The company said it will spend the money to reduce energy consumption by 11 per cent and greenhouse gas emissions by 5,600 tonnes per year.
SOFIAC, the investor, operates on a unique turnkey financing model, eliminating upfront investment requirements for its clients.
The fund finances the necessary upgrades and then recoups its investment by taking an 85 per cent share of the resulting energy savings over a 15-year period, targeting a seven percent return.
