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September 23, 2013
UMBC Plans Energy and Water Conservation Upgrades; Upgrades will be Completed Through a $5.4M Deal with the Maryland Clean Energy Center Financing Program
The Maryland Clean Energy Center (MCEC) today announced it has closed a $5.4 million Maryland Clean Energy Capital (MCAP) deal to fund lighting, irrigation, and energy management system upgrades at the University of Maryland, Baltimore County (UMBC). NORESCO will serve as the energy service company (ESCO), designing and installing the upgrades, and the Maryland Clean Energy Center is the bond issuer financing the debt. The end result will be energy savings and greater efficiency on the UMBC campus.
UMBC utilizes a prioritized approach for managing energy and utilities whereby energy projects are selected based upon their cost-effectiveness. After performing a campus-wide energy audit and considering numerous energy conservation measures (ECMs), the project was carefully developed. It includes interior lighting upgrades throughout most campus buildings, LED lighting for three parking garages, web-based/weather-optimized irrigation controls, and demand control ventilation for several lecture halls.
Shawn Blum, UMBC’s Energy Manager said, “This project will generate tremendous savings in energy and water consumption. We predict annual savings will be more than 7,000,000 kWh of electricity and 3,000,000 gallons of water. Within ten years, the project will pay for itself via the associated utility savings. The environmental benefits are impressive as well. UMBC’s greenhouse gas emissions will be reduced by over 3,800 MTeCO2 per year, which represents a 4.3% reduction in UMBC’s carbon footprint versus the baseline.”
“UMBC is pleased to implement these lighting, irrigation, and control systems upgrades,” said Rusty Postlewate, Assistant Vice President of Facilities Management at UMBC. “By working with the Maryland Clean Energy Center through its MCAP program, we have been able to undertake this project for the University.”
The Maryland Clean Energy Center MCAP program is available to all Maryland universities, hospitals, municipalities, and schools (MUSH market). MCAP enables non-profit organizations in Maryland to replace inefficient infrastructure assets and avoid incurring this additional debt.
Jeffrey Eckel, Chairman of the MCEC Board and President & CEO of Hannon Armstrong Sustainable Infrastructure said, “We commend the leaders of UMBC for taking advantage of the new MCAP financing program that was created from the vision of Governor Martin O’Malley, without tax-payer support, and allows MCEC to accelerate otherwise stalled capital projects. Through this program, MCEC can foster savings for Maryland institutions, create jobs, and reduce greenhouse gas emissions.”
“It is a win-win-win program and a remarkable model for public-private partnerships. To date, both Coppin State University and UMBC have taken advantage of MCAP financing program,” said Katherine Magruder, Executive Director of the Maryland Clean Energy Center. “Our tax exempt financing capabilities are available to municipalities, hospitals, and not-for- profit entities as well as schools and universities in Maryland.”
Randy Clark, senior vice president, NORESCO, added, “NORESCO is honored to enter into a contract to help UMBC achieve its energy efficiency and cost reduction goals. We are also proud to be among the first to develop an energy performance contract under MCEC’s unique financing approach whereby the University benefits from important upgrades to its facilities.”
MCEC is a self-financing driver of clean energy, economic development, energy innovation, and clean tech jobs in the State of Maryland. Hannon Armstrong Sustainable Infrastructure (NYSE: HASI), an Annapolis-based energy investor, helped create the MCAP structure and arranged the financing for MCEC on a pro bono basis. To learn more about MCEC’s MCAP program and other initiatives of the MCEC visit www.mdcleanenergy.org.
About Maryland Clean Energy Center
The Maryland Clean Energy Center (MCEC) is an instrumentality of the state, created by the legislature in 2008 to advance adoption of clean energy and energy efficiency technologies and practices as an economic development strategy. MCEC assists consumers, supports businesses and advises policymakers. MCEC operates the Maryland Home Energy Loan Program (MHELP) to assist residential property owners finance energy efficiency measures, and manages the Maryland Clean Energy Capital (MCAP) program to finance projects for municipal, university, school, hospital and other not-for-profit organizations. To learn more, visit www.mdcleanenergy.org. Contact MCEC at 443-949-8505
UMBC combines the emphasis on teaching found at the best liberal arts colleges with the innovation of a research university. UMBC’s 13,000 undergraduate and graduate students come from more than 150 countries and take full advantage of the educational, business, cultural, and recreational resources of Baltimore and Washington, D.C. UMBC students work alongside faculty who are leaders in their fields; think about the hard questions of society, science, and creative expression; and then move beyond the classroom to make a difference. UMBC is a member of the University System of Maryland and is accredited by the Middle States Association of Colleges and Secondary Schools. For more information, please visit http://www.umbc.edu.
About Hannon Armstrong Sustainable Infrastructure
Hannon Armstrong Sustainable Infrastructure (“Hannon Armstrong”) (NYSE:HASI) makes debt and equity investments in sustainable infrastructure projects. We focus on profitable projects that increase energy efficiency, provide cleaner energy, positively impact the environment, or make more efficient use of natural resources. With over 30 years of experience, Hannon Armstrong works primarily with Global 1000 clients on essential infrastructure projects involving the U.S. federal, state and local governments as well as institutions and private developers. We target projects that have high credit quality obligors, fully contracted revenue streams and inherent economic value. To learn more, visit www.hannonarmstrong.com.
As one of the largest energy services companies in the U.S., NORESCO utilizes design-build, performance-based contracting vehicles and asset monetization solutions to deliver energy and maintenance savings and significant infrastructure upgrades to existing facilities. NORESCO has guaranteed more than $3 billion in energy and operating cost savings at more than 7,000 facilities throughout the U.S. and abroad. NORESCO also offers a full suite of consulting services to integrate sustainable design strategies into new construction and existing buildings. NORESCO is a part of UTC Climate, Controls & Security, a unit of United Technologies, a leading provider to the aerospace and building systems industries worldwide.
Posted by chelseah at September 23, 2013 11:57 AM