Bedford County and Schools Choose NORESCO for $7.9 Million Energy Infrastructure Project in Virginia

WESTBOROUGH, Mass., Sept. 5, 2012 /PRNewswire/ -- NORESCO, a national leader in energy efficiency and energy infrastructure solutions, has secured a $7.9 million guaranteed energy savings agreement with Bedford County (BC) and Bedford County Public Schools (BCPS) in Virginia. NORESCO specializes in the development, design, construction, financing and operation of energy and environmental efficiency projects, and is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp. (UTX).

The project is funded by reductions in energy and water usage over a 15-year contract term, with no upfront cost to taxpayers for improvements to county buildings and schools. The aggregated project includes improvements to lighting, energy management and HVAC systems, water conservation and weatherization. The building and school enhancements will improve the learning and work environment for students, teachers and staff. Construction began at the end of April 2012, and completion is forecasted for October 2013.

"BC and BCPS are trusted to take care of citizens, students, teachers and staff. NORESCO is pleased to work on projects, such as this, to innovate solutions with local governments," said John Hobbes, group director, NORESCO.

NORESCO's analysis of financial options demonstrated that BC and BCPS could achieve greater results by working in tandem, resulting in improved buying power and jointly procured services. As beneficiaries of the collaboration, three schools are financially able to receive new windows. Working separately, school capital would have been required for the new windows.

For more information, visit NORESCO's website at www.noresco.com.

About NORESCO
As one of the largest U.S. energy services companies, NORESCO specializes in the development, design, construction, financing and operation of energy and environmental efficiency projects, performance contracting and central energy plants. NORESCO's clients include federal government agencies, universities, state and local governments, school districts, hospitals, industrial and commercial businesses. NORESCO has implemented more than $2.5 billion in energy savings at more than 2,000 sites throughout the U.S. and abroad. NORESCO is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide.

SOURCE NORESCO



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