Greenworks Lending was launched in 2015 to expand the impact of C-PACE. Co-founders, Jessica Bailey and Alexandra Cooley, met in 2012 while developing and launching the Connecticut C-PACE program at the Connecticut Green Bank. Soon the program was growing rapidly and had become the standard for C-PACE programs across the country. This growth reinforced their conviction that C-PACE could scale energy efficiency in commercial buildings and new developments around the country, driving benefits for local businesses, energy security, and the environment. With Greenworks, they have proven that clean energy and energy efficiency investments are smart business decisions for all types of commercial real estate developers and building owners across the country.
Since its inception in 2015, Greenworks has been a leader in the C-PACE industry. In 2017 it completed the industry’s first rated securitization of C-PACE assets, and in December of 2018 it completed its second rated securitization, the only provider of C-PACE financing to ever do so.
In early 2021, Greenworks was acquired by Nuveen where they found the ideal partner with a shared philosophy to help further its mission and expand C-PACE to more property owners through Nuveen’s strong brand, diversified investment expertise, global reach, and 50-year heritage of responsible investing.