Deal Spotlight
PPA Financing for Cogeneration and Efficiency Measures in Manhattan Hotel
0
%
Projected energy savings
0
%
Projected GHG savings
0
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.