Providence, RI February 8, 2017 — Rhode Island Infrastructure Bank (RIIB), through its Rhode Island Commercial Property Assessed Clean Energy Program (RI C-PACE), is pleased to join other organizations as a Media Partner during the second annual PACENation Summit. The PACENation Summit is being held from February 13th – 15th in Denver, Colorado; bringing together government officials, financers and experts in the Property Assessed Clean Energy (PACE) field to grow the national PACE market. As a leader in the development of the C-PACE market, the Infrastructure Bank and its C-PACE program administrator, Sustainable Real Estate Solutions (SRS), will exhibit at the conference, meeting with attendees in the PACE field to attract additional private capital to the Rhode Island C-PACE market.
One of RIIB’s many successful programs is the RI C-PACE program. Launched in May 2016, RI C-PACE has built a rapidly growing pipeline of projects that we expect to close in 2017 and exceeds $12 million in value across 25 different municipalities. RI C-PACE has held several training workshops for contractors, building owners and lenders interested in C-PACE and expects to close its first projects shortly. In addition, the RI C-PACE program has recently expanded the program to finance new construction projects.
Jeffrey Diehl, Executive Director and CEO of Rhode Island Infrastructure Bank, said that RIIB is pleased with the progress of its C-PACE program. Diehl added, “We structured Rhode Island’s C-PACE program as an open platform, where both vendors and capital providers compete for business enabling the building owner to access attractive lending terms. SRS, our program administrator, independently reviews the technical and financial merits of each project, providing building owners with the confidence that the investments they are making are economically sound and meet the requirements of the program.”
The full press release can be found here.