Amalgamated Bank Commits $25M to Redball Energy for 30 MW Rooftop Solar in D.C., Maryland, and Connecticut

Amalgamated Bank, a subsidiary of Amalgamated Financial Corp. (NASDAQ:AMAL), today announced a $25 million corporate financing commitment to Redball EnergyCo, LLC, one of the leading developers, owners, and operators of residential and commercial solar assets headquartered in the Washington, D.C. area.

The investment is part of a $50 million aggregate financing that will support the deployment of over 30 megawatts (MW) of rooftop solar across D.C., Maryland, and Connecticut, delivering clean, renewable electricity to more than 4,400 households annually at no cost to the homeowners.

"Our work with Redball reflects Amalgamated's commitment to shaping a clean energy economy where everyone is included," said Sam Brown, Chief Banking Officer at Amalgamated Bank. "By expanding access to rooftop solar, we're lowering energy costs, strengthening household financial security, and demonstrating how mission-aligned banking can deliver climate solutions at scale while also delivering market returns for our investors."

"Redball was founded to unlock value in overlooked energy markets," said Greg Schmidt, Chief Financial Officer at Redball Energy. "With Amalgamated Bank's partnership and deep understanding of climate-aligned lending, we're accelerating our work to serve historically underserved communities with zero-carbon solutions that lower energy costs and build local resilience."

This marks the latest in a series of clean energy investments by Amalgamated Bank. Recently, the bank participated in a $1 billion financing round for Greenbacker's 674 MW Cider solar project – the largest in New York State. For Redball, this advances their focus on inclusive development which has allowed it to become a leader in the mid-Atlantic clean energy transition.