NORESCO Awarded Department Of Energy Contract; Company To Provide Energy-Saving Solutions To Federally Owned Facilities Worldwide

Westborough, MA - The U.S. Department of Energy (DOE) has awarded an Indefinite Delivery Indefinite Quantity Energy Savings Performance Contract (ESPC) to NORESCO, a national leader in energy-savings solutions. NORESCO, a subsidiary of Carrier Corp., a unit of United Technologies Corp., has been providing ESPC services to the DOE and other government agencies for more than a decade under the DOE's existing Super ESPC program.

The new multi-year contract, with a maximum value of $5 billion over its life, allows agencies to work with NORESCO to implement energy and water efficiency and renewable energy projects at federally owned facilities worldwide. NORESCO is among 16 companies awarded these ESPC contracts that could result in up to $80 billion in projects. ESPC task orders typically are placed competitively. Executive Order 13423, the Energy Policy Act of 2005, the Energy Independence and Security Act of 2007, and DOE's Transformational Energy Action Management (TEAM) Initiative encourage agencies to use ESPCs to meet their goals for energy and water reduction and renewable on-site energy generation. Goals set out in Executive Order 13423 and the requirements put forth by Congress in the Energy Policy Act of 2005 and the Energy Independence and Security Act of 2007 include a 30 percent reduction in energy consumption by 2015, a 16 percent reduction in water use by 2015, and an increase in renewable energy to 7.5 percent of electricity needs by 2013 for federal facilities.

In a separate DOE announcement, U.S. DOE Secretary Samuel W. Bodman stated, "This set of awards will ensure that federal agencies have access to powerful tools for alternative financing at a scale that is needed to meet our challenge of reducing energy intensity, increasing the use of renewable energy, and decreasing water consumption."

Neil Petchers, NORESCO's president and chief executive officer, said, "NORESCO is honored to continue to support the federal government's energy-transformation initiatives. This new award enables us to continue providing substantial energy and cost savings to taxpayers, reduce our dependence on fossil fuels and foreign oil, and reduce harmful emissions and greenhouse gases. We are committed to our long-standing partnership with DOE and look forward to contributing to a very successful program."

SOURCE: NORESCO