HartfordBusiness.com
A Publication of the Hartford Business Journal
The owner of three Connecticut commercial buildings has received more than $5 million in private financing through the state’s Commercial Property Assessed Clean Energy program.
C-PACE leverages public dollars to obtain private funding for energy efficiency and renewable energy products on commercial property. Under the program, the property owners pay no upfront costs and the annual payments on their loans are less than the annual energy savings from their upgrades.
Mark Greenberg received $5.05 million in C-PACE financing for his properties in Middletown, Windsor, and Simsbury.
The Middletown property at 100 Roscommon Dr. received $2.5 million for new air units, lights, occupancy sensors, and a solar array. The expected energy savings are $192,000 annually.
The Windsor property at 80 Lamberton Road received $1.8 million for new lights, occupancy sensors, and new rooftop units. The expected energy savings are $168,000 annually.
The Simsbury property at 86 Hopmeadow St. received $693,227 for air leak improvements and new lights, occupancy sensors, rooftop units, and an energy management system. The projects annual savings are $62,000.
More than $15 million in C-PACE financing has been approved since the Clean Energy Finance & Investment Authority launched the program in January 2013.