Willdan’s Subsidiary, Lime Energy, Wins $18 Million Contract to Support Glendale Water & Power’s Clean Energy Transformation
Willdan Group, Inc. (NASDAQ: WLDN) has secured an $18 million contract from Glendale Water & Power (GWP) for a seven-year project aimed at promoting clean energy in Glendale, California. The deal will enable Lime Energy, Willdan's subsidiary, to deliver approximately 36,500 MWh in energy savings through various energy-efficient upgrades and services for local businesses. This initiative aligns with GWP's sustainability goals, enabling both commercial and industrial customers to reduce their energy consumption significantly.
- Awarded an $18 million, seven-year contract from Glendale Water & Power, enhancing revenue potential.
- Expected delivery of 36,500 MWh in energy savings through energy efficiency upgrades.
- Supports GWP's transition to a clean energy future, aligning with government and utility sustainability objectives.
- None.
Willdan Group, Inc. (NASDAQ: WLDN) announced today that Glendale Water & Power (GWP) has awarded Lime Energy, Willdan’s wholly owned direct install subsidiary, an
“We are committed to accelerating and ramping up our sustainability efforts by providing a turnkey upgrade program for our commercial and industrial business customers,” said John Takhtalian, Interim General Manager of GWP. “This program helps our customers meet their energy efficiency goals and helps GWP take more steps toward a clean energy future.”
“We’re proud to be a part of Glendale Water & Power’s cutting-edge approach to clean energy and to offer sustainability and engineering expertise that directly benefits commercial and industrial customers in the City of Glendale,” said Tom Brisbin, Willdan’s CEO and Chairman. “This opportunity leverages the capabilities we’ve assembled over the last several years, including streamlined energy efficiency across small and large businesses, energy engineering, and expertise implementing turnkey solutions to achieve decarbonization goals.”
About Glendale Water & Power
Glendale Water & Power is the City of Glendale’s water and electric utility. It provides water to 34,091 customers in Glendale, California. The city-owned utility also generates, transmits, and distributes electricity to 88,849 residential, commercial, and industrial customers. For more information, visit www.GlendaleWaterAndPower.com or follow GWP on Facebook and Twitter.
About Lime Energy and Willdan
Lime Energy is Willdan’s wholly owned subsidiary and specializes in the design and implementation of direct install energy efficiency programs for utilities. 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 January 1, 2021. 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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FAQ
What is the significance of Willdan's $18 million contract with Glendale Water & Power?
How much energy savings is expected from the Lime Energy project in Glendale?
What are the main goals of the contract awarded to Willdan by GWP?
Which company is involved in the energy efficiency program for Glendale Water & Power?
How does the partnership benefit Glendale Water & Power?
