Anderson County School District 3 recently received a $5.2 million grant from the South Carolina Jobs-Economic Development Authority (JEDA) to implement energy conservation and upgrade equipment in all of its schools.
All five schools in the district: Flat Rock Elementary, Iva Elementary, Starr Elementary, Starr-Iva Middle and Crescent High schools will benefit from the improvements.
JEDA representative Claudia Miller recently told Palmetto Business Daily that while JEDA served as the conduit issuer for this project, Abundant Power serves as the energy services company providing financial and technology solutions for the SC SAVES program. SC SAVES provides low-cost financing to governmental, institutional, commercial and residential properties for qualified energy conservation projects.
The grant will “help replace or improve water heaters, power management, water conservation, lighting, heating, ventilation and air-conditioning equipment,” Greg Montgomery, managing director of Clean Source Capital, an affiliate of Abundant Power, recently told Palmetto Business Daily. “Older HVAC systems will also be upgraded to higher efficient equipment. Buildings will upgrade to higher efficiency LED lighting inside and out as well. We’re looking forward to our relationship with Anderson District 3 as the school district saves money and energy with the improvements it is undertaking.”
“We’re pleased to again work with the SC Saves Program on such forward-looking ventures," Harry A. Huntley, director of JEDA, said in a previous statement. "This is a great example of what innovative, disciplined financing can accomplish in South Carolina.”
Huntly anticipates that the upgrades will be completed in January.
JEDA promotes the business and economic welfare of South Carolina by assisting in the financing of public and private projects throughout the state. It serves as a statewide conduit issuer of special obligation revenue bonds, and acts on behalf of the borrower to access financial markets and capital.
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