Willdan Awarded New $10 Million PG&E Public Energy Efficiency Program
Willdan Group, Inc. (NASDAQ: WLDN) has secured a $10 million contract with Pacific Gas and Electric Company (PG&E) for an energy efficiency program aimed at K-12 public schools and government buildings. The four-and-a-half-year contract is notable for integrating energy efficiency and demand-side management. This performance-based contract includes a pathway for measuring energy savings through Normalized Metered Energy Consumption (NMEC). Willdan plans to utilize its analytical tools and partnerships to enhance energy efficiency and support grid resiliency amid California's increasing wildfire risks.
- Award of a $10 million contract with PG&E for energy efficiency programs.
- Integration of energy efficiency and demand-side management in one offering.
- Utilization of proven analytics software to target high-savings customers.
- Strengthened public energy engineering experience through acquisition.
- Risks related to competition in the energy efficiency services market.
- Uncertainties due to the impact of COVID-19 on project completion and operations.
Willdan Group, Inc. (NASDAQ: WLDN) announced today that Pacific Gas and Electric Company (PG&E) has awarded a new energy efficiency program to Willdan that serves K-12 public schools and both local and federal government buildings. The four-and-a-half-year,
“We appreciate this opportunity to expand our services and customer reach in PG&E’s territory,” said Tom Brisbin, Willdan’s CEO and Chairman. “Our suite of proven analytics software – including LoadSEER, B3, and NEO – will help us cost-effectively reach the customers with the greatest savings potential and move forward with highly efficient upgrades. With the 2018 acquisition of Newcomb Anderson McCormick strengthening our California-based public energy engineering experience, we can provide customers with the technical experience they need to complete more complex projects and move toward zero net energy.”
Willdan has partnered with key community organizations and delivery partners to perform outreach. Willdan will leverage both in-house technical expertise and an open network of Trade Pros to deliver energy efficiency, demand response, energy management technologies, and to evaluate customers’ potential for distributed energy resources and electrification. The inclusion of IDSM supports grid resiliency, which has become increasingly important in light of California’s recent wildfires.
This latest contract award is one of several that Willdan received in the California Investor-Owned Utilities’ new, multi-stage competitive bidding process.
About Pacific Gas and Electric Company
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation's cleanest energy to 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.
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 www.willdan.com.
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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