Ygrene CFO Michael Chan Selected as 2016 Honoree in North Bay Business Journal CFO Recognition Awards
Annual San Francisco Bay Area awards program to recognize outstanding financial achievements in expanding national access to clean energy and climate resiliency property financing
SANTA ROSA, Calif., Aug. 31, 2016 /PRNewswire/ -- Ygrene Energy Fund Inc., the nation's leading provider of residential, multifamily, and commercial property assessed clean energy (PACE) financing, today announced that Chief Financial Officer Michael Chan has been selected as an honoree in the North Bay Business Journal's 2016 CFO Recognition Awards. The annual award recognizes the most outstanding CFOs of the San Francisco North Bay region.
A 25-year veteran of financial, accounting and capital markets, Chan leads Ygrene Energy Fund's financial team in raising and securitizing capital, and plays a central role in the company's relationships with banks, investors, and rating agencies. In his first year with the organization, Mr. Chan successfully spearheaded the establishment of Ygrene's multi-million-dollar credit facility setting the stage for continued success in the near term and beyond.
"As demand surges for affordable financing to upgrade properties for energy efficiency and climate resiliency, Ygrene is uniquely positioned to offer a flexible set of products and solutions to a broad range of customers," said Ygrene Energy Fund CFO Michael Chan. "With capital providers becoming more interested and knowledgeable in PACE, we've successfully positioned Ygrene as a leading national brand trusted by consumers, businesses and investors alike. We expect Ygrene to become synonymous with PACE as a mainstream financing option to make climate and energy goals a reality."
To date, Ygrene has raised over $795M in committed capital and funded over $506M in energy efficiency, renewable energy, water conservation and climate resiliency upgrades, resulting in an estimated $1.2B in economic stimulus, 7,500 new jobs created and sustained, 2.1B gallons of water saved and $1B in utility bill savings – an amount equal to providing one year of power to more than 500,000 homes.
"Michael is central to the executive leadership at Ygrene and has played an instrumental role as we grow to meet demand for our clean energy financing," said Stacey Lawson, President and CEO of Ygrene. "We are delighted that Michael has been recognized by the North Bay Business Journal as one of the Bay Area's most outstanding chief financial officers."
About Ygrene Energy Fund
Ygrene Energy Fund is the nation's leading provider of residential, multifamily, and commercial property assessed clean energy financing. The award-winning, privately funded YgreneWorks program provides immediately accessible financing with no upfront payments for energy efficiency, renewables, and, in certain areas, water conservation, hurricane protection, electric vehicle charging stations and seismic upgrades. Ygrene is committed to making it easy for property owners to invest in their future and a healthier environment. Over the next five years, YgreneWorks is projected to create tens of thousands of local jobs and invest billions of dollars into local economies. Learn more at ygreneworks.com.
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SOURCE Ygrene Energy Fund Inc.
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