Largest C-PACE deal in PA marks key milestone in Philadelphia
PHILADELPHIA, Dec. 13, 2022 /PRNewswire/ — Nuveen Green Capital and the Philadelphia Energy Authority announced the closing of $30.08 million in Commercial Property Assessed Clean Energy (C-PACE) financing for a Freezpak cold storage facility at 2201 E. Allegheny Avenue in the Port Richmond neighborhood of Philadelphia. This is the largest C-PACE deal to-date in Pennsylvania and brings the total amount of C-PACE dollars invested by private sector lenders to $100MM in Philadelphia, a true landmark in the program which became active in late 2019.
C-PACE financing for this project is being used for extensive energy efficiency improvements, making the building 30% more efficient than required by Philadelphia’s building energy code. Financed measures include energy efficient walls and glass, interior and exterior LED…
Philadelphia C-PACE hits $100MM in Clean Energy Financing
