Massachusetts awards $418M in low-interest loans for energy projects
Massachusetts has a statewide effort aimed at improving water quality, upgrading or replacing aging wastewater infrastructure and cutting energy use and costs.
The Patrick-Murray Administration said yesterday that it has awarded almost $418 million in 2 percent interest loans to fund 90 construction and planning projects statewide that are aimed at improving water quality, upgrading or replacing aging wastewater infrastructure and cutting energy use and costs.
The Commonwealth is offering the low-cost State Revolving Fund (SRF) financing to 71 communities throughout Massachusetts to fund projects implemented by cities and towns, regional water supply and wastewater treatment districts, and the Massachusetts Water Resources Authority. The projects include 55 clean water initiatives totaling more than $303 million and 35 drinking water projects totaling nearly $115 million.
In line with the Massachusetts Department of Environmental Protection Clean Energy Results Program, 38 of the 90 projects, or $124 million of the total $418 million, are for green infrastructure projects or green components of projects. Those projects involve energy efficiency upgrades to treatment plants and the on-site installation of renewable energy technologies for solar and wind power.
Communities offered SRF funding in this round must decide to move forward with the project by June 30 and secure local funding authority.
“Investments in our water resources promotes public health and reduces energy use,” said Governor Deval Patrick in a prepared statement.
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