- Associated Press - Saturday, October 25, 2014

ALBANY, N.Y. (AP) - New York’s so-called Green Bank has made its first investments.

The bank is a state initiative designed to help finance clean energy and green technology projects that might otherwise go unfunded.

Gov. Andrew Cuomo announced the bank’s first investments last week. They include energy efficiency projects in New York City and a small-scale solar energy project near Buffalo. Combined, the projects represent investments of more than $800 million.

The Green Bank works with banks and other private-sector lenders to secure financing for the projects. Cuomo says that by working with the lenders, the state can expand the market for clean energy and environmentally friendly technologies.

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