Funds Launch $200m in Energy Efficiency Investment
Joule Assets Inc. launched the Joule Energy Reduction Assets Fund (ERA Fund), a private equity fund that will invest worldwide in energy efficiency and demand response markets.
An energy reduction asset or ERA is an umbrella term for any unit of saved energy, which has become a tangible asset.
“In the simplest terms, we’ve created an investment fund that will expand financing for energy efficiency. On a grander scale, we believe that we have designed a fund that will aim to achieve the returns of top-performing private equity funds,” Joule Assets CEO, Mike Gordon said on the firm’s blog.
Clean energy consumer finance company Kilowatt Financial closed a $100 million debt facility from Citi to finance energy efficiency loans for homeowners.
Kilowatt will enable homeowners throughout the US to make energy efficient improvements to their homes through 10-12 year unsecured loans of up to $30,000. Homeowners can use the funds for a broad range of improvements, including HVAC equipment, water heaters, windows, roofing, insulation, lighting, and energy efficient appliances.
Securitization of the pool of loans into the capital markets is anticipated, which will help establish a secondary market and scale energy efficiency activity. Kilowatt and Citi expect to create term asset-backed securities from the loans, making more capital available for additional homeowners to upgrade their homes.
- What You Need to Know About Demand Charges
- Expert Q and A: Tips for Automating your Energy Data
- NAEM Trends Report: Planning for a Sustainable Future
- LED Myths and Facts
- Alarms Management: The Future is Now
- How "Fixed" is the Fixed Price Product?
- 24 Hour Fitness Trims Waste Costs Through an Effective Waste Recycling Program
- EHS Managers: The Evolution from Necessary Evil to Vital Leaders
- Dow Chemical Company Optimizes Facility Management Worldwide
- Optimizing Asset and Service Management in the Manufacturing Industry
- BUYING STRATEGIES IN A VOLATILE MARKET: What Businesses Need to Know about Retail Electricity Procurement
- Smart Building Technology: The Key to Comprehensive Building Performance
- What Energy Managers Need to know about Procuring Natural Gas: Guidance for 2014 Natural Gas Contracts
- Energy Optimization from the Boiler Room to the Board Room
- Your Roadmap for Energy Management: First Stop – Myths & Realities of Energy Purchasing