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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: Millennium Broadway

Building type
Commercial

Building size
1 building
457,300 square feet
750 rooms

Year built
1988

Location
New York, NY

Project type
Cogeneration and energy efficiency

Upgrades
HVAC

NYCEEC loan product
PPA

Term
8.5 years

Closing date
March 2013

The Project

The Millennium Broadway is a large business and tourist-oriented hotel in the Theater District. The hotel wanted to install a new cogeneration system and other HVAC-related efficiency measures.

Total Project Cost

$7.8 M

Incentives

$1 M

NYCEEC Loan

$6 M

The Results

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