The Opportunity Finance Network (OFN) has finalized a $2.29 billion award to support a clean and just energy transition. This significant investment aims to accelerate the shift towards renewable energy sources, reduce carbon emissions, and promote economic development in underserved communities. The funding will be allocated to community development financial institutions (CDFIs) and other mission-driven lenders to finance projects that promote energy efficiency, renewable energy generation, and energy infrastructure upgrades.

The initiative is part of the U.S. Department of Energy’s (DOE) efforts to address climate change and promote environmental justice. The funding will support projects that benefit low-income communities, communities of color, and other marginalized groups disproportionately affected by environmental degradation. The OFN’s commitment to this initiative underscores its dedication to advancing equitable and sustainable energy solutions.

The $2.29 billion award is expected to create new job opportunities, improve energy access, and enhance the overall quality of life in these communities. By leveraging private and public investments, the initiative aims to drive economic growth, reduce energy costs, and contribute to a more sustainable future.