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Vicinity Energy Acquires Central Energy Plant Serving Historic Watergate Complex in Washington D.C.

By District Energy posted 06-18-2020 09:46


Yahoo! Finance


Vicinity Energy announced today that it has acquired the district energy system serving the historic Watergate Complex in Washington D.C. and taken over operations as of February 1st 2020. The acquisition is the first for the company under its new ownership, making Washington D.C. the eleventh major city served by Vicinity. This brings Vicinity's portfolio to a total of eighteen district energy networks. It comes on the heels of Washington, D.C. passing the most ambitious clean energy law in the country.

Positioned in the city's Foggy Bottom neighborhood, the Watergate Energy Collaborative Utility serves a group of six buildings with high pressure steam and chilled water. Vicinity will own and manage the energy operations on the mixed-used campus, providing heating and cooling under six separate 25-year energy service agreements.

Vicinity has committed to invest over $11 million in the plant and distribution system to improve efficiency, reliability and sustainability. The company will convert the plant's 55-year-old steam heating system to high efficiency hot water, complete efficiency upgrades to the chilled water system, and install an advanced treatment system to facilitate use of groundwater, currently sent to the sewer, as makeup water to the plant, saving millions of gallons of water each year.

"We are proud to serve as the new owner and operator of the central utility plant for this important piece of the city's history and look forward to working with the Watergate community on delivering the highest quality, and most resilient and sustainable energy services possible," said Bill DiCroce, president and chief executive officer of Vicinity Energy. "In addition to ensuring building occupant comfort, state-of-the-art, efficient energy systems are important for the long-term viability of historic campuses like the Watergate Complex."

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Vicinity Press Release