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300 Colorado St., Suite 2000, Austin, Texas 78701  
O: 512.599.9037      FAX: 512.532.0792     
 
April 24, 2026 
 
Senator James and Members of the Committee: 
 
I am writing as a member of the Board of Directors of the C-PACE Alliance, the industry trade 
group or all C-PACE capital providers and transaction partners, and on behalf of Petro PACE 
Finance, LLC, on of the nation’s leading C-PACE capital providers, in support of the legislation 
authorizing the establishing of a Commercial PACE program in the US Virgin Islands. 
 
In my role, I have helped legislatures across the country draft C-PACE statutes that conform to 
the prevailing best practices that have helped the industry grow over 500% over the past 10 
years. Most recently, I worked with the New Hampshire legislature on amending their C-PACE 
statute to make it workable, and just last month Alabama signed amendments into law I helped to 
draft that will allow C-PACE to begin in their state. 
 
I also worked with members of the US Virgin Islands community on the initial draft the current 
legislation.  
 
In its current form, the legislation will allow C-PACE to begin in the communities of the US 
Virgin Islands. C-PACE financing is available in 38 states and the District of Columbia as a 
financing tool for commercial property owners who wish to upgrade their building with energy 
efficiency or renewable energy improvements.  C-PACE financing is supplied entirely by the 
private sector at no cost or financial risk to the state or local government.   
 
It is important to know that under the proposed bill, any other lender on the property must give 
consent for C-PACE financing to be utilized. 
 
I appreciate the opportunity to testify in this legislation and look forward to collaborating with 
communities in the US Virgin Islands to launch C-PACE programs in the near future. 
 
Sincerely, 
 
 
 
MICHAEL YAKI 
Senior Vice President and Sr. Counsel 
Petros PACE Finance, LLC