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NEWS
Hospital Hima + Sanpablo
The lender put in $1.8M of capital (1.64 years of payback) at 5-year, 10% interest rate. A DEP predecessor entity gets $3.3M ($874K net of interest) shared energy savings (incl. $238K upfront developer fees)
HIMA put no money down and retain 40% of the energy savings, or $2.2M, after paying back the lender for the first 5 years. It’ll also retain 100% of the energy savings after 5 years and from higher electricity cost in the future
Ana G. Mendez
University System
The lender put in $2.1M of capital (2.19 years of payback) at 6-year, 8.61% interest rate. DEP predecessor entity gets $5.7M ($3.2M net of interest) shared savings over 10 years (incl. $263K upfront developer fees)
The university put no money down and retain 40% of the energy savings, or $3.8M, after paying back the lender. It’ll also retain 100% of the energy savings from higher electricity cost in the future
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