After the article quoted below appeared, the Feds decided to bailout the Silicon Valley Bank. They claimed that this was a selective action–not one they would equally apply to all failed banks.
(p. B1) “Silicon Valley Bank was in many ways a climate bank,” said Kiran Bhatraju, chief executive of Arcadia, the largest community solar manager in the country. “When you have the majority of the market banking through one institution, there’s going to be a lot of collateral damage.”
Community solar projects appear to be especially hard hit. Silicon Valley Bank said that it led or participated in 62 percent of financing deals for community solar projects, which are smaller-scale solar projects that often serve lower-income residential areas.
. . .
The collapse of Silicon Valley Bank threatens to derail what was a fast and growing part of the venture capital sector. More than $28 billion was invested in climate technology start-ups last year, up sharply from the year before, according to HolonIQ, a data provider.
For the full story, see:
(Note: ellipsis added.)
(Note: the online version of the story has the date March 12, and has the title “Silicon Valley Bank Collapse Threatens Climate Start-Ups.”)