April 12, 2012
EuroSite Power Inc.
, an On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centers in the
, today announced that it has extended its agreement with The Ability Group by adding a contract to supply clean energy to the Doubletree by Hilton Dunblane Hydro hotel.
The hotel is amongst the finest of Scottish hotel destinations and offers breathtaking views of the Trossachs. Under the terms of the thirty-year agreement, the Company will install and operate a combined heat and power (CHP) system which will produce up to 200 kW of power or approximately 1.63 MWh of total energy per year. The Ability Group will receive a discount on the energy produced by the CHP system and reduce its carbon emissions from the property. The value of the agreement to the Company is pounds Sterling 4.1 million.
"In 2012, EuroSite Power has already booked an estimated 8.1 MWh of total energy per year for an approximate total revenue value of pounds Sterling 16.5 million over the term of the contracts," commented
, Managing Director of EuroSite Power. "We are very excited that customers have recognized the value of our standard On-Site Utility solution, as we now offer it across the UK and
EuroSite Power will produce clean energy in the form of electricity, heating and domestic hot water for both Dunblane Hydro's health and fitness center and main hotel building at a price lower than The Ability Group's current and future energy suppliers. Because The Ability Group opted for the Company's On-Site Utility solution, the hotel will pay only for the energy used and will avoid all capital, installation and operating costs. The Company will also handle all service, maintenance and repair; therefore, neither The Ability Group nor Hilton Worldwide will need to provide manpower to support the energy equipment.