KeyBank Offers Green Solutions for Business, KeyBanc Capital Markets’ Renewable Energy Portfolio Nearly $1.6 Billion
CLEVELAND, November 3, 2014 /3BL Media/ — KeyBank is responding as more companies seek to conserve cash, reduce energy consumption, and cut operating costs through renewable energy initiatives. Key’s Community Bank provides a unique set of financial tools for business clients who implement their own energy efficiency and sustainability projects, and Key’s “green” experts come armed with the resources, connections, and financing to devise and implement the solutions for clients.
Working with a client to reduce operating expenses and improve operational performance, Key discovers a wide range of projects that may qualify for competitive “green” financing, including tax credits, rebates, grants, and other financial advantages from the government or utility companies. Specialty loan programs help clients take advantage of regulatory incentives when they install insulation, solar panels, or energy efficient windows and appliances. Energy projects often involve the purchase or lease of specialized equipment. After identifying the most appropriate strategy, Key helps the client secure financing and, finally, works with vendors in the community to implement the plans for clients.
“Our goal is to bring all available incentives to bear for our clients. We want to reduce the overall long term debt for them, arranging annual loan payments that are less than the cash value of the energy savings,” said Joe Paternini, vice president in Key's Commercial Lending segement. “Regardless of the ROI timeline, this allows the company to add cash back to its balance sheet to assist in achieving its goals.”
For businesses serious about green energy investment, there is good news beyond the immediate financial benefits.
“In addition to being an excellent way to control costs, businesses that implement these programs generate good will with their own clients,” said Paternini. “Customers continue to demand more socially responsible practices from the companies with which they do business, so investing in sustainable practices makes good business sense.”
“By supporting companies that have sustainability as a goal, our impact on the environment is greater than when we focus solely on Key's own sustainable operations,” adds Andrew Watterson, Key’s head of Sustainability.
Key’s program also supports solar, wind, and other advanced energy opportunities for clients, and, in 2013, supported more than $1.7 million in solar installations in Ohio alone.
KeyBanc Capital Markets (KBCM)
In Key Corporate Bank, Key continues to see great success in its Utilities, Power, and Renewable Energy segment, with investments in wind and solar projects throughout the United States. These investments are opportunities to advance the bank’s sustainability objectives and help its customers and communities thrive. As of September 30, 2014, KBCM’s renewable energy portfolio investment was nearly $1.6 billion, supporting over 5,800 MW of renewable energy capacity. This investment can power more than 1.6 million homes and makes KBCM one of the largest lenders to the wind and solar sectors among U.S. banks.
For more information about Key's approach to responsible banking, citizenship, and operations, please visit the KeyCorp 2013 Corporate Responsibility Report: www.key.com/CR2013.
KeyCorp was organized more than 160 years ago and is headquartered in Cleveland, Ohio. One of the nation's largest bank-based financial services companies, Key had assets of approximately $89.8 billion at September 30, 2014.Key provides deposit, lending, cash management and investment services to individuals and small and mid-sized businesses in 12 states under the name KeyBank National Association. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
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