Schneider Electric to guarantee Navy $114 million in energy costs savings
Written By: Stratton Report
April 5, 2016
On April 5, Schneider Electric, announced an energy savings performance contract to perform infrastructure improvement projects at two California navy bases.
Schneider will perform the work at Naval Base Coronado and Naval Base San Clemente Island sites. Once complete, Schnieder will guarantee $114 million over the 19-year project term in energy cost savings, providing a cash flow which the Navy can use to finance the expenditure.
This extensive project encompasses upgrades to 90 buildings including data center and electrical upgrades, as well as renewable energy and traditional energy conservation measures. The project is intended to increase the reliability and capacity of mission critical facilities, reduce overall operational and maintenance costs and add renewable sources to the Navy’s energy portfolio. Construction is expected to be complete in 2018.
Jeff Sherman, Director, Federal Energy and Sustainability Services, Schneider Electric noted:
“Federal facilities face a number of unique challenges, including aging infrastructure coupled with today’s climate of rising overhead costs, limited budgets and government mandates, making it essential for these facilities to run at maximum efficiency at all times. We are proud and excited to work with the U.S. Navy on one of the first comprehensive federal data center energy savings performance contracts (ESPC) and offer our combined expertise in data center and power management to help the Navy meet its energy efficiency goals and adhere to federal mandates without incrementally burdening U.S. taxpayers.”