“We work with clients who are the developers of these various power projects and handle the financing for construction and operation of new projects or the refinancing of existing projects — the vast majority of these are sustainably oriented,” Park explains. As he describes it, the group’s portfolio is focused on several energy- and power-related sectors. “Most of our portfolio involves financing for new solar projects ranging from large, utility-scale projects in the $500 to $700 million range, to portfolios of smaller commercial
capacity. With each GW providing energy to 150,000 homes, that funding helps power more than 5 million households. Such impressive success didn’t simply happen. It involved a lot of hard work. “Coming into this sector — power project financing — is difficult, so we had to get ramped up for these kinds of projects very quickly and thoroughly,” Park notes. “It’s a credit to our team and to the bank’s management and credit department that they were able to get up to speed as rapidly as they did in order to understand the risks involved and how to manage them effectively. I attribute the growth and the ‘buy-in’ to this group to them: the stakeholders who took the time to learn about and understand these complex renewable power projects.” Making green an inside job CB&T’s commitment to “green and clean” energy doesn’t merely extend to its external clients. The bank’s dedication to sustainability, green building and the environment reaches throughout the nearly 95 CB&T branches and admin centers throughout California. Michael Edson, CB&T’s first vice president and facilities operations manager, helps implement the company’s sustainability commitments and with his team, supervises the daily facilities management of every CB&T structure in California. To say that he is passionate about his job and that commitment is a marked understatement. Edson’s operating principal is straightforward. “The question I ask of every building I oversee is this, ‘How can we make this structure operate more efficiently, more economically?’ To that end, we
projects, such as solar panel
“Most of our portfolio involves financing for new solar projects ranging from large, utility-scale projects to portfolios of smaller commercial projects.” Robert Park Executive Vice President and Director of Power & Finance, Zions Bancorporation
installations on the rooftops of big box stores or parking garages.” He adds that CB&T also focuses on large, utility- scale wind-power projects, financing the development and construction of these innovative power generators. It also handles financing for large, clean and efficient
natural gas-fired power plants and, on a smaller scale, some battery storage and transmission line systems. The funds at the Power & Finance Group’s disposal are earmarked for a very select number of projects. “These solar and wind projects represent an important part of what we consider responsible growth for CB&T,” Park says. “In fact, that’s why the group was formed.” Gigawatt ‘Cumulative Capacity’ growth Since its inception, the Power & Finance Division has shown marked success. As of late 2021, through its increasing roster of projects, the bank has financed nearly 40 gigawatts (GW) of renewable energy
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IN YOUR CORNER ISSUE 10 | 2022
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