WALTHAM, Mass., Nov. 7, 2012 /PRNewswire/ -- EuroSite Power Inc., (OTCQB: EUSP) an On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centers in the United Kingdom (UK) and Europe, today announced that it has signed a second contract with the world famous Wentworth Club in the United Kingdom. The contract to install a combined heat and power (CHP) system for the main Clubhouse is worth 1.23 (US$1.96) million Pounds Sterling to EuroSite Power over the fifteen-year term and follows a 1.75 million Pounds Sterling contract for Wentworth's Tennis & Health Club announced in September.
Under the terms of the agreement, EuroSite Power will install and operate a CHP system at the club's Clubhouse, which will produce up to 100 kWe of power or approximately 1.34 GWh of total energy per annum, while saving up to 277 tonnes of CO2, each year. Wentworth Club will receive a discount on the energy produced by the CHP system and reduce its carbon emissions from the property.
Paul Hamblyn, Managing Director of EuroSite Power said: "We are very pleased that Wentworth Club has decided to expand its relationship with EuroSite Power. The contract brings this year's totals to bookings of an estimated 21.34 GWh of energy per year for an approximate total revenue value of 30.7 million Pounds Sterling over the term of the contracts."
EuroSite Power will produce clean energy in the form of electricity, heating and domestic hot water for Wentworth Club's Clubhouse at a price lower than the club's current and future energy suppliers. Because Wentworth Club opted for the Company's On-Site Utility solution, the club will pay only for the energy used and will avoid all capital, installation and operating costs. EuroSite Power will also handle all service, maintenance and repair, meaning the club will not need to provide manpower to support the energy equipment.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts