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District energy: green loan supports Vicinity’s low carbon commitment

By District Energy posted 10-06-2022 10:15

  

BNP Paribas

Summary

With residential and commercial buildings contributing to 12.5% of total US greenhouse gas emissions[1], district energy will significantly decarbonise cities, neighborhoods, and college campuses across America. District energy systems provide a more efficient and sustainable way to provide heating and cooling services to buildings, campuses, and customer populations. Through these systems, a central facility produces thermal energy distributed via an underground piping network to deliver steam, hot water, or chilled water to buildings. This approach optimises energy efficiency and local resources while significantly reducing pollution.

Vicinity Energy, which holds the most extensive portfolio of district energy systems in the US, is further investing in the future of this technology to sustainably power local areas across the country. The firm recently amended its credit facilities and incorporated Green Loan Principles to the US$80 million CAPEX tranche. It marked the first green loan transaction for a district energy company in the US. BNP Paribas acted as Coordinating Lead Arranger, Bookrunner, and green loan Coordinator on the financing package.

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