The Biden administration announced recipients of the climate law’s biggest grant program Thursday, kicking off a $20 billion effort to transform community lending and green the U.S. economy.
EPA will award eight initial grants under the Greenhouse Gas Reduction Fund, ranging in size from $400 million to almost $7 billion. The largest award will go to Climate United, a partnership that includes a nonprofit impact investment firm and two affordable housing lenders.
A senior administration official told reporters Wednesday that the EPA finance program would “create a first-of-its-kind national network of clean technology financing institutions that will finance tens of thousands of climate and clean energy projects in the years to come.”
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