NORESCO to Execute $5.8 Million Infrastructure Project for Allendale County Schools in South Carolina

WESTBOROUGH, Mass., Oct. 20 /PRNewswire/ -- NORESCO will execute a $5.8 million energy savings performance contract (ESPC) for infrastructure improvements to the Allendale County Schools (ACS) in South Carolina. ACS will fund the project through a combination of guaranteed energy savings and capital contributions as allowed by state legislation. NORESCO, a national leader in energy savings, is a subsidiary of Carrier Corp., which is a unit of United Technologies Corp. (NYSE: UTX).

Located in a rural environment, ACS faces economic challenges to provide educational services to 1,600 pre-kindergarten through high school students. Extensive water damage exposed the need to replace the roof and make other repairs at Allendale High School and the adjacent Vocation Building. By evaluating financial alternatives, NORESCO was able to incorporate much needed energy saving upgrades that offset a portion of the required repairs.

NORESCO's agreement with ACS includes roof replacements on two buildings, upgrades to heating, ventilating and air-conditioning systems, improvements to lighting and lighting control systems, and replacement of the domestic hot water system, as well as expansion and upgrades to computerized energy management controls. The project will result in guaranteed energy savings worth almost $50,000 during the first year of the agreement.

"With this project, we are greatly improving the learning and working environment of our students and staff," stated Dr. Ora Watson, superintendent, ACS. "Because we are combining the roof replacement and repairs with mechanical and lighting system upgrades, we are not only upgrading the building, but making it more energy efficient."

Bill Foster, vice president, NORESCO added, "With an energy savings performance contract, ACS can match the payment schedule with the life of critical improvements. We are pleased to work on projects like ACS which enhance the learning environment for students."

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 school districts, NORESCO clients include federal and state government agencies, public housing authorities, universities, local governments and industrial and commercial businesses.

About Carrier Corp.

Carrier Corp., headquartered in Farmington, Conn., is the world's largest provider of heating, air-conditioning and refrigeration solutions, with operations in more than 170 countries. Carrier is part of United Technologies Corp., a Hartford, Connecticut-based provider of products and services to the aerospace and building systems industries worldwide. Visit www.carrier.com for more information.

SOURCE NORESCO



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