This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Willdan Awarded $4.6 Million Contract For Energy Upgrade Los Angeles – Commercial Initiative

Stocks in this article: WLDN

Willdan Group, Inc. (“Willdan”) (NASDAQ:WLDN) today announced that its wholly-owned subsidiary, Willdan Energy Solutions, was awarded a contract for up to $4.6 million as program administrator for the Energy Upgrade Los Angeles - Commercial Initiative. The program incentivizes private financing of comprehensive energy and water system upgrades for Los Angeles commercial buildings while contributing to local job creation. This innovative program, launched by the Community Redevelopment Agency of the City of Los Angeles in partnership with the Clinton Climate Initiative, will commence in the second quarter of 2011 and will be completed by March 2012, with an option to extend for another year.

“This is an exciting opportunity to do what we do best, as energy efficiency and sustainability experts, at a scale that we anticipate will remove approximately 39,720 tons of carbon emissions per year,” said WES President Jay Bhalla. “That is tantamount to taking 7,065 cars off the road. It’s a real impact.”

The Energy Upgrade initiative will offer free assessments of savings opportunities, facilitate access to utility incentives and rebates, introduce property owners to retrofit lenders and investors and provide access to a debt-service reserve fund to encourage early adoption. The program will use a new financing vehicle for commercial property owners called PACE, Property-Assessed Clean Energy, which is an “owner-arranged” tax-lien financing model. Individual property owners may negotiate financing from commercial lenders on the terms, scale and schedule that best suit their project, and repay the financing through a contractual assessment on the building’s property tax bill.

The initiative is part of the California Energy Commission’s Energy Upgrade California program, a statewide effort to roll out aggressive utility-incentive packages, pilot innovative financing approaches, and establish a statewide web-based platform that connects users to localized information about all of the relevant available incentives, resources and financing opportunities.

“A clear and effective road map coupled with a competent and tested team is critical to successful program implementation,” Bhalla said. “We look forward to leveraging our expertise alongside our fellow team members in support of CRA/LA’s Energy Upgrade Los Angeles, reducing Los Angeles’ carbon footprint while helping local businesses grow and prosper. This is a win-win, for Willdan, residents and businesses of the City of Los Angeles and the entire Southern California region.”

About Willdan Energy Solutions

WES is one of the nation's preeminent providers of specialized energy, water, and resource management services to a growing list of clients that includes utilities, local and federal governments, hospitals, schools and private enterprises. WES's portfolio of services includes marketing and engineering, program management and implementation of energy efficiency and water conservation programs and development and implementation of information systems for the energy industry. WES's expertise also covers hardware retrofits, commissioning and retro-commissioning, demonstrations of new technologies, energy efficiency education/outreach, sustainability strategy and local government partnerships.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs