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What is GEO-FUNDING TM ?
With GEO-FUNDINGTM there will be no upfront cost and an innovative way for our Client’s to serve their internal commitments & finance clean energy projects. For projects where customers choose this option, the financing company will provide 100% fund to build, own and operate the geothermal field under “Energy Supply Agreement (ESA) which has the duration of 40 years” to deliver heating & cooling. At Commercial operation stage the ESA will be between Client and Financing Company.
Under ESA the client / Customer / Purchasers / Condo Corporation OR Tenant will agree to pay monthly fee which increases by 2.5% per annum. Optional items will impact the monthly fee. The Geothermal ESA fee is collected monthly, one fee per building or project. After 40 years terms ends the system will be sell to client at $1 cost. The ESA will be registered to the title of the property.
The Key features of long term Energy Supply Agreements (ESA):
- Provide capital funds for design and build of geothermal energy field and operating equipment.
- Long term Geothermal Energy Supply Agreement (ESA)– legally executable agreement with renewable terms.
- Fixed monthly payments increasing annually at set 2.5% inflation rate (Extremely lower % increase than Utility).
- Operations and maintenance of the geothermal system
- All repair and replacement of geothermal operating equipment.
GEO-FUNDINGTM is available for the following:
BASE CASE: Geothermal Field Only
100% funding is to use to build geothermal asset to deliver heating and cooling to the building under Geothermal Energy Supply Agreement (ESA). Geothermal Assets includes outdoor Geothermal Field (Horizontal/Vertical), supply and install horizontal headers along with common geothermal main supply and return manifolds located in mechanical room. The outdoor vertical geothermal field can be installed under the building foot print.
Entire installation of geothermal items described above shall be by Funding Company’s Contractor’s.
Who Owns the Geothermal Assets:
At Commercial operation stage & under ESA the Financing Company owns the geothermal system, comprised of the geothermal loops installed in the ground, the tie-ins into the building, the maintenance room and all geothermal equipment contained in it including pumps, controls, gauges, monitoring equipment, water inflow and outflow pipes to the wall of the maintenance room where geothermal heated and cooled water is delivered to the building interior.
Reserve Funds:
Financing Company sets aside a reserve fund from the Energy fee collected and repairs or replaces all geothermal equipment as required.
O & M Support:
The geothermal loops in the ground carry a manufacturer’s warranty of 55 years and have a useful life of 100 years. The Financing Company sublet the maintenance and monitoring work to third party where the third party performs all service and maintenance and continuously monitors the performance of the base system.
OPTIONS: (A) Equipment Supply at Customer Discretion:
At Commercial operation stage & under ESA the Financing Company owns the entire equipment which includes:
• Integrated Piping System (IPS) fan coils for suites/offices/commercial retails with thermostat.
• PEX/CPVC risers,
• Central geothermal room equipment including geothermal circulating pumps with VFD’s, Domestic hot water Heat Exchanger, Domestic Cold water Heat Exchanger, Water to Water heat pumps, circulating pumps with VFD’s between Water to Water heat pumps & Heat Exchangers, Expansion tanks, Hot Water Circulating Pumps, Cold Water Circulating Pumps, Domestic Hot water Heaters and Storage tanks.
(B) Equipment Installation with associated piping at Customer Discretion:
At Commercial operation stage & under ESA the Financing Company owns the entire equipment which includes:
• Install item as indicated in (A) at Customer discretion. We can work with Client contractor.
• Replace equipment as indicated in (A) after 20 years of satisfactory operation.
(C) Support O & M at Customer Discretion:
• Mechanical equipment, which carries standard manufacturer warranties, is accessible for easy maintenance and is sheltered inside the building ensuring extended life expectancy.
• The Financing Company sublet the maintenance and monitoring work to third party where the third party performs all service and maintenance and continuously monitors the performance of the system.
• The Geothermal ESA gives third party personnel unimpeded access to any part of the geothermal system 24 hours a day, 365 days a year for the term of the agreement.