GEFA Reduces Interest Rate for Energy, Land and Water Conservation Projects
ATLANTA - The Georgia Environmental Finance Authority (GEFA) today announced that all eligible energy, land, and water conservation projects will receive a 1 percent interest rate reduction. Previously, the interest rate reduction only applied to loans for water conservation projects.
An eligible energy, land or water conservation project may now receive a 1 percent interest rate reduction below the prevailing interest rate for the program through which it’s funded – Georgia Fund, Clean Water State Revolving Fund or Drinking Water State Revolving Fund.
Over the last seven years, GEFA has provided more than $79 million in low-interest financing for water conservation projects.
Gov. Nathan Deal stated, “Developing innovative ways to maintain our rich natural resources is not only important for the environment, but also for the economic development of our state. I applaud GEFA for making energy, land and water conservation projects more accessible and financially sound for Georgia. It is my hope that we continue to grow in our conservation efforts, and to work to ensure that Georgia’s natural resources can sustainably meet the needs of economic development in the state.”
“GEFA is excited to extend reduced interest rates to energy and land conservation projects,” said GEFA Executive Director Kevin Clark. “We hope that this initiative will encourage communities throughout the state to complete conservation projects that protect the state’s energy, land and water resources and support the state’s culture of conservation.”
Eligible energy conservation projects include, but are not limited to, landfill methane gas collection; geothermal, solar and wind power production; combined heat and power; energy management planning; inflow/infiltration (I/I) detection equipment and projects; lighting upgrades; and installation of energy efficient treatment equipment and processes.
Eligible land conservation projects must result in the permanent protection of conservation land and convey some form of water quality benefit.
Eligible water conservation projects include, but are not limited to, water auditing; leak detection and repair, line rehabilitation and replacement; new or replacement water meters; high-efficiency fixture programs; and water reuse projects.