Taking the lead in providing banking services for clean energy companies throughout California, River City Bank (RCB) recently launched its new Clean Energy Division. RCB has taken a bold step into this fast-growing space, earning an award from the City of Davis for its beneficial environmental quality contributions and dedication to helping Community Choice Aggregation (CCA) businesses provide locally-supported clean energy. With the launch of its new Clean Energy Division, RCB will continue to service its existing CCA clients and focus on expanding relationships with other players within the clean energy sector, all the while supporting California’s climate action goals.
“Seeing the positive impact of CCAs in California since the launch of Marin Clean Energy in 2010, we were able to gain first-mover advantage in this space,” said Steve Fleming, President and CEO of River City Bank. “Part of the reason for the launch of our new Clean Energy Division is the cultural fit between River City Bank and the CCAs. Specifically, CCA entities prefer to work with community banks which are committed to supporting renewable energy, consumer choice, and local decision making.”
Based in the Bay Area, Rosa Hilmarsdottir Cucicea, Vice President & Clean Energy Division Manager, is tasked to lead the charge. Over the past few years, Rosa has managed and grown the Bank’s clean energy portfolio.
Given its experience in the complexities and nuances of this specialized field, RCB is able to provide over a dozen CCA clients with custom-tailored solutions spanning start-up capital, lines of credit, renewable energy project financing and custodian “lockbox” accounts.