Inland Green Capital LLC, an environmental finance and investment company, closed and funded a commercial Property Assessed Clean Energy (“C-PACE”) transaction in Mokena, Illinois.
Inland Green Capital was selected to finance $250,000 in energy efficient improvements for the 20-year-old Highpoint One and Highpoint Two office towers. The transaction marked the first C-PACE financing and closing in Will County.
The funding, which closed in December 2021, will provide 100 percent financing for rooftop solar PV installations and roof replacements. The C-PACE project is expected to provide the two buildings with about $265,000 in savings over the 25-year financing term, while creating an average of 66 percent of their own overall energy and saving over 1,000 metric tons of CO2e from entering the atmosphere.
Inland Green Capital specializes in C-PACE financings for PACE project initiatives throughout the country.
PACE is an innovative financing tool that provides long-term, fixed-rate funding to private building owners for energy efficiency, renewable energy, water conservation, electric vehicle charging and resiliency projects to be installed in both existing and new commercial properties. To date, the PACE program has provided financing for over 2,500 commercial projects, totaling $2 billion in funds, and has created nearly 22,400 jobs nationwide.
