St. Paul energy nonprofit seeks bonding for expansion

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St. Paul energy nonprofit seeks bonding for expansion

By District Energy posted 09-28-2017 00:00

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Clare Kennedy, Finance & Commerce

Summary

District Energy St. Paul Inc. is seeking $25 million in bonding.

The nonprofit energy producer, which heats and cools a significant chunk of downtown St. Paul, will use a portion of the money to upgrade its heating and cooling plants and extend its distribution system.

The St. Paul Port Authority Board on Tuesday approved a measure to issue conduit revenue bonds for District Energy, said Port Authority executive assistant Ann Kosel. The measure passed 6-0, with one member, Nneka Constantino, abstaining to avoid a conflict of interest.