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BALTIMORE, Apr 16, 2009 (BUSINESS WIRE) -- Constellation Energy (NYSE:CEG) announced today that its subsidiary, Constellation Energy's Projects & Services Group has been selected to implement energy and cost saving projects at the University of Maryland Center for Environmental Science (UMCES) Horn Point Laboratory. The initiative is expected to reduce energy usage by 15 percent and result in nearly $5 million in energy cost savings over 20 years through upgrades to water and energy infrastructure systems, energy efficient lighting, and insulation improvements in multiple buildings on the Horn Point Laboratory campus.
"As a premier center for research on the Chesapeake Bay and aquatic ecosystems, the UMCES Horn Point Laboratory is proud to take a leadership role in reducing energy usage at levels that can make a meaningful impact on the environment," said Horn Point Laboratory Director Dr. Michael Roman.
Energy saved by the Horn Point Laboratory will reduce the carbon dioxide emissions of the campus by 2,090 tons annually. The Horn Point Laboratory, a center for research on wetlands, estuarine and oceanic waters, is located in Cambridge, Md. on the banks of the Choptank River, a tributary of the Chesapeake Bay.
The initiative will be financed through an energy performance contract which funds infrastructure upgrades through the guaranteed cost savings created by the improvements themselves, a financing structure approved by the Maryland Board of Public Works and State Treasurer's Office. First year energy and operational savings for the Horn Point Laboratory are expected to total $219,000.
"Through this energy conservation initiative, the University of Maryland Center for Environmental Science is simultaneously focused on significantly reducing its carbon footprint, and making environmental improvements in a fiscally responsible manner that actually will result in savings for taxpayers and the university," said Greg Jarosinski, president of Constellation Energy's Projects & Services Group. "Constellation Energy is committed to helping universities take a lead role in meeting their climate commitments."
This initiative is part of the University System of Maryland's Environmental Sustainability and Climate Change Initiative, and UMCES's adoption of the American College and University Presidents Climate Commitment to reduce energy consumption. The energy conservation work taking place at the Horn Point Laboratory also contributes to the state's EmPOWER Maryland program, which seeks to reduce statewide consumption of energy by 15 percent by 2015.
Constellation Energy's Projects & Services Group is one of five companies pre-approved by the state of Maryland to provide energy services.
About Constellation Energy's Projects & Services Group
Constellation Energy's Projects & Services Group (www.ceprojects.com) is the energy services arm of Constellation Energy (NYSE:CEG), a leading supplier of energy products and services to wholesale and retail electric and natural gas customers. Serving business and institutional customers nationwide, Constellation Energy's Projects & Services Group specializes in financial and environmental solutions that can significantly reduce energy consumption and costs. Constellation Energy's Projects & Services Group delivers the technical expertise to develop large scale energy projects, such as solar, biomass and geothermal projects, and on- or off-site power generation systems. The company also designs and implements full energy system retrofits that save energy and reduce harmful emissions.
About Constellation Energy
Constellation Energy (www.constellation.com) is a leading supplier of energy products and services to wholesale and retail electric and natural gas customers. It owns a diversified fleet of generating units located throughout the United States, totaling approximately 9,000 megawatts of generating capacity, and is among the leaders pursuing the development of new nuclear plants in the United States. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. A FORTUNE 500 company headquartered in Baltimore, Constellation Energy had revenues of $19.8 billion in 2008.
About UMCES
The University of Maryland Center for Environmental Science (www.umces.edu) is the University System of Maryland's premier environmental research institution. UMCES researchers are helping improve our scientific understanding of Maryland, the region and the world through its three laboratories - the Chesapeake Biological Laboratory in Solomons, Appalachian Laboratory in Frostburg, and Horn Point Laboratory in Cambridge - and the Maryland Sea Grant College in College Park. More information about the Horn Point Laboratory is available at hpl.umces.edu.
SOURCE: Constellation Energy
Constellation Energy
Aaron Koos, 410-470-7433
Copyright Business Wire 2009
