Infrastructure Bank Announces $20 Million in Financing for New Kent County Water Authority Administration and Maintenance Facility

Infrastructure Bank Announces $20 Million in Financing for New Kent County Water Authority Administration and Maintenance Facility

Jan 26 2022
Suh

Infrastructure Bank Announces $20 Million in Financing for New Kent County Water Authority Administration and Maintenance Facility

 

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank (Infrastructure Bank) today announced a $20 million loan to the Kent County Water Authority, enabling the Authority to move forward with the construction of a new energy efficient administration and maintenance facility in West Greenwich. Financing was provided through the Bank’s Drinking Water State Revolving Fund and Efficient Buildings Fund programs.

 

“We have significantly outgrown our current facility, and that is why we are so pleased to partner with the Infrastructure Bank on a $20 million financing package that will allow us to build a brand new, state -of-the-art energy efficient administration and maintenance facility to better serve our customers,” said David L. Simmons, PE, Executive Director and Chief Engineer of Kent County Water Authority. “In addition to meeting the spatial needs for future growth and an enhanced customer service experience, we are excited about the many energy efficiency features that will be integrated into the new building including a variable refrigerant flow (VRF) system, LED lighting, and enhanced insulation, just to name a few. In addition, the new facility will feature solar panels and charging stations for a fleet of electric vehicles. Combined, these elements will result in significant energy cost savings for the Authority and our customers while simultaneously moving toward our 100/100 goal to provide 100 % of the water service utilizing 100 % renewable energy sources. We want to thank the Infrastructure Bank for working with us to help make this important project a reality.”

 

“There is nothing more fundamental to Rhode Island’s communities, residents, and businesses than the reliable supply of clean, safe drinking water and that is why we are pleased to make this $20 million loan to enable the Kent County Water Authority to construct their new administration and maintenance facility,” said Infrastructure Bank CEO Jeffrey R. Diehl. “Through the combination of our Drinking Water State Revolving Fund and Efficient Buildings Fund programs, this loan will allow the Authority to continue to supply drinking water to their customers for decades to come, while also delivering energy cost savings.”

 

# # #

About 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

 

About the Kent County Water Authority

The Kent County Water Authority supplies and distributes water services on a retail basis to residential, commercial, industrial, and other consumers within reach of its existing infrastructure within Kent County and a portion of Cranston, Scituate, and a small area of North Kingstown. The Authority provides service to over 87,000 inhabitants through 26,700 service connections and 457 miles of water main. kentcountywater.org