Nuveen, a leading global investment manager, has purchased Greenworks Lending, a commercial property assessed clean energy financing company. Nuveen expects that the acquisition will provide a foothold in the clean energy and energy efficiency lending market and offer its clients access to an innovative and attractive clean energy investment.
“Greenworks is a pioneer in developing and scaling C-PACE as a cost-efficient marketplace solution for property owners and municipalities to pursue energy efficiency solutions for their commercial buildings,” says Jose Minaya, CEO of Nuveen. “The company is a triple-win demonstration of doing well by doing right: Investors get access to attractive yields, borrowers get a net reduction in operating costs through the utility savings, and the environment benefits too.”
“We founded Greenworks with a mission to combat climate change by scaling clean energy in commercial buildings around the country. C-PACE brings benefits to local businesses, energy security, and the environment,” says Jessica Bailey, CEO of Greenworks . “In Nuveen, we found the ideal firm with a shared philosophy that can expand C-PACE to more property owners, through its diversified investment expertise in private credit, real estate and municipal finance, global reach and 50-year heritage of responsible investing.”