Virginia Governor Youngkin Proposes Revisions to Green Bank Bill

Virginia Gov. Glenn Youngkin (R) on Monday suggested to revise a proposed law creating the state’s first “green bank,” a type of financing authority gaining popularity across the country after longstanding gaps in clean energy financing markets.

Virginia’s Clean Energy Innovation Bank would be tasked with using state and federal dollars to attract private investors to emissions-slashing projects. The bank’s climate project investments would come in the form of grants, loans, and other forms of financial assistance, which could distribute risk in a way that gives companies more confidence to do the same, said state Sen. Scott Surovell (D), who ...