Willdan Awarded $32.8 Million Contract Modification with Con Edison
Category: Press Release
Mar 24, 2016
ANAHEIM, Calif.--(BUSINESS WIRE)-- Willdan Group, Inc. ("Willdan")(NASDAQ: WLDN) announced that it has been awarded a one-year, $32.8 million modification from Con Edison to an existing Small Business Direct Install (SBDI) contract. Under the modification, which extends through the end of 2016, Willdan will be delivering approximately 86 million kilowatt-hours in electric energy savings to Con Edison's small business customers throughout the entire Con Edison service territory. This includes the Bronx, Brooklyn, Queens, Manhattan, Staten Island and Westchester County, New York. Willdan described this forthcoming modification in its recent fourth quarter earnings conference call.
Services will include outreach to small businesses, completing on-site energy efficiency surveys, implementing energy-saving projects, and partnering with the community and local businesses. To offset some of the installed cost, Con Edison is paying for incentives that will allow services to be provided to their customers at a reduced cost.
Willdan has provided energy savings services for Con Edison's SBDI program since 2009, and recently completed the program cycle for 2012-2015. Willdan has been responsible for the entire program since 2014, delivering all of the savings required by Con Edison within the program budget.
"We are pleased that, through this contract extension, Con Edison has once again shown its confidence in Willdan's ability to help them achieve their small business energy reduction goals," commented Tom Brisbin, President/CEO of Willdan Group, Inc. "We look forward to our continued success on the program, and to providing quality services for Con Edison and its customers."
SBDI is one of the energy efficiency programs Con Edison offers to help customers save energy, lower their bills, and protect the environment. The company offers small business customers free energy surveys and pays up to 70 percent of the installed cost for most energy-saving measures.
Willdan provides professional consulting and technical services to utilities, public agencies and private industry throughout the United States. The Company's service offerings span a broad set of complementary disciplines that include energy efficiency and sustainability, engineering and planning, financial and economic consulting, and national preparedness. Willdan provides integrated technical solutions to extend the reach and resources of its clients, and provides all services through its subsidiaries specialized in each segment. For additional information, visit Willdan's website at www.willdan.com.
Forward Looking Statements
Statements in this press release that are not purely historical, including statements regarding Willdan's intentions, hopes, beliefs, expectations, representations, projections, estimates, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that Willdan will not be able to expand its services or meet the needs of customers in markets in which it operates. It is important to note that Willdan's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, a slowdown in the local and regional economies of the states where Willdan conducts business and the loss of or inability to hire additional qualified professionals. Willdan's business could be affected by a number of other factors, including the risk factors listed from time to time in Willdan's SEC reports including, but not limited to, the Annual Report on Form 10-K filed for the year ended January 1, 2016. Willdan cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any forward looking statements in this press release.
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Willdan Group, Inc.
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Source: Willdan Group, Inc.