News | June 24, 2014

Washington Gas Energy Systems And Presbyterian Senior Living Announce Completion Of Solar Array In Glen Arm, Md.

MCLEAN, VA.--(BUSINESS WIRE)--

Presbyterian Senior Living will unveil its 1,230-kilowatt (kW) solar array at Glen Meadows Retirement Community in Glen Arm, Md. in a ribbon cutting ceremony tomorrow with representatives from Washington Gas Energy Systems, Inc., ABM, Building Energy, Sol Systems, and Clark EcoEnergy. The ground-mounted solar array will be owned and operated by Washington Gas Energy Systems under a 20-year power purchase agreement. Washington Gas Energy Systems is a subsidiary of WGL which offers a diverse set of energy sources including natural gas, wind, and solar as well as a range of energy solutions – generation, storage, transportation, distribution, supply, and efficiency – and serves customers in more than 25 states.

“The completion of the Presbyterian Senior Living solar project at Glen Meadows Retirement Community is a major milestone for Washington Gas Energy Systems as we now own and operate approximately 17 megawatts throughout the state of Maryland,” said Sanjiv Mahan, chief operating officer of Washington Gas Energy Systems. “Through our unique financing model, we continue to make solar power accessible to businesses, municipalities and school systems. Our commitment to bringing renewable energy to organizations in the state and across the country is unwavering.”

The 1,230-kilowatt ground-mounted system is comprised of 4,180 solar panels. It is expected to generate approximately 1,680 megawatt (MW) hours of solar energy per year, reducing greenhouse gas emissions equivalent to taking 244 cars off the road each year.

“At no up front cost to Presbyterian Senior Living, this project will reduce the carbon footprint of Glen Meadows Retirement Community while improving our bottom line,” said Steve Proctor, chief executive officer of Presbyterian Senior Living. “As a not-for-profit organization, we look forward to reliable clean energy costs over the next two decades, which will help us direct funds to the health and wellbeing of our residents.”

Sol Systems, a solar energy finance firm based in Washington, D.C., acted as investment advisor to Washington Gas Energy Systems in the transaction. Sol Systems originated the project opportunity from Building Energy, an Italian-based independent power producer. Building Energy developed the project opportunity through a joint venture with ABM, which handled the engineering, procurement and construction.

“We are committed to streamlining the investment process for distributed generation solar projects such as the one at Presbyterian Senior Living,” said Yuri Horwitz, chief executive officer of Sol Systems. “The Sol Systems team is proud to work with a financing partner like Washington Gas Energy Systems to drive investment into the mid-sized commercial solar market at Glen Meadows Retirement Community and similar facilities across the country.”

The solar array is one of several ways that Presbyterian Senior Living is reducing the organization’s carbon footprint, with other initiatives including the installation of energy tracking software, low flow showerheads and toilets, high-energy windows and energy-efficient heating and cooling units.

“At Clark EcoEnergy, we are committed to bringing commercial solar energy solutions to businesses, organizations and communities across the Mid-Atlantic,” said Chris Ichter, director of operations of Clark EcoEnergy. “Presbyterian Senior Living can now look forward to controlled energy costs and a more stable operating budget at Glen Meadows Retirement Community.”

Washington Gas Energy Systems now owns 14 solar projects in Maryland, including a 1.26 MW solar array developed for Kent County, an 803 kW system at Mace’s Lane Middle School in Dorchester County and two 2.5-MW projects built for the Washington Suburban Sanitary Commission.

About Washington Gas Energy Systems, Inc.:

Washington Gas Energy Systems, Inc., an affiliate of Washington Gas Light Company and a subsidiary of WGL Holdings (NYSE: WGL), design-builds and owns custom energy solutions that deliver financial, operational and carbon reduction results for customers across the United States. Washington Gas Energy Systems is focused on energy efficiency projects and distributed generation assets including solar and fuel cells. For more information on how Washington Gas Energy Systems can make solar power a reality for you, call 703-333-3900. For further information about Washington Gas Energy Systems, please visit www.wgesystems.com.

About Presbyterian Senior Living:

Presbyterian Senior Living is a not-for-profit organization, providing retirement and senior care services for more than 85 years. Headquartered in Dillsburg, Pennsylvania, Presbyterian Senior Living provides services to approximately 6,000 seniors in the mid-Atlantic region of Pennsylvania, Maryland, Ohio and Delaware. Presbyterian Senior Living fulfills its charitable purpose and mission by providing a full range of high-quality healthcare, housing, and other related community services directed primarily to people 55 and over. For more information, please visit http://www.presbyterianseniorliving.org/.

About Sol Systems:

Sol Systems is a renewable energy finance firm that provides secure, sustainable investment opportunities to investor clients, and sophisticated project financing solutions to developers. Founded in 2008, Sol Systems focuses on meeting the industry’s most critical solar financing needs, including tax structured investments, capital placement, debt financing, and SREC portfolio management. To date, the company has facilitated financing for thousands of distributed generation solar projects and hundreds of millions in investment on behalf of Fortune 100 corporations, utilities, banks, family offices, and individuals. For more information, please visit www.solsystemscompany.com.

About ABM:

ABM (NYSE: ABM) is a leading provider of facility solutions with revenues of $4.8 billion and over 100,000 employees in 350+ offices deployed throughout the United States and various international locations. ABM's comprehensive capabilities include facilities engineering, commercial cleaning, energy solutions, HVAC, electrical, landscaping, parking and security, provided through stand-alone or integrated solutions. ABM provides custom facility solutions in urban, suburban and rural areas to properties of all sizes — from schools and hospitals to the largest and most complex facilities, such as manufacturing plants and major airports. ABM Industries Incorporated, which operates through its subsidiaries, was founded in 1909. For more information, visit www.abm.com.

About Building Energy:

Building Energy is an independent producer of energy from renewable sources with a large portfolio of renewable plants in operation, construction and development, with a total pipeline in excess of 800MW in Europe, Africa, Central and North America. In South Africa,Building Energy won the contract for the biggest photovoltaic project on the African continent - 81 MW in Kathu - in the first round of the REIPP, the South African government's incentive program for the production of renewable energy. The power station is currently under construction and is expected to be in operation by August 2014. For more information, visit www.buildingenergy.it.

About Clark EcoEnergy:

EcoEnergy offers turnkey commercial solar energy installation services across the Mid-Atlantic region. EcoEnergy specializes in the development, construction, commissioning and maintenance of commercial solar energy systems. For more information please visit www.clarkecoenergy.com.


Copyright Business Wire 2014

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