Edmonton Alberta's Energy Management Revolving Fund

Name

Edmonton Alberta's Energy Management Revolving Fund

Status

Active

Funding Mechanism

Loan fund

Duration

Established in 1994 using part of a 1993 budget surplus at $1 Canadian million level, increased in 2000 to $5 million Canadian in borrowing capacity

Objectives

To create a revolving loan fund to provide financing for energy retrofits in City facilities.

Sponsors

Edmonton City Council

Eligible Sectors

Eligible Projects/Technologies

Fund Endowment

Currently $5 million Canadian borrowing capacity

Terms

-Funding Instruments

Municipality Association debenture funding

-Interest Rates

5-7%

-Payback

1.5-4.8 with an average combined simple payback of 2.9 years. Loan repayment is calculated during the application process. The interest charge is equal to the city's short-term interest rate for the previous year. A fixed repayment schedule is calculated over five years, with the option of early repayment.

-Size

Typically in range of $100 to $200k per major building

-Collateral

No

-Share of loan in project cost

100 %

-Loan criteria

Meet 5 year payback threshold, possibility of 8 year on exception basis

Comments

Sources

Edmonton Office of the Environment

Energy Efficient Revolving Fund

Contact Information