$10.75 million raised for air-conditioning project
Let’s see how the City, State & environmentalists react to a private company’s efforts to reduce energy and water consumption.
By: Sean Hao
A company seeking to air-condition Downtown buildings with seawater has raised $10.75 million in private financing for the project.
Honolulu Seawater Air Conditioning LLC expects to start construction on the $152.5 million system in January 2009. Remaining financing for the project, which could be completed 14 months after groundbreaking, is expected to come from $100 million in state tax-exempt revenue bonds and conventional borrowing.
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