CLEVELAND, Ohio, April 18,
2024 /PRNewswire/ -- Growth Opportunity Partners
(Growth Opps), a leading community financial institution and Green
Bank, and the International Brotherhood of Electrical Workers
(IBEW) today announced a groundbreaking agreement to collaborate on
the implementation of the Solar for All program, funded under the
U.S. Environmental Protection Agency's Greenhouse Gas Reduction
Fund. Growth Opps is the lead applicant for the $250 million grant on behalf of the Industrial
Heartland Solar Coalition (IHSC), representing 31 cities in 8
states.
Growth Opps and IBEW announce a
landmark partnership to collaborate on the implementation of the
Solar for All program.
The Industrial Heartland Solar Coalition application to the EPA,
led by Growth Opps and presented to the Solar for All program,
uniquely provides full funding for residential and community solar
installations by leveraging the energy tax credits newly available
through the Inflation Reduction Act and transfers ownership of
residential solar energy projects to program beneficiaries at no
cost. The program will impact nearly 30,000 homes across IHSC's
eight-state region, with 100% of its benefits going to Justice40
communities.
The Memorandum of Understanding between Growth Opps and IBEW
outlines their commitment to ensuring high-quality jobs with a
diverse and skilled workforce for projects financed by the
Greenhouse Gas Reduction Fund. Both organizations will work
together to promote the use of Labor Agreements, comply with
Davis-Bacon requirements, and expand IBEW's training and
apprenticeship programs to create opportunities for people of
color, women, and workers from economically disadvantaged
backgrounds and communities.
"At Growth Opps, we are committed to Meaningful Wage Jobs," said
Growth Opps CEO Michael Jeans. "This
partnership ensures we will have a skilled labor force ready to
provide high quality solar installations to complete nearly 30,000
rooftops for low-income residents."
"This agreement with Growth Opps is a win, for both the climate
and working people," said IBEW International President Kenneth Cooper. "This partnership will help
ensure the growth of residential renewable power, while creating
good, family sustaining IBEW jobs that will open the doors of
opportunity for communities across the country."
The Solar for All program, administered by Growth Opps, will
provide subawards to a network of community foundations, cities,
and counties that constitute the IHSC. These program partners will
play a crucial role in identifying eligible applicants and
beneficiaries while also contributing to the development of a clean
energy workforce in their respective communities.
For more information about the Solar for All program and the
partnership between Growth Opportunity Partners and IBEW, please
visit www.growthopps.org, or contact us at (216) 462-0600 or
info@growthopps.org.
About Growth Opportunity Partners
Growth Opportunity
Partners (Growth Opps) is a mission-based community financial
institution and Green Bank dedicated to providing community
development capital, services, and solutions to growing small
businesses, primarily located in disadvantaged, low and moderate
income (LMI) communities. Recognizing that capital markets have
historically failed to reach low-income and communities of color in
the same manner as others, Growth Opps was created to make capital,
professional high quality advisory services, and data accessible.
The organization bridges the gap between opportunity and access,
ensuring that all communities have the resources they need to
thrive.
About the International Brotherhood of Electrical Workers
(IBEW)
The International Brotherhood of Electrical Workers
(IBEW) represents approximately 820,000 members and retirees who
work in a wide variety of fields, including construction,
utilities, manufacturing, telecommunications, broadcasting,
railroads, and government. The IBEW is committed to promoting
excellence in the electrical industry and ensuring that its members
have access to safe working conditions, fair wages, and
comprehensive benefits.
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SOURCE Growth Opportunity Partners, Inc.