If it works for energy savings, what about for C02e savings?
BUFFALO GROVE, Ill., March 18 /PRNewswire/—Siemens Industry, Inc. today announced that its Building Technologies Division and Metrus Energy, Inc. have reached a financing agreement with BAE Systems, a leader in the defense industry, to make its facility In Merrimack, N.H., energy efficient. Under the deal’s unique pay-for-performance structure, BAE Systems only pays for the actual energy savings realized from the program’s comprehensive energy efficiency improvements, while immediately experiencing the environmental, operational and bottom-line benefits.
Energy Efficiency projects in the private sector have long been stymied by the lack of available financing options and other cost barriers. The project, currently underway and scheduled for completion in the fall of 2010, is being underwritten by Metrus through its Efficiency Services Agreement (ESA). At the project’s core is the energy savings performance guarantee delivered by Siemens. Siemens, which is managing all aspects of the project, will implement the energy efficiency measures and provide the ongoing performance guarantee, something the company has been delivering successfully to public and private entities for more than two decades.
“BAE Systems is committed to improving the environment by becoming increasingly energy efficient,” said Don Hill, facilities director for BAE Systems’ New Hampshire-based Electronic Solutions business. “This program will go a long way toward meeting our sustainability goals.”
“BAE Systems is only paying for the value of actual realized and verified savings,” said Joe Berkemeyer, director of Financial Services for Siemens. “Because of our excellent track record of performance and financial strength, investors like Metrus can rely on our performance guarantee and offer this type of agreement to customers like BAE Systems. In essence, our program helps BAE Systems improve the sustainability of their operations from both an operational and environmental standpoint.” [more]