Akron PNC Center begins $8.5M PACE-financed energy efficiency project

The 23-story PNC Center in downtown Akron has begun work on an $8.5-million energy-efficiency improvement project funded through property-assessed clean energy (PACE) financing, the Akron Beacon-Journal reports. A 25,000-pound aging chiller and two boilers will be removed and replaced with more efficient heating and cooling systems. The project also includes new lighting and other energy-efficient upgrades. The Development Finance Authority of Summit County (DFA) is issuing bonds to finance the project; those bonds will be repaid over 18 years at an average rate of about $477,000 annually. For more, read the full article.

Energy Efficiency, Project Finance

St. Clairsville, Caldwell prisons awarded $11M in OAQDA financing for energy upgrades

A proposed energy conservation project at two Ohio prisons will receive $11 million in financing from the Ohio Air Quality Development Authority (OAQDA) to help fund upgrades to reduce energy and water consumption, The Daily Jeff reports. Johnson Controls Inc., will use the OAQDA financing for the installation of lighting retrofits, enhanced energy management systems, and water conservation measures at the Belmont Correctional Institution in St. Clairsville and Noble Correctional Institution in Caldwell. The project is expected to “reduce utility bills, operations and maintenance at both facilities combined by $1,042,360.17 annually, or approximately 21 percent,” according to the article. The resulting carbon dioxide and nitrogen dioxide emissions reduction will be equivalent to the amount produced by 1,137 cars on the road or 573 homes’ electricity usage. For more, read the full article

Energy Efficiency, Environmental, Project Finance

Bricker involved in Cleveland-area solar farm development

As announced by Columbus Business First (subscription required), IGS Energy of Dublin, Ohio, will build a large solar farm on former landfill property near Cleveland. The solar farm will spread across 17 acres and will consist of over 35,000 panels – the largest in the state. Energy generated from the panels will be used by Cuyahoga County to “power about 5 percent of 16 county government buildings.” Bricker attorneys represented Cuyahoga County in the transaction, closing $10 million financing for the project. Likewise, the firm negotiated several related agreements, including a 30-year power purchase agreement. The project is expected to be complete in summer 2018. 

Project Finance, Renewable Energy, Solar

Groups work together to create and expand Akron Summit County ESID

The Development Finance Authority of Summit County (DFA), along with Summit County and Akron, Barberton and Coventry Township, teamed up to create and expand the Akron Summit County Energy Special Improvement District (ESID), according to a recent DFA newsletter. The ESID enables property owners “to finance energy efficiency improvements” such as lighting, heating and air conditioning, new windows and roofing through a special property assessment, the article reports. Energy efficiency projects “can be financed in a number of ways,” including through a Northern Ohio Public Energy Consortium (NOPEC) revolving loan fund, “DFA Jobs & Investment Bond Fund and various private lenders.” Summit County Executive Ilene Shapiro said the plan is to continue working “to expand the ESID to all Summit County communities within the next year.” 

 

Energy Efficiency, Funding Opportunities, Project Finance

New Lima Energy Special Improvement District would help businesses fund energy upgrades

Several groups are working together to help Lima create an Energy Special Improvement District (ESID) so businesses can get help funding “utility and energy efficiency improvements,” The Lima News reports. Lima City Council “will vote on approving” the ESID recently created “under the lead of the Lima/Allen County Chamber of Commerce,” according to the article. Chamber President and CEO Jed Metzger said, “[t]o do an energy improvement district, you have to have a lead organization . . . to do the energy audit” and to do the energy upgrades. The district “would work with the Toledo-Lucas County Port Authority to secure funds for small businesses to improve such areas as lighting and heat as well as energy efficiency improvements, such as new windows or even roof work.” For more, read the full article.

Energy Efficiency, Project Finance

Financing for 100-MW Northwest Ohio Wind Project finalized

A $200-million project that will add “about 40 new wind turbines” in Paulding County will sell 100% of its energy output to General Motors, Paulding Progress reports. Starwood Energy Group Global LLC, “a leading private investment firm focused on energy infrastructure,” recently announced “it has finalized agreements to finance and construct the 100-megawatt (MW) Northwest Ohio Wind Project,” according to the article. An “affiliate of Citi has committed to provide tax equity for the project” which “is contracted to sell 100 percent of its output to General Motors pursuant to a long-term power purchase agreement.” Citi’s global head of alternative energy finance, Marshal Salant, said the “innovative partnership highlights Citi’s commitment to sustainable growth and to financing the development of clean renewable energy infrastructure.” For more, read the full article

Project Finance, Renewable Energy, Sustainability, Wind

Shelby County Recycling Center running on 50% solar power with new array

A Tipp City renewable energy company gained “an opportunity to shine light on its offerings close to its own backyard” with a recycling center’s solar project, the Dayton Daily News reports. OGW Energy Resources “installed a solar array system now being used to help power” the Shelby County Recycling Center in Sidney, according to the article. The solar system “is basically a small electric power plant” that produces “grid tied alternating current or A/C,” said Ray Davis, president of OGW Energy Resources. The project, “funded in part with a $70,067 grant from the Ohio Environmental Protection Agency,” is estimated to generate 50% of the facility’s energy needs. David said the project will help reduce the center’s operating costs. For more, read the full article

Project Finance, Renewable Energy, Solar

Akron’s Energy Special Improvement District expanded to all of Summit County

Summit County Council recently voted to “expand the Akron Energy Special Improvement District [ESID] throughout the county” to offer an incentive to organizations to “make energy-efficient improvements,” Cleveland.com reports. Businesses, local governments, and nonprofits “will be eligible to fund energy-efficient lighting upgrades, roof repairs, window repairs and other energy-efficient renovations through the Property Assessed Clean Energy program,” known as PACE, according to the article. The program allows commercial property owners to finance those improvements and repay the loans through property assessments. Summit County Executive Ilene Shapiro said the expansion “will create economic development opportunities that are not only energy efficient but financially beneficial for our largest cities and our smallest townships.” For more, read the full article

Energy Efficiency, Funding Opportunities, Project Finance

Ohio offers $11M in tax credits as Amazon eyes two more facilities in state

Monroe and North Randall could be the newest Ohio locations for Amazon distribution centers, and the state is offering $11.6 million in tax credits to help make that happen, The Columbus Dispatch reports. Amazon “officially announced plans for the North Randall project” that includes a $100 million investment “to develop an 855,000-square-foot center employing 2,000 workers earning $55.4 million a year,” according to the article. Amazon would invest $30 million in the Monroe project, which is expected to create “1,000 jobs with an annual payroll of $26.7 million if the company goes ahead with the project.” The Dayton Business Journal reports that a JobsOhio spokesperson “said it will continue to work with the company” and that the combined $11.6 million tax credit from The Ohio Tax Credit Authority was “an important step.” For more, read the full Columbus Dispatch and Dayton Business Journal articles. 

Manufacturing, Logistics & Transp., Project Finance

ODSA program offers low-interest loans for energy efficiency improvements

The Ohio Development Services Agency’s Energy Loan Fund is accepting applications from eligible organizations seeking low-interest financing for energy efficiency improvements. The fund offers loans from $250,000 up to $2.5 million for projects to install efficiency measures that reduce energy by at least 15 percent. Those eligible to apply include small businesses, manufacturers, local governments, nonprofit organizations, school districts, colleges and universities. For program guidelines and information on the application process, click here.

Energy Efficiency, Funding Opportunities, Project Finance
  • 1
  • 2
  • 3
  • 4