ANAHEIM, Calif.--(BUSINESS WIRE)--
Willdan Group, Inc. (NASDAQ: WLDN) announced today that it has been selected by Central Hudson Gas & Electric Corporation (Central Hudson) and National Grid to continue implementing two long-standing Upstate New York Small Business Services Programs. Through these three-year contracts, Willdan projects to provide more than 150,000 MWh in combined energy savings to New York small businesses.
Central Hudson’s small business program will deliver 53,250 MWh in energy savings over the three-year contract extension that began in January of this year, doubling the savings goal of Willdan’s prior contract, and will serve an estimated 2,000 small businesses. Willdan has implemented this program since 2012. In September 2018, Willdan expanded outreach to include Targeted Demand Management services that offset the need for infrastructure upgrades in specific areas of Central Hudson’s grid, and has delivered more than 2,500 kW of peak load reduction to date.
National Grid has historically engaged implementers on its behalf to serve discrete regions in upstate New York. Willdan’s three-year, pay-for-performance contract with National Grid has an annual savings goal of 34,000 MWh and allows Willdan to provide turnkey energy services to small businesses across National Grid’s upstate New York territory as the program’s primary implementer. The contract represents an increase in value over prior years, tripling the savings goal, as well as nearly tripling the customers and territory Willdan will serve. Willdan is working with National Grid to expand service offerings from lighting and refrigeration measures to gas measures such as simple hot water conservation equipment and more comprehensive HVAC tune-ups and upgrades.
About Central Hudson Gas & Electric Corporation
Central Hudson Gas & Electric Corporation (Central Hudson) is a regulated transmission and distribution utility serving approximately 309,000 electric customers and 84,000 natural gas customers in a defined service territory of New York State’s Mid-Hudson River Valley. Central Hudson delivers natural gas and electricity in a defined service territory that extends from the suburbs of metropolitan New York City north to the Capital District at Albany. For more information, visit .
About National Grid
National Grid is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through its networks in New York, Massachusetts, and Rhode Island. National Grid is transforming electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions. For more information, please visit or follow National Grid on , , , and .
About Willdan
Willdan is a nationwide provider of professional technical and consulting services to utilities, government agencies, and private industry. Willdan’s service offerings span a broad set of complementary disciplines that include electric grid solutions, energy efficiency and sustainability, engineering and planning, and municipal financial consulting. For additional information, visit Willdan's website at .
Forward-Looking Statements
Statements in this press release that are not purely historical, including statements regarding Willdan’s intentions, hopes, beliefs, expectations, representations, projections, estimates, plans, or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that Willdan will not be able to reduce costs and preserve liquidity to maintain its operations during the continuation of this pandemic nor be able to resume its growth trajectory once pandemic-related restrictions are lifted and the economy begins to recover. It is important to note that Willdan’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the ultimate impact of the COVID-19 pandemic on Willdan’s results, prospects, and opportunities; Willdan’s ability to adequately complete projects in a timely manner; Willdan’s ability to compete successfully in the highly competitive energy efficiency services market; changes in state, local, and regional economies and government budgets; Willdan’s ability to win new contracts, to renew existing contracts, and to compete effectively for contract awards through bidding processes; and Willdan’s ability to successfully integrate its acquisitions and execute on its growth strategy. Willdan’s business could be affected by a number of other factors, including the risk factors listed from time to time in Willdan’s reports filed with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K filed for the year ended December 27, 2019. Willdan cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any forward-looking statements in this press release.
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