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Deal Spotlight

PPA Financing for Cogeneration and Efficiency Measures in Manhattan Hotel

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Projected energy savings
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Projected GHG savings
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Vehicles taken off the road

The Building: Millenium Hilton

Building type
Commercial

Building size
1 building
383,166 square feet
569 rooms

Year built
1961

Location
New York, NY

Project type
Cogeneration

NYCEEC loan product
PPA

Term
8 years

Closing date
December 2012

The Project

The Millenium Hilton is a large business-oriented hotel in the Lower Manhattan. The hotel wanted to install a new cogeneration system in order to save money and improve building systems.

Total Project Cost

$3.8 M

Incentives

$723,000

NYCEEC Loan

$2.4 M

The Results

The hotel significantly reduced operating costs and improved building systems. The project used a power purchase agreement as a non-debt solution to install cogeneration and to upgrade building systems.