Yahoo! Finance
Summary
Energy and sustainability expert, Schneider Electric, today announced the start of construction on an energy savings performance contract (ESPC) project with the United States Air Force to improve energy resilience and enhance mission readiness at Yokota Air Base (Yokota AB), located outside of Tokyo, Japan.
The ESPC totals $403 million, consisting of $167 million in implementation costs along with 21 years of operations, maintenance, repair, and replacement services. The project includes a combined heat and power (CHP) plant with microgrid controls that can produce more than 10 MW of power to support the base's critical buildings and enhances the efficiency of more than 450 buildings to further optimize demand. This massive project is funded with energy savings guaranteed by Schneider Electric over the 25-year contract term. The project will provide an alternate source of prime power to most of the base's mission-related buildings, alleviating growing concerns of power reliability in the area and further reducing utility costs. This ESPC expands an existing partnership between Schneider Electric and the Air Force, representing the fourth performance contract between the two entities in the past four years.
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