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NW served as financial advisor and provided financing for the purpose of securing and installing energy efficiency measures and projects for the State agencies and departments in the State of Delaware.
Through the utilization of the Delaware Sustainable Energy Utility, NW, along with others in the consulting group, was able to structure a financing that provided funds to install sustainable energy projects for 3 State agencies and departments, Delaware State University and Delaware Technical and Community College. The financing plan included the utilization of 6 different energy companies (ESCOs), short term financing, long term financing, and capitalized interest. This was the first pooled sustainable energy project financing completed in the U.S.
In addition to the benefits associated with shared services and a single financing versus multiple financings, the State agencies were able to save on energy costs and install new equipment paid for from energy savings.
NW served as co-financial advisor and provided services in connection with the plan of finance, debt structuring, coordination of the ESCOs and participating agencies, and pricing the bonds. .
Key Staff: Douglas Bacher, Principal
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