EPA Announces New WIFIA Funding for Water Infrastructure Projects
The U.S. Environmental Protection Agency has announced the availability of funding to provide an estimated $6 billion in Water Infrastructure Finance and Innovation Act (WIFIA) loans in 2019. WIFIA loans are available to public and private borrowers for a wide range of drinking water, wastewater, drought mitigation, and alternative water supply projects.
Petros PACE Closes $1.2M in C-PACE Financing in OH
Petros PACE Finance, LLC announced the closing of a $1.2 million Commercial Property Assessed Clean Energy (C-PACE) transaction in Toledo, Ohio, marking Toledo's first privately funded C-PACE project and Ohio's first Opportunity Zone project to include C-PACE financing. The Toledo-Lucas Port Authority is the C-PACE program administrator and Coda Management Group is the developer.
EPA Completes $99.7M Loan to Miami-Dade County, FL
With EPA's WIFIA loan, Miami-Dade Water and Sewer Department will construct deep injection wells at its three wastewater treatment plants to allow for the redirecting of treated wastewater from the ocean outfalls. The project will also increase availability of reclaimed water for potential reuse, reduce sanitary sewer overflows for the county's 2.3 million residents.
What Are Green Bonds and How ‘Green' Is Green?
Trillions of dollars of investment are needed to combat global warming. Enter green bonds, a way for issuers to raise money specifically for environmentally friendly projects - such as renewable energy or clean transport - and to be able to boast about it publicly. Fund managers also like the notes as a way of meeting growing investor demand for sustainable options.
A Closer Look at Environmental Impact Bonds
EIBs are instruments for financing large projects that pay returns based on outcomes. Like Green Bonds, they are commonly used to raise funding for environmentally sustainable projects, such as green infrastructure. Unlike Green Bonds, however, the financial return of the investment is tied directly to the success of the project. In other words, investors can only collect a return on their investment if the project proves to be successful.
USDA Invests in Rural Electric Infrastructure and Smart Grids in 13 States
Acting Assistant to the Secretary for Rural Development Joel Baxley announced that USDA is investing $485 million to upgrade rural electric systems and reduce energy costs. The funding includes nearly $7.1 million for smart grid technologies that improve system operations and monitor grid security. USDA is providing financing through the Electric Loan Program to improve rural electric infrastructure in GA, IL, IA, MI, MN, MS, MO, NM, NC, ND, SD, TX, and WI.
Brightmark Closes Financing for First U.S. Plastics-to-Fuel Plant
Brightmark Energy, a San Francisco-based waste and energy development company, has announced the closing of a $260 million financing package for the construction of what it says is the nation's first commercial-scale plastics-to-fuel plant, which will be located in Ashley, Indiana. The financing for the new facility includes $185 million in Indiana green bonds, which were underwritten by Goldman Sachs & Co.
USDA to Invest in MI Water Infrastructure
The U.S. Department of Agriculture announced a $7.7 million investment for several Michigan communities to help rebuild and improve rural water infrastructure. "These infrastructure improvements will impact more than just the 10,000 residents in the respective service areas," Allen said.
Two Cincinnati, OH Firms Split $11.7M in PACE Financing
Two health care firms in Greater Cincinnati were approved for millions of dollars in clean air financing by the Ohio Air Quality Development Authority. Both will use Property Assessed Clean Energy (PACE) financing in coordination with their lenders. The state program provides commercial, industrial, and multi-family building owners with access to low-cost, extended term capital to finance energy efficiency improvements.