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TowerWise

TowerWise.ca. Energy Savings Purchase Agreement TEEAC Presentation. About TAF. Toronto City Council created the Toronto Atmospheric Fund (TAF) in 1991 $23 million endowment for grants & mandate- related investments Helping Toronto meet its

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TowerWise

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  1. TowerWise.ca Energy Savings Purchase Agreement TEEAC Presentation

  2. About TAF • Toronto City Council created the Toronto Atmospheric Fund (TAF) in 1991 • $23 million endowment for grants & mandate- related investments • Helping Toronto meet its GHG emission reduction targets

  3. Energy Costs ($) Savings kept by Corp Pre- Project Energy Costs Savings used to Pay TAF Post-Project Energy Costs Financing Term Time Energy Savings Purchase Agreement The ESPA is a new financing structure developed by TAF to help buildings finance energy efficiency upgrades. TAF will pre-purchase the projected energy savings from the project, providing the funds to purchase and install the equipment.

  4. ESPA: Roles and Responsibilities

  5. ESPA - Benefits • Key Benefits: • Designed to be cash flow positive from day one = pay for costs without an immediate payback • Payments pro-rated to verified energy savings • Unlike a loan, there is no lien on the property • Leaves owners own fund intact to pay for other projects • Commissioning and re-commissioning provided to ensure that new equipment is installed and operating correctly • Partnership with a not-for-profit municipal agency

  6. Questions? Tim Stoate – VP Impact Investing – 416-393-6368 tstoate@tafund.org Bryan Purcell Manager, Incubation and Social Innovation 416.393.6358 bpurcell@tafund.org www.toronto.ca/taf

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