Latest news with #C-PACE
Yahoo
27-05-2025
- Business
- Yahoo
Lone Star PACE Selected as an Administrator of North Central Texas Council of Governments' Regional C-PACE Program
DALLAS, May 27, 2025 (GLOBE NEWSWIRE) -- North Central Texas Council of Governments (NCTCOG) has selected Lone Star PACE to serve as an administrator of its newly launched Commercial Property Assessed Clean Energy (C-PACE) program, marking a significant step toward expanding sustainable development across the rapidly growing North Texas region. C-PACE is an innovative financing mechanism that enables commercial property owners to fund energy efficiency, water conservation and renewable energy improvements through long-term, fixed-rate financing repaid via a voluntary property assessment. This approach allows property owners to undertake substantial building upgrades without upfront capital, often resulting in improved cash flow and increased property value. Lee McCormick, President of Lone Star PACE, said: 'We are honored to partner with NCTCOG in bringing a unified C-PACE program to North Texas. This regional approach simplifies access to sustainable financing, fostering economic development and resource conservation across multiple jurisdictions.' The introduction of a regionwide C-PACE program is poised to deliver significant sustainability benefits. By facilitating energy and water efficiency upgrades, the program supports the conservation of vital natural resources that are experiencing record-high demand due to North Texas's rapid population growth and influx of corporate relocations. For municipalities, the regional C-PACE program presents an opportunity to stimulate local economies without relying on taxpayer dollars. By enabling private investment in private buildings, cities and counties can drive job creation, enhance the local tax base and promote environmental stewardship. Susan Alvarez, Director of Environment & Development for NCTCOG, said: 'We look forward to expanding PACE resources in the NCTCOG region!' Property owners stand to benefit from reduced operating costs, improved building performance and access to investment-grade capital that can be used for a wide range of eligible improvements, including HVAC systems, lighting, insulation, solar panels and water conservation measures. Lone Star PACE brings extensive experience to its role as program administrator, having facilitated more than $330 million in C-PACE assessments for projects totaling $1.5 billion across Texas. The firm's collaborative approach involves working closely with local governments, property owners, capital providers and senior lenders to ensure successful project implementation. About Lone Star PACELone Star PACE serves as a program administrator for city and county Commercial Property Assessed Clean Energy (C-PACE) programs in Texas. LSP helps local governments, economic development corporations, chambers of commerce and trade associations promote economic development and resource conservation by facilitating C-PACE projects alongside property owners, C-PACE capital providers, contractors and other stakeholders. The company's goal is to promote sustainability as well as increased property values while positively impacting cash flow and utility savings. For more information, visit About North Central Texas Council of GovernmentsThe North Central Texas Council of Governments (NCTCOG) is a voluntary association of local governments established in 1966 to assist local governments in planning for common needs, cooperating for mutual benefit and coordinating for sound regional development. NCTCOG's purpose is to strengthen both the individual and collective power of local governments and to help them recognize regional opportunities, eliminate unnecessary duplication, and make joint decisions. NCTCOG serves a 16-county region of North Central Texas, which is centered in the two urban centers of Dallas and Fort Worth. For more information on the Environment and Development Department, visit Media Contacts: Olivia LueckemeyerDirector of Marketing & Media RelationsLone Star PACEolivia@ Susan AlvarezDirector of Environment & DevelopmentNorth Central Texas Council of Governments (NCTCOG)salvarez@
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Business Standard
29-04-2025
- Business
- Business Standard
Streamlined processes help companies speed up voluntary closures
The time taken to close down a company in accordance with the Companies Act has seen a dramatic reduction from an average of 499 days to only 60 days over the past three years. And the timeline to submit final reports under the Insolvency and Bankruptcy Code (IBC) has come down to 200 days, according to a working paper by the Prime Minister's Economic Advisory Council (PM-EAC). Until 2021-22, voluntary liquidation, under the Companies Act, would take an average of 499 days. The main obstacles included the time taken by the registrar of companies (RoC) to publish notices of closure in newspapers. Further, there were no fixed timelines for each step and there would be multiple demands for document resubmissions. The government resolved the key issue by publishing weekly or fortnightly notices which itself brought the timeline to 195 days. In the IBC process, the paper highlighted, the delays were due to the time taken to obtain no-objection certificates (NoCs) from various departments, including the Income-Tax (I-T) department and a lack of standard operating procedure. In November 2021, the Insolvency and Bankruptcy Board of India (IBBI) brought out a clarification stating there is no NoC requirement from the I-T department. In April 2022, the timelines were reduced and IBBI also brought in a compliance certificate for voluntary liquidations with a checklist for faster processing of cases. The working paper by PM-EAC highlighted that the nuts-and-bolts reforms are not systematically researched, documented, or taught, but are an important part of a policymaker's toolkit. Before the IBBI amendments, the average time for submission of final reports took 499 days for cases with creditors and 461 days for cases without creditors, the paper said. 'One thing that can be improved further is faster processing at the National Company Law Tribunal (NCLT)-level, so that the time taken for final closing of companies can be reduced after submission of the final report,' the working paper said. IBBI data showed that till December 2021, final reports for voluntary liquidations were submitted for 49 per cent cases and final orders for dissolution passes for only 25 per cent. But as of December 2024, of the 2,133 cases initiated for voluntary liquidation, final reports have been submitted for 75 per cent cases and 54 per cent cases have been closed by dissolution. The remaining 21 per cent are at the NCLT-level. The working paper highlighted that the setting up of the faceless Centralised Processing for Accelerated Corporate Exit (C-PACE) on May 1, 2023 fixed timelines for each step, identified nodal departments from each department and limited the number of resubmission requests by RoCs. The average time taken to strike off cases filed under this system reduced to only 90 days in 2023-24 and further to 60 days in 2024-25 until January. 'This is even better than what was envisaged when C-PACE was announced, which was getting the processing time to under six months,' the working paper said.
Associated Press
19-03-2025
- Business
- Associated Press
Aemetis Plans $130 Million Funding Under Newly Expanded Stanislaus County C-PACE Program
NEWMEDIAWIRE) - Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity renewable fuels, announced today that the Stanislaus County Board of Supervisors unanimously approved an extension of the County's Commercial Property Assessed Clean Energy (C-PACE) program at its March 11, 2025, meeting. Established by the approval of local governments, C-PACE programs can be used by private industry to finance energy efficiency upgrades and renewable energy facilities. 'We appreciate the Board and staff of Stanislaus County for their support of the C-PACE program in Stanislaus County that we expect to help Aemetis fund energy efficiency and renewable energy projects and refinance recently completed projects,' stated Eric McAfee, chairman and CEO of Aemetis. 'The C-PACE program provides longer 30 year terms and repayment through property tax bills so provides a new source of capital for growing our business.' Stanislaus County's recent action approves participation in the California Enterprise Development Authority, which allows financing of private projects through state municipal bonds that are free of state taxes to the lenders. In addition, payments through County property tax bills provide lenders enhanced protections and liquidity, helping raise funds for qualifying projects. Aemetis renewable energy and energy efficiency projects expected to be eligible for C-PACE financing include the Keyes plant mechanical vapor recompression system, the expansion of dairy renewable natural gas production, and the planned Riverbank Sustainable Aviation Fuel plant, as well as refinancing of the recently completed Keyes solar generation system and renewable natural gas upgrading hub. About Aemetis Headquartered in Cupertino, California, Aemetis is a renewable natural gas and renewable fuel company focused on the operation, acquisition, development and commercialization of innovative technologies that replace petroleum products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California's Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel fuel biorefinery in California, renewable hydrogen, and hydroelectric power to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit Safe Harbor Statement This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2025 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biogas, SAF and renewable diesel, and carbon sequestration facilities; our ability to promote, develop, finance, and construct facilities to produce biogas, renewable fuels, and biochemicals; and statements about future market prices and results of government actions. Words or phrases such as 'anticipates,' 'may,' 'will,' 'should,' 'believes,' 'estimates,' 'expects,' 'intends,' 'plans,' 'predicts,' 'projects,' 'showing signs,' 'targets,' 'view,' 'will likely result,' 'will continue' or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws. External Investor Relations Contact: Media Contact: Todd Waltz (408) 213-0940
Yahoo
03-03-2025
- Business
- Yahoo
Ayotte signs bill to speed up financing for energy-efficient developments
Gov. Kelly Ayotte signs Senate Bill 4, a bill to revamp the state's C-PACER program to allow for easier financing of energy-efficient housing developments on Thursday, Feb. 27, 2025. (Photo by Ethan DeWitt/New Hampshire Bulletin) In 2010, New Hampshire lawmakers passed a law intended to make it easier to finance and build apartment buildings with energy-efficiency systems. The mechanism — known as C-PACER — is widely popular; 40 states have passed similar programs, according to the advocacy group PaceNation. But 15 years after it passed in New Hampshire, no cities or towns here have implemented the financing tool, despite a high demand for housing. Observers say the New Hampshire program was poorly designed and unfeasible, putting too much logistical work onto towns. Now, the program is getting a revamp. On Thursday, Gov. Kelly Ayotte signed Senate Bill 4, which will replace the existing program starting in 2026 and put implementation into the hands of the New Hampshire Business Finance Authority. It was Ayotte's first bill signing since becoming governor, and one that some say could help speed up long-needed housing development. 'By making it easier for private sector partners to finance projects and removing the administrative burden on municipalities, we're taking an important step in the right direction to increase the supply of attainable housing for our growing workforce,' Ayotte said in a statement. C-PACER, which stands for 'commercial property assessed clean energy or resiliency' is meant to give developers and towns a way to work together to lower some of the costs to build new housing or upgrade existing housing. If a property owner is interested in adding energy efficiency improvements to new or existing property, they can use C-PACER to raise funding from private lenders. C-PACER allows those lenders to apply a special assessment lien onto the property, which then attaches to the property and must be paid off by any subsequent property owners. The idea: The energy efficiency upgrades will bring savings to the developer or property owner in the long run, and those expected savings ensure that they can pay off the loans they received through the C-PACER program. 'C-PACE effectively takes every energy component part of a building project, takes it out of the first mortgage and puts it in a second mortgage that has the equivalency of a, or the priority of a, municipal tax lien,' said New Hampshire developer Steve Duprey at a Jan. 9 Senate Commerce Committee hearing for Senate Bill 4, using an alternative acronym for C-PACER. That's helpful because it means the first mortgage is much easier to obtain, Duprey said. It means that payments for all of the energy pieces of a development can be spread out over a longer period of time — sometimes 30 to 40 years. And because the lien attaches to the property, lenders have a higher chance of recouping their investments. To Duprey, the law could be a significant tool to address New Hampshire's housing shortage. 'This will be one of the most effective things you can have, because it will reduce those down payments and allow developers — profit and not for profit — to generate more projects,' Duprey said. Both the 2010 law and the 2025 law require that towns opt in to the C-PACER program; they must adopt a resolution that explicitly authorizes this type of financing. But while well-intentioned, the 2010 law was unworkable for most towns, according to James Key-Wallace, executive director of the Business Finance Authority. 'Under the old law, C-PACE was asking all the municipalities in New Hampshire to do all the work, and each do it on their own,' Key-Wallace said in an interview Thursday. 'Each town had to develop and vet a list of qualified contractors (and) engineers, do all the billing for all the borrowers — the municipality had to chase down delinquent borrowers.' Effectively, Key-Wallace said, the towns had to act as lenders. 'Some small towns are just volunteers,' he said. 'It was an unreasonable ask.' This time around, Key-Wallace's agency is stepping in. The new law requires the Business Finance Authority to develop a C-PACER application process for developers to prove that the project really will bring about energy savings or environmental benefits, and that it 'provides a benefit to the public.' The law allows the BFA to contract with a private or governmental authority to carry out administration of the program. Should a city or town opt in to the program by passing the resolution, it may then designate one or more 'energy efficiency and clean energy districts,' where the C-PACER lending agreements are allowed. The municipality can make their entire town or city into a district if they desire. After that, if developers want to pursue C-PACER financing for an energy-efficiency project, a renewable energy project, or an environmental resiliency project, they can apply to the BFA. The developers must carry out engineering studies showing that the project is both feasible and effective at its goal. Then, with approval from the BFA, the municipality must sign off on a final financing agreement, at which point the special assessment lien is created. The municipality is responsible for collecting payments on the lien on behalf of the developers, but is allowed to outsource that task to a contractor. As Ayotte signed the bill, she was surrounded by major players who supported the bill, including the Business and Industry Association, the New Hampshire Municipal Association, and the New Hampshire Bankers Association. Kristy Merrill, president of the Bankers Association, said in an interview that the Bankers Association had pushed for guardrails for banks to be able to pull out of financing ahead of the final agreement. Those guardrails are included, she said. It is unclear how much take-up there will be among cities and towns for the C-PACER program. But Key-Wallace says he expects there to be pent-up demand now that the program has been retooled. Developers are interested, and they could lobby towns to follow suit. Key-Wallace says his department is ready to handle the administrative efforts. The BFA is tasked with helping businesses obtain a variety of loans, bonds, and financing mechanisms. In the coming weeks, the agency will produce a guidance document for municipalities and developers to learn more about how the new process works, Key-Wallace said, though towns can't move on it until next January. 'We expect a lot of interest,' he said.
Boston Globe
27-02-2025
- Business
- Boston Globe
N.H. Governor Ayotte signs her first bill into law in hope of encouraging housing
Advertisement It's an issue Ayotte has repeatedly Get N.H. Morning Report A weekday newsletter delivering the N.H. news you need to know right to your inbox. Enter Email Sign Up 'This is super exciting for me because I've never signed a bill,' Ayotte said Thursday ahead of the bill signing. While the bill won't take effect until Jan 1., 2026, its passage early in the legislative session indicates strong bipartisan agreement to tackle housing issues this year – a priority for leadership in both parties. 'This is a great opportunity for New Hampshire to have another tool in the toolbox when it comes to housing,' Ayotte said. The private lending program can be used to finance energy efficiency improvements to any commercial building, from manufacturing facilities to coffee shops and multi-family housing projects with at least five units, according to James Key-Wallace, executive director at the New Hampshire Business Finance Authority. The Business Finance Authority will now be charged with administering the program under the new law, which proponents hope will encourage local adoption. 'My understanding is that there are some developers that want to take advantage of this and move some projects forward,' said Kristy Merrill, president and CEO of the New Hampshire Bankers Association. Advertisement Although the state has allowed the C-PACE program for years, the onus of administering it was left to local communities that often lacked the staff and technical expertise to do so, Key-Wallace said, so no one actually used the program. 'What this does is it gets more financing into the project to help build more projects, and then keeps the cost of those projects down because they're more energy efficient,' he said in an interview after the bill signing. Key-Wallace said the program will provide loans for energy efficiency or energy generation, such as installing solar or reducing water usage. But, Key-Wallace said, no one should expect one program to transform New Hampshire's housing landscape on its own. 'This isn't a silver bullet that will solve all the problems,' Key-Wallace said. 'But this is a really important tool. I think you'll see more housing get built and get built quickly.' Local communities still need to opt in to make this kind of loan possible. Amanda Gokee can be reached at
