PROVIDENCE, R.I. – Rhode Island Infrastructure Bank has closed on a $5,500,000 Efficient Buildings Fund loan for numerous energy efficiency measures to be implemented at Providence Water’s water treatment facility and pump stations.
“Providence Water has been a real leader in adopting renewable and energy efficient systems, and this $5.5 million loan from our Efficient Buildings Fund will allow them to continue this work through energy efficiency improvements at their Scituate water treatment facility and pump stations,” said Jeffrey Diehl, CEO of Rhode Island Infrastructure Bank. “Through this and other measures, like their solar array, Providence Water is saving on long-term energy costs and reducing emissions.”
“Rhode Island Infrastructure Bank has been a tremendous partner to Providence Water, and this Efficient Buildings Fund loan will allow us to invest in several major energy efficiency projects that will save ratepayer dollars in the form of lower energy costs,” said Ricky Caruolo, General Manager of Providence Water. “Through projects like this and our 4.99 megawatt solar array, we are proud to be 100% green and utilizing all electricity from our own renewable energy systems that produce no greenhouse gas emissions. That’s good for our rate payers in the form of lower energy costs and for the environment. We thank the team at Rhode Island Infrastructure Bank for working with us to help Providence Water achieve our energy efficiency goals.” Energy efficiency projects to be implemented include generator replacements, HVAC unit replacements, replacing boilers, replacing air scour blowers, and lighting upgrades.
About the Rhode Island Infrastructure Bank
Rhode Island Infrastructure Bank is Rhode Island’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners. We leverage capital in a revolving fund to offer innovative financing for an array of infrastructure-based projects including water and wastewater, road and bridge, energy efficiency and renewable energy, and brownfield remediation. These quality-of-life projects improve the State’s infrastructure, create jobs, promote economic development, and enhance the environment. www.riib.org – Facebook: @RIinfrastructure – Twitter: @RI_InfraBank
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