Multi-State Efficiency-as-a-Service Project Continues to Grow
April 19, 2018
Metrus Energy has closed a $5 million efficiency-as- a-service transaction with its Fortune 100 technology customer. The transaction is part of a nationwide rollout of LED lighting and building management systems (BMS) upgrades and will be implemented at sites in two different states. Metrus has now financed more than $41 million under this customer’s ESA program.
The four-year term of this deal is a first for Metrus and it demonstrates the flexibility of its Efficiency Services Agreement (ESA). Including this transaction, Metrus has now financed projects in 19 different states generating over one billion of kWh savings for its customers.
Metrus once again teamed up with Citi and SmartWatt. Metrus will fund 100% of this ongoing efficiency-as-a-service transaction with no capital outlay from the customer. Citi will serve as Metrus’ lending partner and SmartWatt will provide design services as well as construct and monitor ongoing project performance. This project will reduce total electricity use for lighting at these two new customer sites by 77%, thereby eliminating 10,340 tons of annual CO2 emissions. Over the life of this new transaction this is equivalent to taking 8,036 cars off the road.