Search External News Virginia Looks to New York Green Bank for Possible Clean Energy Financing August 22, 2019 Source: Energy News Network Governor Ralph Northam’s administration is exploring a possible alliance with the New York Green banks are generally defined as public or quasi-public financial institutions that use public funds to attract private investment to clean energy projects. Green bank activities can include offering financing guarantees, creating new financial products, and helping alleviate market barriers and inefficiencies. Green banks in Connecticut and New York have hired staff with extensive experience in both the private and public sectors. Each of these banks has the authority and capability to work closely with private sector entities to design effective clean energy financing solutions. to finance projects.