Governor Kaine Announces Loan Program for Energy Efficiency Projects
Sep 28th, 2009 |
Governor Timothy M. Kaine on September 25th announced the recapitalization of the Commonwealth’s Energy Leasing Program, a loan program to finance energy efficiency projects in state agencies. The Commonwealth has secured $40 million in financing for the projects, including $10 million in capital from Grant Capital Management, a state-certified SWAM vendor. The loans are expected to be repaid by agencies from energy savings generated by the projects. The first loan from the program will be $6.6 million to George Mason University for a series of upgrades at their Fairfax and Prince William campuses, including improvements to lighting, irrigation, metering, and heating and cooling of facilities.
“One of the goals of my Renew Virginia initiative is to make Virginia a leader in energy efficiency, and there’s no better place to set a good example than in our state agencies and universities,” said Governor Kaine. “These projects will not only save the state money and reduce impact on the environment, but will show businesses and citizens that energy efficiency is within our reach.”