Nevada Clean Energy Fund

Date: 2026

Asset Class: Equity Equivalent Direct Investment

Description: The Nevada Clean Energy Fund (NCEF) is Nevada's only nonprofit green bank, providing financing and technical assistance to accelerate the adoption of clean energy across the state. Working with homeowners, businesses, schools, tribes, local governments, and community organizations, NCEF expands access to renewable energy, energy efficiency, electric vehicles, and energy storage. By mobilizing public and private capital, NCEF helps lower energy costs, create jobs, and build a more affordable and resilient clean energy economy.

Why We Invest: The transition to clean energy depends not only on better technologies, but also on making them affordable and accessible to everyone. We invest in the Nevada Clean Energy Fund because it removes financial barriers that prevent families, businesses, schools, and underserved communities from benefiting from clean energy solutions. By leveraging public and philanthropic capital to attract private investment, NCEF demonstrates how innovative financing can accelerate the clean energy transition while delivering lasting economic, environmental, and community benefits.

Our investment takes the form of a seven-year, 3% subordinated loan structured to qualify as an equity equivalent (EQ2). This financing enables NCEF to leverage our investment by up to ten times, significantly expanding its lending capacity while helping the organization reach long-term financial sustainability.