Greentech Lead America: ABM, a provider of facility solutions, has formed a joint venture between ABM Government Services and Italian power producer Building Energy to provide solar energy services to large-scale commercial and utility-scale solar power markets.
Through the joint venture, ABM expects to become one of the largest energy service companies (ESCOs) in the country, specializing in design, installation, operations and maintenance (O&M), and unique financial solutions for its varied client base.
It will also enhance ABM’s Bundled Energy Solutions (BES) program, which has been designed as a financial solution to meet clients’ technical facility needs and sustainability goals. For ABM, the goal is to drive costs out of a client’s operating budget to allow savings to be reallocated to fund mission critical facility needs.
The venture will bring the significant experience and financial capabilities of two of the energy industry’s leaders to ABM’s existing 20,000+ clients. ABM’s energy businesses and Building Energy have collectively generated over $1 Billion in energy services revenue over the last five years.
Building Energy is a developer, EPC contractor and operator of renewable energy power plants. Like ABM, the company focuses on delivering a comprehensive business model for clients that fully integrates financing, EPC, O&M and asset management services throughout the solar value chain. Also similar to ABM, Building Energy self-performs the majority of its work.
“We have spent considerable effort building our energy services offering specifically around our clients’ needs, and we believe expanding our solar and distributed energy capabilities is a critical next step towards providing a comprehensive energy solution,” said Ted O’Shea, who will lead ABM’s renewables group.
“Building Energy’s service offerings are highly complementary to ABM’s, and they absolutely fit the bill as a partner that will continue to build maximum value for our clients moving forward,” O’Shea added.
Under the joint venture, ABM clients will have the advantage of working with two companies with significant energy services experience as ABM and Building Energy have collectively installed over 250 MWs of solar EPC, along with currently operating and maintaining over 200 MWs of solar facilities in five countries.
Additionally, both ABM and Building Energy have strong financial capabilities and acumen, with both companies having successfully created financial strategies to help clients spend their energy dollars more wisely.