MIAMI, Oct. 8, 2015 /PRNewswire/ -- Ygrene Energy
Fund Inc., a national provider of clean energy and hurricane
protection financing, and BrandsMart USA, one of the largest appliance retailers in
the country, today announced the completion of the largest
commercial PACE (Property Assessed
Clean Energy) project in the nation's Southeast. The project site,
BrandsMart's Miami Gardens store,
was funded with $3.1M in PACE financing via Ygrene's Clean Energy Green
Corridor program. This is the second project in Florida for the partners and is expected to
generate $310,000 in annual energy,
operations and maintenance savings for BrandsMart.
Environmental concerns around extreme weather events have
reached an all-time high in Florida as the state grapples to become more
resilient in the face of rising sea levels and rising energy costs.
Miami in particular has become
ground zero for these conversations, as elected officials seek to
upgrade the city's infrastructure in anticipation of climate and
resource risks. BrandsMart USA,
one of the leading Consumer Electronics and Appliance Retailers in
the Southeast, has been an active proponent of energy efficiency
upgrades and of PACE, the nation's
most accessible capital source for clean energy upgrades.
"PACE's credibility and proven
track record make it the clear choice to upgrade our stores from
both a business and an environmental perspective," said Lary
Sinewitz, Executive Vice President, BrandsMart USA. "This is our second successful
multi-million dollar project in Florida using the Clean Energy Green Corridor
program administered by Ygrene as we work together to make ours a
more resilient region in the face of weather threats and volatile
resources."
On the heels of a successful 2014 $2.1M project at its Palmetto Bay Store, which is
expected to result in $195,000 in
energy, operations and maintenance savings this year, BrandsMart
identified its Miami Gardens store
as next in line to be upgraded. New additions to the Miami Gardens store include LED lighting, a
new energy-efficient roof and replacement of all HVAC equipment.
Partners ABM Industries and Tremco were instrumental in both the
Palmetto Bay and Miami Gardens
projects.
In partnership with local municipalities like Miami-Dade, Ygrene's Clean Energy Green
Corridor program provides 100% financing with zero out of pocket
costs for residential, commercial and agricultural property owners
to deploy clean energy and hurricane protection upgrades to their
buildings. Currently approved in over 150 cities and counties
across Florida, California and Georgia, Ygrene is the largest commercial
PACE originator in the U.S.
"Florida's robust appetite for
PACE continues to grow as climate
change threatens the state's resilience," said Ygrene President
& CEO, Stacey Lawson. "Last
year's Palmetto Bay project was the largest in the state and in
short order, we've eclipsed that, underscoring our commitment to
Florida and to pioneers like
BrandsMart that are forging a safer, more adaptive future for the
Southeast."
About Ygrene Energy Fund
Ygrene Energy Fund is a
leading residential and commercial provider of clean energy
financing throughout the United
States. The award winning, privately funded
YgreneWorksTM program provides immediately accessible
financing with no upfront costs for energy efficiency, renewable
energy, water conservation and, in certain areas, hurricane
protection, electric vehicle charging stations and seismic
upgrades. Ygrene is committed to making it easy for families to
invest in their future and a healthier environment. Over the next
five years, YgreneWorks is projected to create tens of thousands of
local jobs and invest hundreds of millions into local economies.
Learn more at www.ygreneworks.com.
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SOURCE Ygrene