Metrus Energy Announces Efficiency Services Agreement
with Wells College
$2.2 Million Dollar Project is Company’s First Higher Education Transaction
September 18, 2018
Metrus Energy has announced an Efficiency Services Agreement (ESA) project with Wells College in Aurora, New York. The project will begin construction this month and be operational in the second half of 2019.
The project is Metrus’ first energy efficiency-as-a-service transaction with a higher education customer and will focus on creating a more comfortable living and learning environment in key residential dormitory buildings and academic spaces. The work includes campus lighting, comfort control upgrades, building envelope, steam traps and significant new HVAC controls. These efficiency improvements will result in approximately a 14% reduction in total electricity use on campus and a 28% drop in fossil fuel (propane and fuel oil) consumption. New Resource Bank, now a part of Amalgamated Bank, is serving as Metrus’ lender on this project.
“Metrus is pleased to work with Wells College, an innovator in sustainability initiatives at the college level,” said Bob Hinkle, CEO, Metrus Energy. “Metrus’ ESA provides colleges and universities with a path to implementing key facility improvements and accomplishing their sustainability goals; we look forward to helping Wells bolster its already exemplary commitment to the environment.”
Wells boasts the Center for Sustainability and the Environment, which serves as the hub for programs that engage the college community in helping to foster a more sustainable campus environment. The college recently received recognition from the Princeton Review and from the Sierra Club for its sustainability practices and education. Earlier this year, the Association for the Advancement for Sustainability in Higher Education (AASHE) recognized Wells’ sustainability work with a AASHE STARS gold rating. (Learn more about the center and Wells College’s sustainability efforts at wells.edu/sustainability.)
“Sustainability is something we take seriously at Wells, both in what we teach our students and how we manage the health of our buildings,” said Wells College President Jonathan Gibralter. “Working with Metrus, a leader in financing energy efficiency projects, makes sound economic sense and keeps us on target for our sustainability goals.”
Trane®, a leading global provider of indoor comfort systems and services and a brand of Ingersoll Rand, will be responsible for the installation and monitoring of the energy efficiency upgrades. “We applaud Wells for making this important investment in the sustainability of their campus that will also enhance student life for years to come,” said Joshua Tucker, vice president and general manager for Trane in New York, Connecticut and Vermont. “We are honored to expand our work for Wells College and to partner again with Metrus Energy to develop and implement this comprehensive energy savings initiative.”
About Wells College
Wells College (wells.edu) is a nationally recognized, private, coeducational liberal arts college located in Aurora, New York, on the eastern shore of Cayuga Lake. Celebrating its 150th anniversary in 2018, Wells has remained committed to providing a quality education to students through small, interactive classes in multiple disciplines and engaging coursework relevant to life in a changing world. Integrated hands-on learning opportunities, a connected community, and diverse educational opportunities give students the ability to take part in their own educations and prepare them to be active citizens and leaders.
About Ingersoll Rand and Trane
Ingersoll Rand (NYSE:IR) advances the quality of life by creating comfortable, sustainable and efficient environments. Our people and our family of brands — including Club Car®, Ingersoll Rand®, Thermo King® and Trane® — work together to enhance the quality and comfort of air in homes and buildings; transport and protect food and perishables; and increase industrial productivity and efficiency. We are a $13 billion global business committed to a world of sustainable progress and enduring results. Trane solutions optimize indoor environments with a broad portfolio of energy efficient heating, ventilating and air conditioning systems, building and contracting services, parts support and advanced control. For more information, visit www.ingersollrand.com or www.trane.com.