Rhode Island received 27 applications for an initial $25 million in Efficient Building Fund financing, according to state General Treasurer Seth Magaziner.
The revolving loan fund is for energy efficiency projects at schools and other public buildings.
"The strong demand for [its] first round of funding demonstrates that municipal leaders are serious about making their communities more energy efficient," Magaziner said Feb. 11. "Every dollar a municipality saves on energy costs can be put to work fixing roads, improving education or providing tax relief for hard-working Rhode Islanders."
Eligible projects include cost-effective energy efficiency measures and the installation of renewable infrastructure such as solar panels and wind turbines.
Last year, Magaziner worked with Gov. Gina Raimondo and General Assembly leaders to establish the Rhode Island Infrastructure Bank, when he championed the push to expand the old Clean Water Finance Agency to administer new programs for energy efficiency and renewable energy projects across Rhode Island.
Moody's Investors Service rates Rhode Island's general obligation bonds Aa2. Fitch Ratings and Standard & Poor's rate them AA.
