Raising capital for Delaware energy efficiency initiative.

By Citi July 25, 2011 02:26 PM

The Bond Buyer covered Citi's role as sole underwriter in the sale of Sustainable Energy Utility Inc.'s energy efficiency revenue bonds, whose proceeds will be used to help Delaware's state and local government agencies conserve energy. In the article (subscription required), Trenton Allen, a director in Citi Municipal Securities, said the deal would allow the agencies to take their less efficient buildings, make improvements, and then use the savings to cover the cost of the investment. "Providing this type of vehicle allows you economies of scale," he said. "That can be beneficial not to just Delaware but as a model to cities and states around the country as they look into these kinds of investments."