climate agenda.
For more information on NY Green Bank, please visit greenbankny.ny.gov.
New York State's Nation-Leading Climate Plan
Governor Cuomo's nation-leading climate agenda is the most aggressive climate and clean energy initiative in the nation, calling for an orderly and just transition to clean energy that creates jobs and continues fostering a green economy as New York State recovers from the COVID-19 pandemic. Enshrined into law through the Climate Leadership and Community Protection Act, New York is on a path to achieving its mandated goal of a zero-emission electricity sector by 2040, including 70 percent renewable energy generation by 2030, and to reach economy wide carbon neutrality. It builds on New York's unprecedented ramp-up of clean energy including a $3.9 billion investment in 67 large-scale renewable projects across the state, the creation of more than 150,000 jobs in New York's clean energy sector, a commitment to develop 9,000 megawatts of offshore wind by 2035, and 1,800 percent growth in the distributed solar sector since 2011. Under Governor Cuomo’s leadership, New York will build on this progress and reduce greenhouse gas emissions by 85 percent from 1990 levels by 2050, while meeting a goal to deliver 35 percent, with the goal of 40 percent, of the benefits of clean energy investments to disadvantaged communities and advancing progress towards the state's 2025 energy efficiency target of reducing on-site energy consumption by 185 TBtus.
NY Green Bank
NY Green Bank is a division of NYSERDA. NY Green Bank is a state-sponsored, specialized financial entity working with the private sector to increase investments into New York’s clean energy markets, creating a more efficient, reliable and sustainable energy system. NY Green Bank’s investments and activities support Governor Cuomo’s nation-leading goals to combat climate change, as outlined in the Climate Leadership and Community Protection Act, which requires that 70 percent of the State’s electricity come from renewable sources by 2030 and calls for 9 gigawatts of offshore wind by 2035, 6 gigawatts of distributed solar by 2025, and 3 gigawatts of energy storage by 2030. To learn more about NY Green Bank, visit greenbank.ny.gov or follow us on LinkedIn.
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise, and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. NYSERDA professionals work to protect the environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York State since 1975. To learn more about NYSERDA’s programs and funding opportunities, visit nyserda.ny.gov or follow us on Twitter, Facebook, YouTube, or Instagram.
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