Pepco Energy Services, Inc., a subsidiary of Pepco Holdings, Inc. (NYSE: POM) and a leader in energy savings performance contracting, has partnered with the Delaware Technical Community College to implement a comprehensive energy savings contract project that will positively impact 19 buildings.
Pepco Energy Services is installing more than $7 million in energy conservation measures on the college's Wilmington, Stanton, Terry and Owens campuses, retrofitting over 1 million square feet of building space. Such measures include the conversion of constant volume air-handling units to variable air volume units to provide superior space conditioning and improved occupant comfort for the Owens campus; the installation of an irrigation system for the Stanton campus sports fields allowing students to practice and compete on quality playing surfaces and the installation of new chillers to replace the multiple, problematic direct expansion units for the Terry campus.
In a short period of time, Pepco Energy Services has proven to be a valued member of the College's facilities management team that will vastly reduce the College's carbon footprint over the next fifteen years. In addition to constructing the necessary capital improvements to achieve the savings outlined in the College's Guaranteed Energy Savings Agreement, Pepco Energy Services will also be providing instructional support to the College's new Associate Degree Program in Energy Management.
"The entire effort is not only a win-win effort for Delaware's taxpayers, environment and the College, but also for current and future students that will be part of the workforce employed in sustainable energy fields within the State," said Jerry McNesby, Vice President for Finance at the College.
The majority of the project is financed by an energy efficiency tax-exempt bond issued by the Delaware Sustainable Energy Utility (SEU). Over the 15-year contract term, the college will save more than $9 million in energy costs. Additionally, the project will reduce annual energy consumption by approximately 21 percent for the Wilmington and Stanton campuses, 16 percent for the Terry campus, and 8 percent for the Owens campus while decreasing annual carbon dioxide emissions by more than 2,700 metric tons across all four campuses.
"Pepco Energy Services is pleased to enter this partnership with Delaware Technical Community College," said John Huffman, President and Chief Executive Officer of Pepco Energy Services. "This project demonstrates the college's dedication to reducing its carbon footprint and enhancing the energy efficiency of its environment for the students and staff."
Construction began in September 2011 and is due to be complete by August 2012.
Pepco Energy Services has also recently contracted a number of similar projects for such customers as the City of Greensboro, Maryland Port Administration, Prince William County Schools, and Virginia Polytechnic Institute and State University. In the last decade alone, Pepco Energy Services has provided its clients more than $210 million in verified energy cost savings and continues to help new customers to reduce their energy usage.
For information on how Pepco Energy Services can provide similar services for your organization, please contact Patrick Sweeney at psweeney@pepcoenergy.com or (703) 253-1740, or visit the Pepco Energy Web site for a complete list of services.
About Pepco Energy Services, Inc.
Pepco Energy Services, Inc. (Pepco Energy), a wholly owned subsidiary of Pepco Holdings, Inc. (NYSE: POM), provides commercial, institutional, government and industrial customers with competitive energy efficiency services, including renewable energy and combined heat and power projects/plants.
Pepco Energy Services is not the same company as Potomac Electric Power Company (Pepco), the regulated utility; the prices and services of Pepco Energy are not set by the Public Service Commission; and you are not required to buy energy or other products and services from Pepco Energy Services in order to receive the same quality service from Pepco.
Information contained in this news release may include forward-looking statements, which should be considered in light of the risks inherent in the business of Pepco Holdings, Inc. and its subsidiaries, as discussed in public documents filed with the Securities and Exchange Commission.
Contacts:
Pepco Energy Services, Inc.
Scott Brown, 703-253-1836
