Clean Energy at The Ability Groupís Hotel Portfolio
EuroSite Power To Provide Clean Energy From Combined Heat And Power Systems At The Ability Groupís Hotel Portfolio In The United Kingdom
Thursday April 5th 2012
WALTHAM, Mass. – April 5, 2012 – EuroSite Power Inc., an On Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centres in the United Kingdom (UK) and Europe, today announced that it has reached an agreement to supply clean energy to four landmark hotels owned by The Ability Group and managed by Hilton Worldwide.
Under the terms of the thirty-year agreement, the Company will install and operate combined heat and power (CHP) systems at the following properties:
• London Syon Park, a Waldorf Astoria Hotel, the only Waldorf Astoria Hotel currently in the UK
• Hilton Liverpool, a stylish, modern hotel situated in the heart of the Liverpool One leisure development
• DoubleTree by Hilton Cambridge, situated on the banks of the River Cam
• Hampton by Hilton, currently under construction to serve London Luton Airport
The various CHP systems will produce up to 951 kW of energy or approximately 4.8 MW of total energy per year. The Ability Group will receive a discount on the energy produced by the CHP systems and reduce its carbon emissions from each property. The value of the agreement to the Company is £11 million.
“Being able to welcome The Ability Group as a customer is very significant for EuroSite Power,” said Paul Hamblyn, Managing Director of EuroSite Power. “Our On-Site Utility solution is ideal for owners of multiple buildings and correctly sized CHP works so well in hotels. The Company continues to pursue other large property holders to accelerate our growth within the United Kingdom and European markets.”
Lionel Benjamin, Head of Hotel and Leisure Division for The Ability Group said “We liked EuroSite Power’s approach because it required no capital investment and guaranteed us a saving, whatever happens to energy prices in the future.”
EuroSite Power will produce clean energy in the form of electricity, heating and domestic hot water for each hotel at a price lower than The Ability Group’s current and future energy suppliers. Because The Ability Group opted for the Company’s On-Site Utility solution, each hotel will pay only for the energy used and will avoid all capital, installation and operating costs. The Company will also handle all service, maintenance and repair; therefore, neither The Ability Group nor Hilton Worldwide will need to provide manpower to support the energy equipment.
The specific CHP systems planned for these properties are expected to reduce the emissions of the four hotels by 502 tons of carbon dioxide each year and because good quality CHP is supported by the UK government, the impact of the Climate Change Levy and CRC energy efficiency scheme will be greatly reduced. The CRC is a mandatory scheme aimed at improving energy efficiency and cutting emissions in large public and private sector organizations in the UK.
EuroSite Power sells the energy produced from an onsite energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility customers only pay for the energy produced by the system and receive a guaranteed discount rate on the price of the energy. All system capital, installation, operating expenses and support are paid by EuroSite Power.