CisionWire
PA Treasurer McCord Unveils Innovative Energy Efficiency Program to Help
Colleges Finance Money-Saving, Job-Creating Energy Efficiency
Projects Read
more >>
Philadelphia Business Journal
Pa. links with private equity for college energy efficiency program Read
more >>
Mitsui USA and Transcend Equity Development Agree to Form Innovative
Joint Venture in Energy Efficiency Read
more >>
NYinc Magazine
Sean Neill interviewed by NYinc Magazine for EcoPeople Section. Read
more >>
Energy Misers: Company helps landlords save on electricity without capital
outlays. Read
more >>
Possible and Profitable: Energy Efficiency Investments in the Building
Sector Read
more >>
Transcend Equity Ready to Expand Green Plan Read
more >>
PA
Treasurer McCord Unveils Innovative Energy Efficiency
Program to Help Colleges Finance Money-Saving,
Job-Creating Energy Efficiency Projects
Drexel University first school to take advantage
of unique financing opportunity from Treasury and Blue
Hill Partners
Philadelphia, Oct. 5, 2011 – State Treasurer
Rob McCord visited Drexel University today to unveil
an innovative financing opportunity that will help
Pennsylvania colleges and universities cut utility
costs through job-creating energy efficiency improvements
that will also contribute to a cleaner environment.
The Campus Energy Efficiency Fund is a first-of-its-kind
investment that can generate as much as $45 million
in improvements at as many as 12 schools through projects
creating more than 700 new jobs. Over the 20-year useful
life of these projects, schools are expected to save
$150 million in utility costs and reduce their carbon
dioxide footprint by 1.4 million tons – or the
equivalent annual emissions of 250,000 cars.
Drexel University is the inaugural participant in the
Campus Energy Efficiency Fund, which Treasury developed
in partnership with Philadelphia-based Blue Hill Partners.
“
The Campus Energy Efficiency Fund is exactly the type
of investment I look for as State Treasurer. It generates
positive returns for the people of Pennsylvania and
helps cut costs at schools while also cutting carbon
emissions,” Treasurer McCord said. “Offering
colleges and universities a financing model for energy
efficiency projects is a winner on all fronts – the
Commonwealth receives a market-based rate of return,
colleges cut costs that can ultimately help to keep
tuition down, and we increase energy conservation and
independence.”
