Any state agency, as defined in section 1-79, may participate in a building decarbonization project for a building or facility that is owned or leased by the state, provided such state agency occupies such building or facility. A state agency that seeks to participate in a building decarbonization project shall submit a request to the Department of Energy and Environmental Protection for review of the project. The Department of Energy and Environmental Protection, in consultation with the Department of Administrative Services, may review and recommend approval of the project. Upon receipt of the department’s recommended approval, a state agency shall submit a request to participate in the building decarbonization project, with supporting documentation, including the recommended approval of the Department of Energy and Environmental Protection, to the Office of Policy and Management for review and final approval. The Office of Policy and Management may only approve a project if such project can be sustained by the operating budget for the relevant state agency, based on the operating budget for the fiscal year in which the state agency files such request. For purposes of this section, “building decarbonization project” means a project that implements energy efficiency measures, reduces energy usage or decarbonizes the energy use of a building or facility that is offered by an electric distribution company or gas company through the Conservation and Load Management Plan approved pursuant to section 16-245m, or successor programs, or offered by the Connecticut Green Bank, including participation in associated financing mechanisms offered by such companies or the Connecticut Green Bank.