The project will be executed across five categories and financed via a shared savings agreement.
NORTH PALM BEACH, Fla., Jun. 9, 2015 /PRNewswire-iReach/ — Pemco Holdings, LLC(Pemco), a leading investor and developer of energy efficiency projects, announced today that it was selected to finance energy efficiency projects for the Florida Department of Management Services (DMS) using a “shared savings” contract structure. Pemco was selected for five out of five categories put out to bid by DMS, including Electrical Systems; Heating, Ventilation, and Air-Conditioning (HVAC) Systems; Water and Recycling Systems; Building Commissioning; and Energy Data Collection and Analysis.
The department announced that entities associated with the State of Florida will have the ability to “piggyback” the contract with Pemco for energy efficiency improvement projects. This includes cities, school districts, hospitals, universities and many other organizations that can now leverage the due diligence and negotiation done by DMS.
“Being selected by the Florida Department of Management Services as a vendor in this project is a major milestone for Pemco and our partners TLC Engineering, Hypower, Inc., and Southeast Mechanical Contractors,” said Josh Heald, CEO. “The Florida Department of Management Services is taking a leadership position in utilizing the multiple new and innovative ways to finance energy improvements beyond the performance contract model. More importantly, the state will benefit from upgrades to their facilities without impacting their capital budget, pay only for verified energy savings, and immediately realize a portion of the savings. As a rapidly growing company headquartered in Florida, we are proud to have been selected as a partner in this initiative.”
“We are pleased to join the roster of vendors the Department of Management Services will partner with to implement a comprehensive energy efficiency overhaul across the agency,” said John Watson, Pemco Holdings COO. “The shared savings model allows the Department to deploy state-of-the-art technology and leverage the latest in energy efficiency innovation, while optimizing energy cost reduction and cash flow opportunities.”
In addition to Pemco Holdings, nine other companies were also selected in all five categories. These were:
- ConEdison Solutions
- FPL Services, LLC.
- Independent Green Technologies, LLC.
- KW Control Holdings, LLC.
- Noresco United Technologies
- Schneider Electric Buildings Americas, Inc.
Pemco Holdings, LLC, invests in institutional, commercial, and municipal energy efficiency projects that reduce costs and improve asset value. We finance energy conservation measures using our shared savings contract that requires no upfront capital from the customer.
Our high quality network of contractors, engineers, and consultants, audit, design, install, monitor, and maintain projects over the contract term and customers pay only for the energy saved. Clients range from municipalities and school districts to hotel chains and auto dealers.
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