$87.4 Million Approved for Energy and Water Conservation Projects
ATLANTA – The Georgia Environmental Finance Authority (GEFA) announced today that $87,395,000 in third-party financing has been authorized and allocated for six state agencies to complete energy and water conservation projects through GEFA’s FY2015 Guaranteed Energy Savings Performance Contracting Program. Energy performance contracting allows the state to finance building improvements designed to lower energy use and water consumption.
- The agencies below will be able to enter multiyear contracts to evaluate, identify and implement energy conservation measures with guaranteed savings that pay for the contracted costs:
- The Department of Corrections will be able to contract up to $28.6 million for multiple prisons.
- The Georgia World Congress Center Authority will be able to contract up to $28.1 million for campus wide improvements.
- The Georgia Department of Transportation will be able to contract up to $12.3 million for several department buildings.
- The University System of Georgia will be able to contract up to $10.2 million for improvements at the Georgia Institute of Technology and the University of Georgia.
- The Department of Juvenile Justice will be able to contract up to $3.1 million for several campuses across Georgia.
- The North Georgia Mountains Authority will be able to contract up to $5.1 million for various lodges and resorts.
- All of the projects will perform annual energy and water savings measurement and verification.
“Conservation measures implemented through energy performance contracts provide state facilities with immediate and future energy and water savings. Energy performance contracting improves facility efficiency, saves taxpayer dollars, and promotes the state’s culture of conservation.” – GEFA Executive Director Kevin Clark.
Through energy performance contracting, state agencies can use funds normally spent on utility bills to finance building improvements designed to lower energy and water consumption. The state goes through an open, competitive process to choose an energy services company to implement conservation measures at state facilities. The energy services company selected must guarantee that the state will save a certain amount of energy and water with the installation of energy- and water-efficient equipment and systems. The state uses the guaranteed savings to pay for the work over a period of years.
Energy performance contracting also helps the state meet its commitment to the Georgia Energy Challenge and reduce energy consumption by 15 percent in state facilities, as well as save taxpayer dollars in energy bills.
The total contract value for FY2015 of $87.4 million was approved by the Georgia State Financing and Investment Commission (GSFIC) on June 18, 2014.