MINNEAPOLIS–PACE Loan Group, a Minneapolis-based provider of commercial property assessed clean energy (CPACE) financing, announced the hiring of Bali Kumar as COO effective Jan. 1.
Kumar was previously CEO of Lean & Green Michigan, the statewide PACE program administrator in Michigan.
PLG CEO Rafi Golberstein’s hiring of Bali is expected to help PLG grow its national footprint. “Bali will help maximize in-house efficiency at PLG, while helping to simplify the PACE process for borrowers. PLG will immediately benefit from Bali’s knowledge of the intricacies of the various PACE programs across the United States, in addition to his enthusiasm for growing the PACE market. We are ecstatic to add him to our team,” Golberstein said.
As the CEO of Lean & Green Michigan, Kumar helped develop and deploy the PACE marketplace across Michigan. For his efforts, he was named one of the Energy News Network’s 40 under 40 honorees.
“I look forward to joining the team at PLG,” said Kumar. “PLG has carved out a niche providing efficient PACE loans with a hands-on expertise across the capital stack, and I am excited to further streamline the process for property owners and developers nationwide to use PACE financing.”
Prior to Lean & Green Michigan, Kumar served as the executive director of Michigan’s Wayne County Land Bank, where he worked on a wide range of programming to enact commercial and industrial redevelopment. Earlier, he practiced as an attorney at Proskauer Rose in the New York and Los Angeles offices, as well as serving as a management consultant at Deloitte UK in London, United Kingdom.
Kumar earned a Bachelor of Arts from Brown University, an Master of Science from the London School of Economics, and a law degree from the University of California, Berkeley.
PACE financing allows energy improvement and efficiency projects to be financed like a mortgage loan, allowing longer amortization periods and the transfer of the debt to new property owners like a mortgage.
More at www.paceloangroup.com.