NORESCO Energy Performance Contract to Upgrade University of Massachusetts Dartmouth Facilities

WESTBOROUGH, Mass., Sept. 28, 2011 /PRNewswire/ -- NORESCO, a national leader in energy efficiency and energy infrastructure solutions, has secured a $33.9 million guaranteed energy savings agreement with the Commonwealth of Massachusetts Division of Capital Asset Management and Maintenance (DCAM) for work at the University of Massachusetts Dartmouth (UMD). NORESCO specializes in the development, design, construction, financing and operation of energy and environmental efficiency projects, and is a unit of Carrier Corp., a business unit of United Technologies Corp. (UTX).

The project includes installation and performance term services, and according to DCAM, is the largest initiative of its type ever executed by the organization.  Phase 1 contains 18 energy conservation measures to address energy and water savings opportunities and critical heating, ventilation and air conditioning (HVAC) infrastructure improvements. Phase 2 contains the largest and most complex energy conservation measure - a new gas turbine combined heat and power (CHP) system to replace UMD's old, inefficient heating plant boilers.

The CHP system will produce much of the electricity needed by the campus and do so more cost-effectively than traditional power plants that distribute power long distances over transmission lines. The CHP system will be located in the central plant on the campus and recover and use energy from waste heat for winter heating and summer cooling, a byproduct that is typically discarded by power plants.

"Our guaranteed energy savings agreement allows savings from basic improvements in our buildings, such as lighting, HVAC and water upgrades, to help fund more systemic and engineering-intensive improvements," said Salvatore Filardi, associate vice chancellor for administrative services, University of Massachusetts Dartmouth. "Students, faculty and staff will benefit from more efficient buildings and systems, with no outlays required from taxpayers. Plus, we lower the carbon footprint of the campus."

Beyond the savings generated directly by the project, yearly financial incentives through the Commonwealth's Alternative Energy Portfolio Standard help support the costs for the new CHP. The carbon reduction attributable to the total project is estimated at more than 20 percent of the utility-related footprint.

Both phases will receive substantial financial incentives from the local public utility company. The remainder will be paid from savings generated by the energy conservation and facility modernization measures over a 20-year period. NORESCO is contracted to pay the difference if energy savings fall short of the guaranteed levels.

"Most of UMD's buildings were built between 1967 and 1972, making them less energy efficient than newer facilities. These diverse, high efficiency improvements will help the university use its energy resources more effectively," said Chris Farren, Northeast group director, energy services, NORESCO. "We are honored to deliver this self-funding project on behalf of Commonwealth of Massachusetts taxpayers."

For more information on NORESCO and its services, visit 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. In addition to state government agencies, NORESCO clients include federal government agencies, universities, 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 subsidiary of Carrier Corp.

About Carrier Corp.
Carrier Corp. is the world's leader in high technology heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy efficient products, building controls, and energy services for residential, commercial, retail, transport and foodservice customers. Founded by the inventor of modern air conditioning, Carrier improves the world around us through engineered innovation and environmental stewardship. Carrier is a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide.

SOURCE NORESCO



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