The Campus Energy Efficiency Fund is an innovative investment opportunity that allows the Treasury to assist colleges and universities in their efforts to keep costs down and become more sustainable while generating a market based rate of return for Commonwealth funds.
CEEF was created collaboratively by the Treasury and Blue Hill Partners, a Philadelphia based investment firm focusing on green investments. The Treasury was also assisted in this effort by the Pennsylvania Department of Environmental Protection, which provided a grant to develop CEEF and to defray the cost of engineering work on participating campuses.
“The Pennsylvania Treasury Department continues to be a true pioneer for smart models of energy efficiency financing that deliver solid financial returns to investors while creating jobs, reducing residents’ energy bills and boosting the Pennsylvania economy. The Campus Energy Efficiency Fund is an investment vehicle to watch and institutional investors would be wise to consider expanding the program beyond Pennsylvania’s borders." - Mindy Lubber, president of Ceres, a national coalition of investors and public interest organizations focused on sustainability
The Treasury will invest as much as $10 million of its capital, which is expected to leverage total investments of up to $45 million at 10-12 private colleges and universities around the Commonwealth. Projects will include technologies such as efficient lighting, advanced heating and cooling systems, building controls and automation, and on-site generation.
CEEF is exactly the kind of innovative partnership between public and private institutions that the Pennsylvania Treasury seeks out in order to work collaboratively to solve the problems facing the Commonwealth of Pennsylvania.