American DG signs 15-year deal to supply clean energy to residential buildings in New York

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American DG signs 15-year deal to supply clean energy to residential buildings in New York


American DG Energy, a supplier of low-cost energy through
distributed power generating systems, has signed a fifteen-year agreement to
supply clean energy to multiple residential buildings located in New
York.   

The company will install fourteen combined heat and power
(CHP) systems at multiple residential buildings. CHP systems will manage by RY
Management, a property management company.

The specific CHP systems planned for the properties are
expected to reduce the emissions of the properties by 4,386 tons of carbon
dioxide each year. This reduction is equal to removing the carbon
emissions of 724 cars each year.

The CHP systems, totaling 1050 kW, will be owned and
operated by American DG Energy. The value of the agreement 
to
the company is $27.4 million.

“This is a very significant order for American DG
Energy and it prepares us for a very exciting 2012. As the core piece of our
strategy, the Company continues to pursue large property holders to accelerate
our growth with multi-property deals,” said John N. Hatsopoulos, CEO of
American DG Energy.  

American DG Energy
will produce clean energy in the form of electricity and domestic hot water for
the properties at a price lower than the local energy utility. The
properties will pay only for the energy used and will avoid all capital,
installation and operating costs. The Company will also responsible for
handling all service, maintenance and repair.  

American DG Energy recently announced an
agreement to supply clean energy to Governor Paterson Towers, a 225 unit,
30 story, residential high-rise, located in Paterson, New Jersey.


By GreentechLead.com Team
[email protected]