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MassDevelopment In The News
MassDevelopment Closes on $3.1 Million for Green Buildings
November 13, 2007: Boston Business Journal
Massachusetts prisons, community colleges and other state facilities are going green, thanks to a $3.13 million federal bond that helped them purchase solar energy panels.
The money will be used to help pay for the installation of photovoltaic cells at 12 state facilities including Massachusetts Department of Corrections prisons or jails in Bridgewater, Concord, Cedar Junction, Norfolk and South Middlesex.
Officials estimate the project will increase solar capacity statewide by nearly 25 percent.
The Massachusetts Water Resources Authority's facility on Deer Island, Mount Wachusett Community College in Gardner, North Shore Community College in Lynn, Salem State College, the Soldier's Home of Massachusetts in Chelsea, Springfield Technical Community College and Worcester State College will also gain the new panels.
MassDevelopment announced Tuesday that it had closed funding, through federally-sponsored Clean Renewable Energy Bonds issued on behalf of the state. The no-interest bond program will save the state more than $180,000 in annual energy costs, plus over $1 million in borrowing costs. The savings is expected to help pay off the bonds.
MassDevelopment said the panels will help reduce carbon dioxide emissions by 500 metric tons annually.
© Copyright 2007 Boston Business Journal.
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