Sunnova Raises nearly $1 Billion Based on Strength of Business Approach
HOUSTON, June 13, 2017 — Sunnova Energy Corporation, a leading residential solar service provider in the U.S., announced today it has raised aggregate capital of nearly $1 billion in the past three months after closing a $140 million round of debt funding with CIT Group and other investors this past week. The amount raised in such a short amount of time, all while increasing customers' and investors' faith in the business, is further proof that Sunnova's innovative approach is driving solar i...
Commerce Awards $1.7 Million EDA Grant for Virgin Islands Transportation Hub
The U.S. Commerce Department's Economic Development Administration awarded a $1.7 million grant to support a Virgin Islands seaplane facility that it said is a major inter-island transportation hub. The money will help the Port Authority of Charlotte Amalie in St. Thomas make shoreline stabilization improvements to the Christiansted Water Gut Seaplane Facility. The EDA said that according to grantee estimates, the project is expected to retain 42 jobs and generate $1.9 million in private i...
Nearly $79M in Local Project Grants Go Out to New Jersey Municipalities
New Jersey Gov. Chris Christie said the state will distribute $78.75 million in grants to localities for transportation projects under its Municipal Aid program. "Most of the Municipal Aid grants will support road resurfacing or preservation projects, and will help towns make much needed repairs," said NJDOT Commissioner Richard Hammer. "These grants will help keep local roads in a state of good repair without burdening local property taxes." The announcement said competitive awards will g...
U.S. Transportation Secretary Elaine L. Chao Announces $527.8 Million in Infrastructure Grants to Airports
WASHINGTON – U.S. Department of Transportation Secretary Elaine L. Chao today announced the Federal Aviation Administration will award $527.8 million in airport infrastructure grants to 584 airports across the United States as part of the FAA’s Airport Improvement Program (AIP). “The Airport Improvement Program helps to maintain our aviation infrastructure and supports safety, capacity, security and environmental improvements,” said Secretary Chao. The airport grant program funds various t...
U.S. Department of Transportation Announces $197 Million in Grants for Positive Train Control Implementation
WASHINGTON – The U.S. Department of Transportation’s Federal Railroad Administration (FRA) and Federal Transit Administration (FTA) today announced the grant recipients who will receive $197 million in competitive grant funding to help commuter and intercity passenger railroads meet the December 31, 2018 deadline to implement Positive Train Control (PTC) systems to improve safety. The $197 million in PTC grant funding, authorized under the Fixing America’s Surface Transportation (FAST) Act, w...
Trump Budget Offers Information on Infrastructure Plan
President Trump used documents released with his 2018 budget proposal to provide more information on his plans for major infrastructure investment, along with a request to spend an initial $5 billion for it in the fiscal year that starts Oct. 1. In all, Trump as expected proposed allocating $200 billion in additional direct federal infrastructure funding over 10 years, with a goal of leveraging non-federal dollars to produce $1 trillion in new project investment over a decade. Although the...
Survey Reveals Infrastructure Increase by 4.9%
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Barrasso Emphasizes Use of Existing Formula System to Allocate New Infrastructure Funds
The chairman of the Senate Environment and Public Works Committee told U.S. Transportation Secretary Elaine Chao he wants to see new infrastructure funding distributed through the established formula system in which the Highway Trust Fund allocates money to states and transit agencies. Sen. John Barrasso, R-Wyo., first highlighted that issue in his opening statement at a May 17 hearing where Chao was testifying, and later pressed Chao on it. His emphasis on using the formula funding approa...
Siemens Highlights Alternative Financial Solutions to Support Infrastructure Modernization Initiatives
For cities, implementing intelligent technology and infrastructure upgrades comes down to a question of affordability. But increasing access to private capital investment via public-private partnerships (P3s) and alternative financing models such as performance contracting have allowed cities to benefit from sharing project risks and fill gaps in funding in order to meet local public service obligations. As a sponsor of 2017 Infrastructure Week, Siemens is highlighting the successful applicat...
Pennsylvania Governor Announces $33 Million in Traffic Signal Improvement Funding
Harrisburg, PA – Governor Tom Wolf announced today that 94 municipalities will receive $33 million to support the costs of upgrading traffic signals under the Pennsylvania Department of Transportation’s "Green Light-Go" program. "This is the third round of funding disbursed to support increased safety and mobility across more Pennsylvania towns," Governor Wolf said. "The Green Light-Go program addresses a fundamental trigger for congestion, deficient traffic signals, and the results will mean...
Video: New Roundabout Under Construction at McIver and Old Florence Roads in Darlington County
Promenade at The Point
June Issue 2026
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