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SFPUC approves $699 million WIFIA loan to fund biosolids digester project
Summary
The San Francisco Public Utilities Commission approved a $699 million WIFIA loan to finance up to 49% of a new biosolids digester project, citing lower interest costs and longer repayment terms to reduce rate pressure for customers.
The San Francisco Public Utilities Commission on July 24 authorized the general manager to execute a Water Infrastructure Finance and Innovation Act (WIFIA) loan agreement for up to $699,242,023 to help finance the wastewater enterprise’s biosolids digester project.
Deputy Chief Financial Officer Charles Pearl told the commission the loan would fund about $625 million of project costs, with additional allowable financing costs included, and estimated…
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