SOURCE: Distributed Sun

Distributed Sun

October 27, 2011 14:56 ET

Washington Gas Energy Systems Offers Support for Cornell/D-SUN NYC Tech Campus Proposal

Organizations Agree to Co-Develop and Fund Distributed Sun's Renewable Energy Solutions If Cornell Wins Bid

NEW YORK, NY--(Marketwire - Oct 27, 2011) - Distributed Sun LLC (D-SUN), a Washington, DC based solar commercial developer, interstate distributed power-producer, and Solar Energy Investment Company (SEIC) manager, and Washington Gas Energy Systems, a wholly owned subsidiary of WGL Holdings, Inc., today announced plans to co-develop and finance proposed renewable energy solutions in Cornell University's bid to win the NYC Tech Campus contract on Roosevelt Island. The solar, geothermal and fuel cell power source solutions, proposed for the landmark campus, will generate an estimated 9 gigawatt-hours of electricity per year. Guided by Cornell's energy vision, and strengthened by Distributed Sun's proprietary underwriting and finance structures, Washington Gas Energy Systems steps forward with funding support to bolster the proposals.

"Should the proposal win, this would be an exceptional fit and in line with our commitment to have a diversified portfolio of clean energy solutions," says Gautam Chandra, Vice President of Strategy, Business Development and Non-Utility Operations for WGL Holdings, Inc. "The cost for solar deployments has declined nearly 75 percent over the past four years, and will continue declining this quarter and for the foreseeable future. When combined with New York state's policy support for renewable energy, Distributed Sun's innovative finance structures, Cornell University's commitment, and the Mayor's and the city's calls to action, we are very pleased to add our support for the proposals."

If built today, the plan would deliver the largest net-zero building in the Eastern United States -- among the top four largest buildings in the country. Distributed Sun's distributed solar arrays, at 1.8 megawatts, and geothermal system with 400 wells, 500 feet deep and spanning 4 acres, will showcase New York City's biggest renewable power sources of their type. Together with 22,500 annual MMBtus of natural gas provided by Washington Gas Energy Systems fuel cells, these energy solutions will reduce grid electricity consumption by as much as 75 percent and generate cleaner power with approximately 50 percent lower greenhouse gas emissions, compared to a similarly sized, traditional campus that meets today's energy code.

"The commitment from Washington Gas Energy Systems underscores Cornell University's amazing and tireless preparations to deliver on its proposals to the City of New York," says Jeff Weiss, Managing Director of Distributed Sun's SEICs.

When announcing New York City's plans to create an applied sciences university to rival Silicon Valley, Mayor Bloomberg stressed the importance of new company formation and job creation. Cornell's campus design visibly embodies Bloomberg's vision. Jobs are being created by companies like Washington Gas Energy Systems and Distributed Sun in the U.S. solar industry 10 times faster than the national average (Solar Foundation), overtaking U.S. steel production by total number of jobs in the first quarter of 2011 (U.S. Bureau of Labor Statistics). Also, renewable generation outpaced U.S. nuclear power production by 17 percent for the first time ever during the same period (U.S. Energy Information Agency).

ABOUT D-SUN (click here)

ABOUT Cornell (click here) Visual Details of Proposed Plan (click here)

ABOUT WGL Holdings, Inc. and Washington Gas Energy Systems Headquartered in Washington, D.C., WGL Holdings has three operating segments: (i) the regulated utility segment, which primarily consists of Washington Gas, a natural gas utility that serves over one million customers throughout metropolitan Washington, D.C., and the surrounding region; (ii) the retail energy marketing segment which consists of Washington Gas Energy Services, Inc., a third-party marketer that competitively sells natural gas and electricity and (iii) the design-build energy systems segment, which consists of Washington Gas Energy Systems, Inc., a provider of design-build energy efficiency solutions to government and commercial clients. Additional information about WGL Holdings is available on its website, wglholdings.com. Go to washingtongas.com for more information about Washington Gas Light Company.

Contact Information

  • PR CONTACT
    For more information, please contact
    Dan Schneider
    202-706-6172
    Email Contact

Webosphere

Keyword Cloud

View Website