Zions Bancorporation, National Bank of Arizona Launch Zions Energy Link

New division to provide simple, streamlined financing for sustainable projects in 10 western states

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Nov 02, 2010, 03:22 ET

SALT LAKE CITY, Nov. 2, 2010 /PRNewswire/ -- Zions Bancorporation and its subsidiary National Bank of Arizona (NBA) announced today the launch of Zions Energy Link, a division that will specialize in the sustainable energy finance sector.

Zions Energy Link will provide simple, streamlined and cost-effective financing solutions for energy efficiency and renewable energy projects in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. It will have a host of specialist lenders in these 10 states that are knowledgeable in government grants applicable to renewable energy generation projects. Energy Link is committed to actively reviewing funding opportunities of both large and small projects, with current projects in the pipeline ranging from less than $10 million to more than $100 million.

Craig Robb, formally the chief financial officer of NBA who has been at the helm of the bank's venture focusing on sustainable programs, accepted a new role as managing director of Zions Energy Link. In this new position, Robb and his team will support the efforts of Zions' affiliate banks to replicate and build upon NBA's success in the sustainability finance sector. Under Robb's leadership, NBA has become a recognized leader of financing for energy efficiency and renewable projects.

"The missing link for the majority of individuals, businesses and organizations to embrace sustainability and eco-friendly programs is the significant upfront cost involved. With the launch of Zions Energy Link, we aim to provide the much-needed missing link that allows sustainable and renewable energy to be both accessible and affordable," said Craig Robb, managing director of Zions Energy Link. "We are creating a financing opportunity that doesn't exist in the marketplace today and, in doing so, are reinforcing the relevance of regional banks and our impact on both the local and national economy."

Zions Energy Link will provide financing for all levels of sustainable initiatives including residential, commercial and utility-scale projects. In particular, under Robb's direction, the Energy Link lending team is actively seeking financing opportunities that will access billions of dollars of loan guarantees available from the Department of Energy's and Department of Agriculture's loan guarantee programs as well as other government programs in conjunction with its Washington, D.C.-based partner, Interlink Capital Strategies.

National Bank of Arizona has made significant ongoing sustainable investments and to-date has financed more than $100 million for energy efficiency and sustainable programs in Arizona. The most notable include Solar Phoenix, the nation's largest and fastest-growing city-sponsored residential solar financing program, made possible by $25 million in financing from NBA. The bank also partnered with various organizations to create one of the nation's largest distributed, community-wide solar power systems at Soaring Heights Communities at Davis-Monthan Air Force Base in Tucson. Upon completion, the community is expected to be the largest solar-powered community in the continental U.S. For more information, please visit www.nbarizona.com.

Zions Bancorporation is one of the nation's premier financial services companies, consisting of a collection of great banks in select high growth markets. Zions operates its banking businesses under local management teams and community identities through approximately 500 offices in ten Western and Southwestern states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. The Company is a national leader in Small Business Administration lending and public finance advisory services. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. www.zionsbancorporation.com

Founded in Tucson, Ariz., in 1984, National Bank of Arizona is a community bank serving professionals and meeting the needs of small and mid-sized Arizona businesses. Arizona's fourth-largest bank with more than $4.5 billion in assets, National Bank has over 76 offices throughout the state. For more information, visit www.nbarizona.com.

SOURCE Zions Bancorporation