Newark Housing Authority Signs Energy Performance Contract with Constellation Energy Guaranteeing $78 Million in Savings
Energy Conservation Upgrades to Create an Estimated 60 Local Jobs and
Reduce Energy Costs for Housing Authority and Its more than 10,000
Residents
BALTIMORE & NEWARK N.J.--(BUSINESS WIRE)--
Constellation Energy (NYSE: CEG) and the Newark Housing Authority (NHA)
today announced the signing of an energy performance contract (EPC) for
approximately $50 million in energy
conservation measures at 39 housing developments. Under the terms of
the EPC, the water and energy efficiency improvements provided by
Constellation require no upfront capital from NHA and are guaranteed to
provide more than $78 million in energy cost savings over a 15-year
period.
NHA will use the guaranteed cost savings to fund the installation of its
energy conservation measures. The EPC with Constellation Energy's retail
business is a first for NHA, and the third largest for a U.S. Department
of Housing and Urban Development (HUD) public housing authority.
"This EPC with Constellation Energy allows NHA to conduct another round
of physical improvements at our properties while saving millions of
dollars on energy costs," said Keith Kinard, executive director for
Newark Housing Authority. "Additionally, these improvements will help to
reduce NHA's carbon footprint and ensure a healthy and sustainable
community for our more than 10,000 residents."
By implementing these energy and water conservation measures, NHA
expects to conserve an estimated 102 million gallons of water and avoid
the creation of 16,596 metric tons of carbon dioxide annually.
Conservation measures include: energy efficient lighting; boiler
controls to reuse waste heat and balance heating system input with
outside air temperature; low-flow toilets, shower heads and faucet
aerators; cogeneration equipment to produce heat and power; and the
decentralization of heating and hot water systems to improve efficiency
and resident comfort.
"NHA's actions are a positive step for our city in terms of the
environment, the local economy and benefits to taxpayers," commented
Newark Mayor Cory A. Booker. "I applaud NHA for its continued commitment
to energy conservation and to building and maintaining affordable
housing for the people of Newark."
Constellation Energy will employ approximately 60 people in the Newark
area during the design and construction of NHA's energy efficiency
upgrades, and estimates that 200 individuals in total will be involved
in providing materials and services for the scope of the project. In
addition, Constellation Energy will employ two full-time associate site
superintendents through HUD's Section 3 jobs program to assist in
monitoring and maintaining energy conservation measures for the duration
of the EPC. Energy efficiency work is scheduled for completion by fall
2013.
"During a time when many agencies are looking for ways to do more with
less, energy performance contracting is a valuable resource for public
entities to leverage their existing operational budget for needed
capital improvements," said Michael D. Smith, senior vice president of
green initiatives for Constellation Energy's retail business.
"Constellation Energy looks forward to working with the Newark Housing
Authority to help maximize energy savings and improve resident comfort."
In addition to energy and cost reductions under the EPC, Constellation
Energy will support NHA's sustainability goals by providing energy and
water conservation education programs to residents.
An NAESCO-accredited Energy Services Provider, Constellation Energy has
worked with more than 40 housing authorities throughout the U.S. to
implement HUD's Energy Performance Contracting programs.
Constellation Energy is also one of seven National Super Energy Savings
Performance Contract suppliers chosen by the U.S. Department of Energy
to improve the efficiency of federal buildings through energy retrofit
projects, energy saving performance contracts and deployment of
renewable energy systems.
Customers interested in energy efficiency and environmental solutions
may contact Constellation Energy at 1-800-4ENERGY or email cepsinfo@constellation.com.
About Constellation Energy
Constellation Energy (www.constellation.com)
is a leading competitive supplier of power, natural gas and energy
products and services for homes and businesses across the continental
United States. It owns a diversified fleet of generating units, totaling
approximately 12,000 megawatts of generating capacity, and is a leading
advocate for clean, environmentally sustainable energy sources, such as
solar power and nuclear energy. The company delivers electricity and
natural gas through the Baltimore Gas and Electric Company (BGE), its
regulated utility in Central Maryland. A FORTUNE 500 company
headquartered in Baltimore, Constellation Energy had revenues of $14.3
billion in 2010.
About Newark Housing Authority
The Newark Housing Authority (www.newarkha.org)
is the largest public housing authority in New Jersey, charged with
providing low-income residents in Newark with renovated, safe and
affordable housing. The Authority owns and operates over 8,000 rental
units consisting of townhomes, hi-rises and three-story walk-ups. Its
mission is to invest in families by building and maintaining affordable
housing to encourage economic independence and healthy communities.
Constellation Energy
Kelly Biemer, 410-470-7433
or
Newark
Housing Authority
Lauren Hudock, 973-273-2217
Source: Constellation Energy
News Provided by Acquire Media
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