E3, a Willdan Company, to Create a Plan for Pasadena to Source Carbon-Free Electricity

Rhea-AI Summary

Willdan Group, Inc. (NASDAQ: WLDN) announced that its subsidiary, Energy + Environmental Economics (E3), has been chosen by Pasadena Water and Power to develop an Optimized Strategic Plan for sourcing carbon-free electricity. The plan aims to help Pasadena achieve its goal of 100% carbon-free electricity by 2030.

E3 will explore various options, including distributed energy resources, renewables, storage, and emerging technologies, to create a balanced plan that addresses Pasadena's carbon goals while ensuring reliability and cost-effectiveness. This project highlights the growing demand for E3's expertise in developing climate action plans as more cities establish ambitious climate goals.

Positive

• E3, a Willdan subsidiary, secured a contract with Pasadena Water and Power
• The project aligns with growing demand for climate action planning services
• Opportunity for Willdan to showcase expertise in decarbonization strategies

Negative

• None.

ANAHEIM, Calif.--(BUSINESS WIRE)-- Willdan Group, Inc. (NASDAQ: WLDN) announced today that Energy + Environmental Economics (E3), Willdan’s wholly owned subsidiary, has been selected by the City of Pasadena’s community-owned utility Pasadena Water and Power to develop an Optimized Strategic Plan for sourcing carbon-free electricity. The City has set a goal to secure 100% of its electricity from carbon-free sources by 2030. E3 will work closely with Pasadena Water and Power and the City to explore a wide range of options, including distributed energy resources, renewables, storage, and emerging technologies. These options will be incorporated into a cohesive plan that balances Pasadena’s carbon goals with reliability and cost-effectiveness.

“The City of Pasadena’s goal is one of the most ambitious clean energy targets in the state,” said David Reyes, Acting General Manager of Pasadena Water and Power. “As we approach 2030, the urgency of this planning effort is very real for us. E3’s services will help us navigate a path to a carbon-free future that is affordable, equitable, and reliable for our community.”

“As more cities establish climate goals, E3’s expertise in developing climate action plans, and in understanding the options and implications for the power sector, is becoming more essential,” said Mike Bieber, Willdan’s CEO. “This opportunity reflects a natural transition in our work as clients move beyond long-term studies to take concrete, near-term steps toward decarbonization. Willdan thanks the City of Pasadena for this opportunity.”

About Pasadena Water and Power

Pasadena Water and Power, a community-owned utility, is a not-for-profit public service owned and operated by the City of Pasadena for the benefit of its customers and the community. The utility’s priorities are reliability, responsiveness to customers, reasonable rates, and environmental stewardship. Pasadena Water and Power provides electricity to more than 65,000 customers within Pasadena and delivers water to almost 38,000 households and businesses in Pasadena and adjacent communities in the San Gabriel Valley.

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, energy policy planning and advisory, engineering and planning, and municipal financial consulting. For additional information, visit Willdan's website at www.willdan.com.

Forward-Looking Statements

Statements in this press release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 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 29, 2023. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240715303387/en/

Al Kaschalk

Vice President

310-922-5643

akaschalk@willdan.com

Source: Willdan Group, Inc.

FAQ

What is the goal of Pasadena's carbon-free electricity plan?

Pasadena aims to source 100% of its electricity from carbon-free sources by 2030.

Which Willdan subsidiary is developing the strategic plan for Pasadena?

Energy + Environmental Economics (E3), a wholly owned subsidiary of Willdan, is developing the Optimized Strategic Plan for Pasadena.

What options will E3 explore in developing Pasadena's carbon-free electricity plan?

E3 will explore distributed energy resources, renewables, storage, and emerging technologies to create a balanced plan for Pasadena.

How does this project reflect the trend in Willdan's work?

The project reflects a transition from long-term studies to concrete, near-term steps toward decarbonization for Willdan's clients.