Zions Bancorporation and its subsidiary National Bank of Arizona (NBA) have launched a new division that will specialise in the sustainable energy finance sector.
Zions Energy Link will provide streamlined financing solutions for efficient renewable energy projects in the US states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington.
The division will consist of specialist lenders that are well-versed in government grants applicable to renewable energy generation projects.
It will also provide financing for all levels of sustainable initiatives and will review funding opportunities for the projects that range from $10m to more than $100m.
Zions Energy Link managing director Craig Robb said the division will provide the missing link that allows sustainable and renewable energy to be both accessible and affordable.
“We are creating a financing opportunity that doesn’t exist in the marketplace today and, in doing so, are reinforcing the relevance of regional banks and our impact on both the local and national economy,” he said.