Deal Spotlight
ESA Financing for Energy Effiency and Resiliency After Superstorm Sandy
$
0
Annual cost savings
0
%
Projected energy savings
0
%
Projected GHG savings
The Building: 125 Maiden Lane
Building type
Commercial
Building size
1 building
320,000 square feet
Year built
1959
Location
New York, NY
Project type
Energy efficiency
Upgrades
Building management systems, HVAC
NYCEEC loan product
ESA
Term
9.5 years
Closing date
November 2011 & May 2014
The Project
SCIenergy provided a turnkey energy efficiency retrofit solution with a managed energy services agreement (ESA). The project was severely impacted by Superstorm Sandy with all of the new equipment flooded. In the post-Sandy rebuild, NYCEEC provided a $2.8 million loan to refinance the ESA structure and fund deeper energy efficiency improvements and resiliency measures including State-of-the-art digital controls, building management system, high-efficiency variable speed motors, floor isolation dampers, and district steam to gas conversion.
Total Project Cost
$3.8 M
Other Sources
$1 M
NYCEEC Loan
$2.8 M
Annual Savings
$513,000
The Results
125 Maiden Lane is significantly improving its energy performance and resiliency at no initial cost. The project preserved the building’s cash reserves while reducing energy utilization by 19% and resulting in significant energy cost savings.