LOS ANGELES – October 27, 2015 – The International Brotherhood of Electrical Workers Local 11 and the Los Angeles Chapter of the National Electrical Contractors Association announced today that a new $300 million Clean Energy Fund has been established to finance new energy solutions projects for their members and contractors by ReNewAll through its exclusive finance partner, Tritec Americas. ReNewAll is a clean energy financial solutions company and a project developer for IBEW Local 11 and LA/NECA.
The fund will finance energy efficiency, renewable energy and energy storage projects for commercial buildings, shopping centers, industrial facilities, multi-family housing, churches and lodging. Financing is available for projects in Greater Los Angeles and across the United States.
“This fund is a key component to our Net Zero Plus initiative and we are pleased with the growth it provides,” said James Willson, Executive Director of LA/NECA, “We are offering a full spectrum of energy solutions from energy efficiency upgrades to building or retrofitting net zero and high performance buildings. The Net Zero Plus Electrical Training Institute provides a highly-trained workforce of energy specialists, testing and demonstrating emerging energy technologies in our living laboratory, and now another avenue to finance these projects through ReNewAll’s programs.”
RenewAll specializes in assisting developers and building owners to finance projects, which are “cash-flow positive” from day one. Since July 1, 2015, ReNewAll has originated more than $35 million in project term sheets for NECA contractors in Southern California. A recent ReNewAll project that was completed with NECA and IBEW members is the retrofit of the Hilton Los Angeles/Universal City. This $7 million energy efficiency retrofit is the largest, most comprehensive PACE project in the U.S. It has led to annual energy, material and maintenance savings of $800,000 for the hotel.
“We will be offering multiple PACE project financing options as well as power purchase agreements (PPAs) and leases for NECA and IBEW members,” explained Joe Berney, President of ReNewAll. “ReNewAll’s various financing mechanisms allow contractors to deliver solutions to property owners for little to no out of pocket investment.”
Each year, IBEW Local 11 and LA/NECA train more than 4,000 men and women for careers in the electrical industry at the Net Zero Plus Electrical Training Institute in greater Los Angeles. Those trained at this facility are energy specialists prepared to design, develop, and manage solutions for today’s energy management challenges. The Net Zero Plus Electrical Training Institute is a 142,000 square foot national center of excellence in energy technology training, testing, and demonstration. It is currently undergoing a net zero retrofit, which will be completed in Q1 2016.
“ReNewAll is assisting us to develop large project pipelines and the growth of green jobs in Los Angeles,” said Dick Reed, President IBEW Local 11, “They are securing millions of dollars of work for our members and the contractors that employ them to provide smart energy solutions to our customers.”
For more information about this fund, please contact Joe Berney at (626) 869-8590 or firstname.lastname@example.org. ReNewAll will provide same-day financing quotes for commercial projects.
ReNewAll develops clean energy projects for building owners, schools, municipalities, contractors and the trades. In partnership with TRITEC Americas, ReNewAll provides PACE, PPA and Lease financing to businesses, non-profits, municipalities and NGOs. For NECA and IBEW members, their project development program includes identifying project leads, developing scopes of work, securing signed contracts and providing financing. For More Information, Please visit www.renewall.us
About TRITEC Americas:
TRITEC Americas, based in San Diego, California is the North American affiliate of the TRITEC Group, a global solar services company headquartered in Basel, Switzerland with over 30 years of excellence in the solar industry. TRITEC Americas is a leading provider of PACE program and solar PV project financing and development services for the commercial and industrial (C&I) solar market. Through its PowerNow® Commercial Solar Finance Program, TRITEC Americas develops, finances, owns and operates photovoltaic solar systems, which generate clean, predictable, affordable, renewable energy for its customers.
About The International Brotherhood of Electrical Workers Local 11 and Los Angeles Chapter of the National Association of Electrical Contractors Partnership:
Together, IBEW Local 11, which represents more than 13,000 workers, and LA/NECA, which represents more than 400 electrical contractors in Los Angeles and Ventura Counties, is the second largest electrical labor union partnership of workers and contractors in the United States.
IBEW Local 11 and LA/NECA forged this partnership in developing the NZP ETI to provide world leading electrical training and have nationally recognized programs of excellence in training. Through this partnership and in cooperation with utilities and private companies, IBEW Local 11 and LA/NECAare pioneering the Net Zero Plus program to transform commercial markets by employing the newest electrical technologies and training the most skilled workforce in the United States.
For more information about IBEW Local 11, please visit: http://www.ibew11.org
For more information about LA/NECA, please visit: https://www.laneca.org
For more information about the NZP ETI, please visit: http://www.nzp-eti.com