Anniversary Gala Luncheon to Support Decarbonization Initiatives for Low-Income Communities.
COLLEGE PARK, Md. – The Maryland Clean Energy Center (MCEC) is marking 15 years of creating jobs, driving economic growth, and providing access to innovative clean energy and climate solutions with a special celebration scheduled for December 11, 2024.
“At this milestone moment in our history we want to recognize the progress Maryland has made and the partners who have contributed to the clean energy transition over the last 15 years,” said Kathy Magruder, Executive Director of the Maryland Clean Energy Center.
The Anniversary Gala Luncheon, hosted on the Baltimore waterfront, provides a unique opportunity for guests to network with clean energy industry leaders, innovators, and policymakers. Proceeds from the event will benefit the Climate Catalytic Capital (C3) Fund, with at least 40% of the investments targeted to support low-income households and communities across Maryland to provide them with access to essential decarbonization solutions.
Established under the Climate Solutions Now Act (CSNA) of 2022 MCEC officially launched the C3 Fund in February. The fund was designed to advance clean energy technologies to reduce greenhouse gas emissions and address climate change, with a strong focus on equitability. With an initial allocation of $15 million over three fiscal years, the C3 Fund is committed to accelerating clean energy technology.
Since 2009, MCEC has played a crucial role in promoting clean energy in Maryland. Investments and initiatives implemented have averted 7,761 metric tons of CO2 emissions and saved 121 million kWh of energy, leading to $9.5 million in savings for consumers. Additionally, as a green bank, MCEC has transformed $15.4 million in public funding into $206.2 million in private investment, yielding a 13.3-fold return on the initial public investment.
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Maryland Clean Energy Center (MCEC) serves as the state green bank, which offers a broad range of resources to facilitate access to capital through leveraged or direct investment and operates financing programs targeted to serve various consumer audiences and underserved communities. MCEC provides specialized procurement and technical support to facilitate and expedite project implementation.
Climate Catalytic Capital (C3) Fund finances projects, companies, and technologies across the capital stack that reduce greenhouse gas emissions, mitigate climate change impacts, and help Maryland meet the standards of the Climate Solutions Now Act. At least 40% of the C3 Fund assists low-income households and communities.