VirginiaSAVES Loan Program for Energy Projects Announced by Governor on Sept. 2, 2015; Expected to Provide $20 Million in Loans for Projects in Renewable Energy and Energy Efficiency

On September 2, 2015, Virginia Governor Terry McAuliffe’s office announced the start of the VirginiaSAVES program to provide low-cost loans for renewable energy projects, energy efficiency improvements, and alternative fuel projects. Following are the hyperlinked headline and an excerpt from the governor’s office’s news release on the program.

Governor McAuliffe Announces $20 Million to Improve Energy Efficiency in Virginia; VirginiaSAVES will facilitate low interest loans for approved projects, 9/2/15.

Excerpt:
“Governor Terry McAuliffe announced today the launch of VirginiaSAVES, the Commonwealth’s first Green Community Program.  VirginiaSAVES is a loan program created to lower financing costs for energy efficiency, renewable energy generation and alternative fuel projects.  This low-cost financing tool will be available to local government, institutional and commercial and industrial entities in the Commonwealth.  VirginiaSAVES will be funded through $20 million in federally-allocated Qualified Energy Conservation Bonds (QECBs). … Developed by the Division of Energy of the Virginia Department of Mines, Minerals and Energy, VirginiaSAVES (which stands for Sustainable and Verifiable Energy Savings) is administered by Clean Source Capital and Abundant Power Group.

“Those interested in applying for a loan through the VirginiaSAVES Green Community Program can visit the program’s website (http://www.vasavesgcp.com) for borrower eligibility and project selection criteria, service provider registration forms, and other program documents and information.

“CleanSource Capital, LLC – CleanSource, based in Charlotte, NC, is the administrator of the Program and is the affiliate formed by Abundant Power Group to administer and grow its SAVES platform using alternative forms of specialized financing as well as provide specialty finance solutions and advisory services in the energy efficiency industry.

“Abundant Power Group, LLC (www.AbundantPower.com) – Abundant Power, based in Charlotte, NC, is an energy management services company providing financial and technology solutions for the built environment ecosystem.”

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