CFE and DC Green Bank Provide $5.25 Million in Financing for Solar Energy for More Than 300 DC Homes
Press Release
Washington, D.C. – City First Enterprises (CFE), DC Green Bank, and Evergreen Energy Investments today announced $5.25 million in financing that will deliver clean, affordable solar energy to approximately 335 District households. Three-quarters of the households will be in low- to moderate-income communities, and approximately 200 homes will receive the solar energy generated at zero cost.
With this financing, Evergreen Energy Investments – through a subsidiary – will lead the installation of more than 3 MW of solar systems across these households. The solar arrays are expected to generate 3,685 MWh of renewable energy annually, reducing carbon emissions by the equivalent of 9million miles driven by an average passenger vehicle each year. These projects are also expected to create approximately 50 jobs.
CFE and DC Green Bank each contributed $2.625 million to finance the $10 million project. This deal builds on a yearslong partnership between CFE and DC Green Bank that serves as a model for how CDFIs and green banks across the country can expand access to capital for clean energy projects and local economic development.
“This project is proof that the transition to clean energy starts at the community level,” said CFE President & CEO Oswaldo Acosta. “Through investments like these, CFE builds on its commitment to expand access to capital, grow our local economy, and catalyze private resources on behalf of community development initiatives.”
“We are proud to support our partners and drive investments in resilient infrastructure that create jobs, reduce energy costs, and put money back in the pockets of DC residents,” said Brandi Colander, Interim CEO of DC Green Bank. “We’re thrilled to have a strong partnership with CFE, together we are creating tangible solutions to support the District’s thriving energy economy.”
“Projects like these prove the transition to clean energy can be both profitable and equitable,” said Lawrence Brown, Founder & CEO of Evergreen Companies. “Evergreen is proud to advance District goals surrounding sustainability, and we look forward to continuing that mission in the years to come.”
The solar power systems are expected to be installed by the second half of 2026.
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About City First Enterprises
City First Enterprises (CFE) is a certified CDFI (Community Development Financial Institution) specializing in flexible lending for affordable housing, commercial real estate, small businesses, non-profits, and clean energy projects. With a mission to create equitable financial solutions to support people and communities in achieving their economic aspirations, we envision a future where all individuals and communities thrive through equitable access to capital. Additional information about CFE’s lending can be found at www.cfenterprises.org
About DC Green Bank
DC Green Bank develops and facilitates innovative financial solutions to support District businesses, organizations, and residents on the path to a cleaner future for all. We invest in solar energy systems, energy-efficient buildings and retrofits, green stormwater infrastructure, and transportation electrification in line with our values of Sustainability, a Clean Economy, and Inclusive Prosperity. To date, DC Green Bank has invested millions of dollars in a cleaner, greener, and more equitable future. To learn more, please visit us at www.dcgreenbank.com.
About Evergreen Companies
Based in Washington DC, Evergreen Companies is an asset management firm focused on alternative real estate investments in companies and strategies throughout the United States. The Evergreen portfolio consists of investments in affordable housing, structured finance, health care, multifamily apartments, renewable energy, and opportunistic real estate transactions. Additional information about Evergreen can be found at www.evergreenprivatefinance.com .
FOR IMMEDIATE RELEASE
July 15, 2025
CONTACT:
Victoria Garcia
Senior Director of Development
City First Enterprises
victoria@cfenterprises.org
Dan Lebiednik
Communications and Outreach Manager
DC Green Bank
dlebiednik@dcgreenbank.com
