Cleveland Clinic has established a $7.5 million green revolving fund (GRF) to finance energy-efficiency projects across its system, according to an article on the Health Facilities Management website.
The fund is being called the largest of its kind in the healthcare industry.
Green revolving funds are used to invest in energy-efficiency projects to reduce energy consumption.
As funds are spent, they are replenished by reinvesting savings from reduced energy consumption, in addition to any rebates received.
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