Montclair State University and Energenic-US, LLC announced today a major public-private construction project, launched under the 2009 New Jersey Economic Stimulus Act, to develop a new combined heating, cooling, and power (CHCP) system for the Montclair State campus. This innovative project will create hundreds of new jobs for New Jersey workers and produce more environmentally responsible energy services for the University.
The CHCP project will be developed by Energenic-US, LLC, a long-term partnership between DCO Energy LLC and Marina Energy LLC, which is a subsidiary of South Jersey Industries (NYSE: SJI).
This $90 million public-private partnership – the second for Montclair State and only the third statewide – will enable the University to replace its current heating and cooling system without construction funding being required of either the University or the state of New Jersey. The new state-of-the-art facility and its related infrastructure improvements will replace the campus’ existing energy plant, which began generating steam in the 1940s and providing electricity as a co-generation plant in 1993. The project’s development will result in more cost-effective, efficient, and reliable delivery of heating, cooling, and electrical services to campus buildings.
“Montclair State continues to demonstrate initiative in utilizing public-private partnerships to finance both facility expansions and infrastructure improvements,” said Montclair State University President Susan A. Cole. “The new CHCP plant is not only an example of the University’s entrepreneurial management of its scarce financial resources, it also reflects our campus-wide commitment to environmental conservation and alternative energy.”“This project is a win-win-win – a win for Montclair State, a win for its students, and a win for the environment,” said Frank E. DiCola, Energenic’s chief executive officer. “The students of Montclair State will benefit from safe, reliable, and clean steam heat for buildings and personal use, in a more efficient and environmentally friendly way. The University should be commended for their foresight in providing students and faculty with a cleaner and more efficient power source,” explained DiCola.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV