Willdan Selected for $46 Million Energy Savings Contract for Nation’s 5th Largest School District

Rhea-AI Summary

Willdan Group, Inc. (WLDN) secures a $46 million energy savings contract with the Clark County School District, aiming to enhance energy efficiency and reduce costs. The project is set to transform Nevada's learning environment over the next decade, with expected annual savings of over $2 million in energy costs and $360,000 in operational costs.

Insights

Energy Market Analyst

From an energy market perspective, the contract between Willdan Group, Inc. and Clark County School District represents a significant investment in energy efficiency, which is a growing segment of the market. The projected annual savings of over $2 million in energy costs and $360,000 in operational costs are substantial figures that indicate a strong return on investment for the school district. This could potentially lead to similar contracts for Willdan, boosting its market presence and revenue streams. Additionally, the focus on advanced lighting and controls is in line with industry trends towards IoT and smart infrastructure, which are increasingly sought after for their cost-saving and environmental benefits.

Educational Consultant

The educational implications of the Willdan and Clark County School District contract are noteworthy. The integration of STEM (Science, Technology, Engineering and Mathematics) elements into the learning environment through this project can enhance educational outcomes by providing practical, real-world applications of classroom concepts. Furthermore, the community engagement component can foster a greater understanding of sustainability and energy conservation among students and faculty, which has long-term societal benefits. Such initiatives can also position the district as a leader in educational innovation, potentially attracting more students and funding.

Sustainability Expert

From a sustainability standpoint, the contract's emphasis on decarbonization and energy-efficient technologies aligns with global efforts to reduce carbon footprints and combat climate change. The project's expected transformation of the learning environment over the next decade underscores a commitment to long-term sustainability goals. The local economy could also benefit from the use of prequalified local expertise, fostering job creation and skill development in the green technology sector. Such projects can serve as a blueprint for other districts and organizations looking to make similar energy-efficient upgrades.

ANAHEIM, Calif.--(BUSINESS WIRE)-- Willdan Group, Inc. (NASDAQ: WLDN) announced today that Clark County School District – the fifth largest school district in the United States – has selected Willdan to design, implement, and maintain advanced lighting and controls upgrades. This $46 million energy savings contract focuses on energy efficiency projects and is expected to transform Nevada’s learning environment over the next 10 years.

Combined, these projects are expected to reduce the District’s energy costs by over $2 million and operational costs by more than $360,000 annually. Willdan will also lead ongoing student, faculty, and community engagement to promote awareness around energy efficiency, utility conservation, decarbonization, and the benefits of these approaches.

“These projects will benefit the local economy and some of the youngest Clark County residents,” said Mike Bieber, Willdan’s CEO. “We’ve prequalified local expertise to support the District’s scope. We’re excited to use these projects to showcase STEM in action and to help the community experience the benefits of energy-efficient technologies first-hand.”

About Clark County School District

The Clark County School District (CCSD) educates 300,000 southern Nevada children. As the fifth largest district in the United States, the Clark County School District includes a variety of urban and rural settings in the most populous region of Nevada. With nationally recognized Magnet Schools and Career & Technical Academies, an online secondary school, and several International Baccalaureate programs for K-12 students, CCSD offers many exciting choices for families and, as the largest employer in Nevada, many career opportunities for its employees and community.

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 30, 2022. 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/20240229578311/en/

Al Kaschalk

Vice President

310-922-5643

akaschalk@willdan.com

Source: Willdan Group, Inc.

FAQ

What is the contract value of the project announced by Willdan Group, Inc. with the Clark County School District?

The contract value is $46 million.

What are the expected annual savings in energy costs for the Clark County School District as a result of the project?

The District is expected to save over $2 million annually in energy costs.

Who will lead the ongoing student, faculty, and community engagement for the energy efficiency projects?

Willdan Group, Inc. will lead the engagement efforts.

What is the CEO's name of Willdan Group, Inc.?

Mike Bieber is the CEO of Willdan Group, Inc.

What is the ticker symbol for Willdan Group, Inc.?

The ticker symbol is WLDN.