What is Virginia PACE?
The Virginia PACE Authority (VPA) is a nonprofit entity dedicated to administering Virginia's statewide C-PACE program. This program offers specialized financing solutions for commercial properties undertaking projects focused on energy efficiency, renewable energy generation, and water conservation. VPA actively partners with commercial businesses, property owners, contractors, and local governments to streamline the financing process for both new constructions and retrofits of existing buildings. By providing a uniform and cost-effective platform, VPA aims to stimulate economic development and contribute to the Commonwealth's clean energy objectives. Abacus Property Solutions is noted as a partner, offering design and management services for C-PACE initiatives.
How much funding has Virginia PACE raised?
Virginia PACE has raised a total of $10K across 1 funding round:
Debt
$10K
Debt (2021): $10K with participation from PPP
Key Investors in Virginia PACE
PPP
Public-Private Partnership
What's next for Virginia PACE?
With its Series A/B growth stage financing, Virginia PACE Authority is poised to expand its reach and impact within the Commonwealth. The recent capital injection is expected to fuel further development of its C-PACE program, potentially enabling VPA to support a greater volume of sustainable infrastructure projects. This strategic investment will likely enhance VPA's capacity to collaborate with a wider array of stakeholders, driving economic growth and furthering Virginia's clean energy goals. Future initiatives may involve broadening the scope of eligible projects or enhancing the program's accessibility to more businesses and developers.
See full Virginia PACE company page
