Board of Directors approves 2-year strategic plan and investment strategy

Press Release

The Board of Directors for the Minnesota Climate Innovation Finance Authority (MnCIFA) has approved its 2-year strategic plan and its investment strategy, with the goal of lending to hundreds of Minnesota projects that will save energy and reduce greenhouse gases. At least half of the projects will serve Minnesota communities that have the greatest need to reduce energy costs.

“With this plan, we are bringing innovations in financing that are critical for Minnesota to be a leader in the clean energy economy,” said MnCIFA Executive Director Kari Groth Swan. “Our plan provides gap funding that is critical to moving clean energy projects forward, creating local energy jobs, and increasing local ownership in our state’s increasingly clean energy system”

“Our strategic plan and investment goals fulfill MnCIFA’s vision to empower communities that have historically been left behind when it comes to decisions about energy resources and energy costs,” said MnCIFA Board Chair Bali Kumar. “When we remove barriers for financing, we open the door for innovative projects that will deliver long-term savings and benefits for communities.”

Through its strategic planning process, MnCIFA heard from hundreds of individuals and organizations from affordable housing groups, environmental and energy nonprofits, environmental justice communities, labor unions, lending authorities, local governments, utility groups, and interested members of the public.

About MnCIFA

The Minnesota Climate Innovation Finance Authority was created in state law in 2023 as a publicly accountable financing authority to stimulate the development of clean energy and greenhouse gas emissions reduction projects using innovative financing tools to leverage private and public capital to overcome the market barriers that inhibit the financing of these projects.