SOURCE: Pacific Edison

Pacific Edison

June 05, 2009 17:41 ET

VenuWorks and Pacific Edison Team Up to Deliver Renewable Energy Development and Consulting Services to VenuWorks Clients

AMES, IA and SANTA MONICA, CA--(Marketwire - June 5, 2009) - VenuWorks, a venue management company in the United States, and Pacific Edison, the premier renewable energy development and consulting firm serving sports and entertainment venues throughout North America, announced today a strategic partnership focused on helping VenuWorks clients to adopt onsite renewable energy.

Under the agreement, VenuWorks will expand its suite of value-added facility management services to include renewable energy project development and consulting provided exclusively by Pacific Edison. Through this landmark partnership, VenuWorks becomes the first venue management firm in the industry to launch a formal initiative aimed at assisting its portfolio of more than 28 venue clients in hosting solar and wind energy systems onsite at their facilities.

VenuWorks, headquartered in Ames, Iowa, manages arenas, theaters and convention centers in 15 communities in 11 states. Locations include arenas in Iowa, North Dakota, Washington, Illinois and South Dakota; performing arts venues in Kansas, Minnesota, Iowa and Mississippi; convention centers in Texas, North Carolina, Washington, Mississippi, Iowa and Wisconsin and outdoor festival grounds in Iowa, Wisconsin and North Carolina.

"This is a great opportunity for us to be on the cutting edge of environmentally responsible technology that also has the potential to ease the high cost of traditional energy sources," said Steve Peters, President of VenuWorks.

"We are delighted to be working with VenuWorks on this important initiative," said Dion Camp-Sanders, CEO of Pacific Edison.

Pacific Edison will bring its deep expertise in renewable energy solutions to VenuWorks' roster of sports and entertainment venue clients. Pacific Edison will make available to VenuWorks clients customized feasibility studies to determine the most appropriate type of renewable energy system for each client to pursue based on the client's goals and objectives, energy consumption patterns, available real estate, and the economic incentives supporting renewable energy that are available in the client's local area.

Under the strategic partnership, Pacific Edison will advise VenuWorks clients on how to install solar and wind energy systems at their facilities with no upfront capital or operating risk. Through Pacific Edison's relationships with industry leading project financiers, VenuWorks clients will have access to hundreds of millions of dollars of committed capital available to fund their renewable energy projects. Most venues will have the opportunity to not only save money on their energy costs from the first year of operation, but they will also be able to hedge against utility price volatility and lock-in millions of dollars of savings during the term of a power purchase agreement (PPA).

In some situations, Pacific Edison will be able to facilitate revenue generating lease transactions between VenuWorks clients and their utilities under which the VenuWorks clients are paid rent in exchange for hosting solar or wind energy systems on their rooftops, in their parking lots, or on undeveloped land adjacent to their buildings, that generate valuable clean power which is sold back to the utility grid.

"Pacific Edison executives have decades of experience understanding the specific needs of venue owners and operators," said Dion Camp-Sanders, "we therefore bring an array of renewable energy solutions that will help VenuWorks clients to control their energy costs, reduce their carbon footprints, and address the unique marketing and financial challenges that face those clients."

About Pacific Edison, LLC

Pacific Edison, LLC (PacEd) is the premier renewable energy project development and consulting firm serving sports and entertainment venues throughout North America. PacEd also delivers green energy solutions to theme parks, attractions, public assembly facilities, municipalities, school districts, universities, hospitals, non-profits, and commercial property owners. PacEd enables clients to adopt onsite renewable energy with no upfront capital or operating risk. PacEd's range of development and consulting services include conducting feasibility studies, managing RFPs, arranging project financing, overseeing the design and installation of renewable energy systems, and negotiating contracts on behalf of clients with key counterparties (utilities, financiers, installers, etc.). For more information, please visit us online at www.pacificedison.com.

About VenuWorks

VenuWorks is well known for its success in providing full management services for arenas, theaters, and convention centers, which are primarily under the governance of municipalities, counties, colleges, and universities. VenuWorks, headquartered in Ames, Iowa, serves 27 facilities in 15 communities throughout the US. It also manages food and beverage operations and provides event booking and promotion services. VenuWorks also performs feasibility studies and consulting work for clients with existing and prospective public assembly facilities. For more information regarding VenuWorks, please visit us online at www.venuworks.com.

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