Rocky Hill, CT – The Connecticut Green Bank announced the promotion of Genevieve Sherman to director of its commercial and industrial (C&I) program sector. Previously an assistant director in the organization, she has been serving as acting director for C&I since January of this year. She joined the Green Bank in 2012.
Sherman will continue to oversee the Green Bank’s nationally recognized Commercial Property Assessed Clean Energy (C-PACE) program. C-PACE helps commercial, industrial, and multifamily property owners make smart energy upgrades through a novel approach to long-term clean energy financing. The program has accelerated the deployment of green energy in the commercial and industrial sector, catalyzing rapid anticipated growth in the coming years.
In addition to C-PACE, Sherman will also lead the Green Bank’s microgrid financing projects, as well as develop innovative clean energy financing products and services that further meet the needs of the commercial and industrial market.
Prior to joining the Green Bank, Sherman acted as a consultant to Clean Energy Solutions Inc., Earth Markets, and HR&A Advisors.
“Genevieve is a proven leader and strategist that sees and understands the big picture of the Green Bank, to accelerate private investment in clean energy,” Connecticut Green Bank President & CEO Bryan Garcia said. “She’s also fluent in the details of energy conservation measures, financial metrics, and customer relationship management, providing her with a unique skill set and understanding of the energy challenges that Connecticut building owners face. Genevieve will propel our efforts to scale-up commercial and industrial programs and will represent our organization with great passion and extraordinary knowledge.”
Sherman joined the Green Bank to help implement the state’s newly established C-PACE program. C-PACE’s innovative model enables building owners to secure 100 percent financing for green energy upgrades by paying for the improvements as a charge on their property tax bill. By allowing energy related improvements to be paid over time, often up to 20 years, C-PACE not only helps unlock cash flow for property owners but also facilitates the creation of more efficient and valuable commercial property stock in the state.
In its first two years while Sherman was supporting the program, the Green Bank approved $65 million in C-PACE financing for more than 90 energy efficiency and clean energy improvement projects, becoming the fastest growing commercial PACE program in the nation. The program also saw the first securitization of commercial PACE loans in the country.
With the commercial and industrial clean energy market on an accelerating growth trajectory, Sherman and the Green Bank will serve as an important partner, supporting the expanding market with innovative solutions like C-PACE.
“It is an exciting time to be working in the clean energy industry, particularly in Connecticut,” said Sherman. “The Green Bank is the driving force behind attracting private investment in clean energy in our state, and is a national leader, serving as a model for other states to follow. I’m delighted to continue growing the commercial and industrial clean energy market in Connecticut, and continuing to set the pace for this market across the country.”