Department of Economic Development awards $1.26 million energy loan to hospital in West Plains
Amy Susan, (573) 522-5058
JEFFERSON CITY— The Missouri Department of Economic Development’s Division of Energy awarded a $1.26 million energy-efficiency loan to Ozarks Medical Center (OMC) to allow the hospital to replace a hot water boiler, chiller, and steam boiler.
OMC will also use the loan to purchase a hot water heat exchanger and make lighting upgrades to improve efficiency. These improvements are expected to result in annual energy savings of approximately $155,300. The loan will be repaid with money saved on energy costs as a result of implementing these upgrades and improvements.
“The positive impacts of this project, as well as others funded through our Energy Loan Program, extend beyond the walls of the hospital,” said Mike Downing, Acting Director of the Missouri Department of Economic Development. “By generating local construction jobs and funding the purchase of new equipment, these projects improve the state and local economy. Smart energy choices result in greater efficiency, and allow the state to retain more of its energy dollars to be used for economic growth and job creation.”
OMC is a 114-bed, not-for-profit medical referral center serving an 11-county area in south central Missouri.
Since the Energy Loan Program’s inception in 1989, the Division of Energy has awarded more than 550 loans, which has resulted in nearly $84 million in completed energy-efficiency projects and more than $158 million in estimated cumulative energy savings.
Through the department’s Division of Energy, low-interest loans are provided to public schools, local governments, colleges, universities, and public and private not-for-profit hospitals to help reduce energy costs. Loan financing may be used for various energy-saving investments, including upgrades in insulation, lighting systems, heating and cooling systems, windows and other items that affect energy use.
For more information on the Energy Loan Program, please visit http://ded.mo.gov/division-of-energy/financial/energy-loan-program or contact the Missouri Department of Economic Development’s Division of Energy at 573-751-2254 or toll-free at 855-522-2796.