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MoCo’s Largest Rooftop Solar Project on Multifamily Property is Underway in Gaithersburg

The Green Bank—in partnership with Virginia Community Capital and NYCEEC—provided an Innovative solution for a financial structure that allows for deploying clean energy on multifamily properties with Fannie/Freddie mortgages. Multifamily properties with Fannie/Freddie mortgages represent over 50% of the market. This structure will catalyze significantly more clean energy transactions. Due to the Montgomery County Green Bank’s and partners’ participation, Seneca Village Apartments received a blended interest rate on the loan, which was for $5 million.