Rhode Island closes on $77M Green Bond for water infrastructure
The Rhode Island Infrastructure Bank has closed on a $77,260,000 Green Bond to support clean water projects and drinking water projects across the state.
“Thanks to the Bipartisan Infrastructure Law, Rhode Island’s Clean and Drinking Water State Revolving Funds are receiving nearly $400 million in funding for projects across the state,” said Jeffrey Diehl, CEO of Rhode Island Infrastructure Bank. “We are using this bond sale to speed up the flow of financing so our cities, towns, and quasi-public entities can get to work on major infrastructure projects. Projects like upgrading wastewater treatment plants, building new pump stations, installing new sewer mains, and repairing and replacing drinking water mains, transmission lines, and service lines. These projects are essential to our communities, residents, and businesses who rely on often unseen but absolutely critical drinking water, sewer, and stormwater infrastructure.”
The projects receiving the Green Bond proceeds are as follows:
- Narragansett Bay Commission – $47.6 million
Combined Sewer Overflow Phase III, Fields Point Wastewater Treatment Facility upgrades, and other upgrade and replacement projects. - East Greenwich – $4.9 million
Wastewater treatment plant facility upgrades. - Woonsocket – $2.3 million
Replacement of Manville Road pump station and repairs at Woonsocket Regional Wastewater Treatment Facility. - Middletown – $1 million
Replacement of Paradise Avenue Pump Station Force Main. - Warwick – $20 million
Rehabilitation of Cedar Swamp Force Main and completion of sewer installation to bring sewer availability to the city’s Bayside neighborhood. - East Providence – $2.5 million
Water pollution abatement and resiliency improvements to Booth Avenue and Bold Point Park areas. - Providence / Providence Water Supply Board – $5.5 million
Water distribution improvements including cleaning, relining, repair and replacement of water mains, transmission lines, service lines, and valves.