Investors to spend millions 'greening' commercial buildings in Sacramento, Miami

Sacramento BeeSeptember 20, 2011 

Sacramento is one of two cities to participate in a massive program to retrofit commercial buildings to improve energy efficiency, through a private nonprofit consortium led by British business tycoon Richard Branson.

The program, launched by Branson's Carbon War Room, announced it would invest $650 million to retrofit buildings in Sacramento and Miami. Most of the money is earmarked for Miami, with about $100 million destined for Sacramento.

Branson, in a statement released by the War Room, called the effort "the missing piece in the jigsaw puzzle for cities looking to implement green plans."

The consortium includes financial giant Barclays Capital and Lockheed Martin. A Santa Rosa company called Ygrene Energy Fund is also involved.

Sacramento Mayor Kevin Johnson confirmed the arrangement in a Twitter posting, saying the city will "get millions in private funds to reduce energy use."

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