Agreement would use virtual ‘Negawatts’ in demand-side energy management

The preliminary funding plan calls for CIT Structured Finance to arrange up to $100 million financing for the company’s first virtual “Negawatt” power system – a revolutionary initiative targeted to the California energy marketplace. CIT has also agreed to finance sales of Electric City’s technology through traditional equipment leasing programs and its new Shared Savings Program.

LANSING, Mich., Dec. 5, 2000 (PRNewswire) — Michigan Department of Consumer & Industry Services (CIS) Director Kathleen Wilbur announced today that CIS’ Energy Office has entered into a grant agreement in the amount of $120,000 with the Michigan Independent Power Producers Association (MIPPA) to implement the “Michigan Green Power Cooperative Project” over a two-year time period.

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