Boston-based Wainwright Bank & Trust Co. has provided financing in the form of a construction and term debt facility to an energy conservation company that serves New England.

GreenBridge Energy Consortium, based in Pennsylvania, will receive financing from Wainwright Bank to help nonprofit organizations benefit from clean energy generation without the risks of ownership or maintenance.

The credit facility provides the equivalent debt to complete an estimated 2 megawatts of projects which will produce enough electricity to power more than 250 Massachusetts homes per year and is estimated to yield air quality benefits and annual greenhouse gas reductions equal to taking over 300 cars off the road or planting more than 700 trees, according to a statement.

"Wainwright Bank is pleased to provide financing that will not only benefit nonprofits across the state, but help reduce general energy consumption," said Stephen Pratt-Otto, vice president of community development lending at Wainwright Bank.

GreenBridge Energy’s program is designed especially for nonprofits, which are not eligible for the federal incentives for solar energy systems under the American Recovery and Reinvestment Tax Act of 2009.

GreenBridge Energy’s first project was completed in March at the Boys & Girls Club of Lawrence. The company is also working on a "green" roof of the gymnasium at The Governor’s Academy in Byfield.

"We are excited to bring all of the benefits of clean energy to nonprofits, especially since the current incentives restrict them from directly taking advantage of renewable energy like solar," said Greg Bowden, chief operating officer at GreenBridge Energy. "Although nonprofits may be eligible for some state incentive and grant programs, by themselves these funds are generally not enough to make projects work financially. This is what makes our turnkey solar installation program so attractive to nonprofits throughout Massachusetts."