ARLINGTON, Va., Feb. 9 /PRNewswire-FirstCall/ -- Pepco Energy Services, a subsidiary of Pepco Holdings, Inc. and a leader in energy savings performance contracting, announced today that it has been chosen to implement a $6.1 million comprehensive energy efficiency contract with the City of Greensboro, North Carolina.
The 13-year contract calls for Pepco Energy Services to provide energy conservation measures to 46 City buildings. As part of the contract, Pepco Energy Services will install energy efficient lighting, replace old chillers, update building automation systems, commission and rebalance heating and air-conditioning systems, and install water saving fixtures in many of these facilities. Pepco Energy Services will also significantly enhance the City's position on renewable energy by providing solar energy for space heating and hot water systems at the Melvin Municipal Office Building and at five city fire stations. The project will also include an Energy Awareness program to train building occupants on efficient practices and to encourage energy savings practices.
"A lot of this equipment has needed to be replaced for years, but we haven't had the money to do it," City Manager Mitchell Johnson said. "Now, through our contract with Pepco Energy Services, the City will have over $6 million in new equipment and infrastructure and reduce the City's energy usage by 28 percent."
"This project will save the City more than $500,000 annually and reduce its carbon footprint by eliminating 11 million pounds of carbon dioxide each year," said David Weiss, President and Chief Operating Officer of the Energy Services Division for Pepco Energy Services. "That's the environmental equivalent of planting more than 1,700 acres of trees."
Pepco Energy Services will manage the project, but much of the work will be performed by local companies, which includes a commitment of 10 percent minority contract representation. The project, which will begin construction next month, is expected to be completed by February 2010.
Since 1995, Pepco Energy Services has developed, implemented and financed over $750 million of energy conservation, energy infrastructure and renewable energy projects for more than 300 customers, including the single largest energy savings performance contract ever awarded by the Federal Government -- a project for the Military District of Washington which includes five military bases in the Washington, D.C. area that will produce over $240 million of energy savings over the contract term.
Accredited by the National Association of Energy Service Companies (NAESCO), Pepco Energy Services has also completed energy savings contracts in North Carolina for the N.C. State Government Complex in downtown Raleigh (20 buildings), for Catawba College and St. Andrews Presbyterian College and for Baltimore City Schools and City Government, the Washington, D.C. Convention Center and Andrews Air Force Base.
About Pepco Energy Services
Pepco Energy Services, Inc., a wholly owned subsidiary of Pepco Holdings, Inc. , provides commercial, institutional, government and industrial customers with competitive electricity and natural gas supply, and energy efficiency services. Visit http://www.pepcoenergy.com/ for more information.
Pepco Energy Services, Inc. is not the same company as Potomac Electric Power Company, and prices and services of Pepco Energy Services, Inc. are not set by the Public Service Commission.
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.
