$321 million loan will help fund the RiverRenew Tunnel Project
ALEXANDRIA, VA-Alexandria Renew Enterprises (AlexRenew), the company that manages the city’s wastewater, recently received a federal loan as part of the EPA’s Water Infrastructure Finance and Innovation Act (WIFIA). The $321 million loan will help fund the RiverRenew Tunnel Project, which will keep sewage from entering the Potomac River, Hooffs Run, and Hunting Creek.
“Alexandria’s health and economic vitality depend on clean waterways,” said AlexRenew Board Chair John Hill. “We are greatly appreciative of our partnership with EPA to implement this historic program for our community and its future generations.”
AlexRenew cleans nearly 13 billion gallons of wastewater a year in the city and portions of Fairfax County.
When complete, a tunnel two miles long and 12 feet wide will handle 130 million gallons of sewage, diverting it from Alexandria’s treasured waterways. The tunnel will be connected to shafts and sewer infrastructure.
Construction is expected to begin later this year. A state law requires the completion of RiverRenew by July 1, 2025.
WIFIA is a federal loan program designed to accelerate investment in water infrastructure by providing long-term, low-cost assistance for significant water projects across the country. The loan AlexRenew received will fund about half of the $615 million capital cost for the RiverRenew project. The rest of the cost will be covered by state grants and loans, along with cash contributions.
“AlexRenew looks forward to continuing our collaborative partnership with our community members to solve environmental challenges that help grow our local economy through jobs, investments, and clean water,” said Karen Pallansch, the general manager of AlexRenew.