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Name |
Edmonton Alberta's Energy Management Revolving Fund |
Status |
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Active |
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Funding Mechanism |
Loan fund |
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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 |
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Objectives |
To create a revolving loan fund to provide financing for energy retrofits in City facilities. |
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Sponsors |
Edmonton City Council |
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Eligible Sectors |
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Eligible Projects/Technologies |
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Fund Endowment |
Currently $5 million Canadian borrowing capacity |
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Terms |
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-Funding Instruments |
Municipality Association debenture funding |
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-Interest Rates |
5-7% |
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-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. |
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-Size |
Typically in range of $100 to $200k per major building |
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-Collateral |
No |
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-Share of loan in project cost |
100 % |
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-Loan criteria |
Meet 5 year payback threshold, possibility of 8 year on exception basis |
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Comments |
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Sources |
Edmonton Office of the Environment
Energy Efficient Revolving Fund |
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Contact Information |
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