Willdan Group, Inc. (WLDN) - Get Report announced today that it has been selected to design and implement the new Small Commercial Energy Efficiency Program for SDG&E customers. This three-year, $42 million program will provide energy efficiency and demand response to small businesses with peak demand of less than 20 kilowatts.
Willdan has provided energy efficiency and resource procurement programs in Southern California since 2008, including the Lodging Energy Efficiency Program, Healthcare Energy Efficiency Program, Small Business Direct Install Program, Business Energy Solutions Program, Commercial Comprehensive Audit Program, and the Multifamily Energy Savings Assistance Common Area Measures Program. This is Willdan's first award through the California Investor-Owned Utilities' new, multi-stage competitive bidding process, which aims to outsource 60% of their energy efficiency programs to third-party implementers by the end of 2022.
"Small businesses were hit the hardest by the economic effects of COVID-19," said Tom Brisbin, Willdan's CEO and Chairman. "As they start to recover, their operational costs - such as energy use and time-of-use expenses - are going to be increasingly important. By supporting energy efficiency and demand response, we can reduce energy use and costs, improving their bottom lines."
The program includes direct install, new financing vehicles tailored for very small customers, and specialized technical assistance. Unique program features include a do-it-yourself installation option, the use of a new online platform to streamline program delivery, and partnership with community-based organizations to assist hard-to-reach customers and customers located in disadvantaged communities.
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, engineering and planning, and municipal financial consulting. For additional information, visit Willdan's website at www.willdan.com.
Statements in this press release that are not purely historical, including statements regarding Willdan's intentions, hopes, beliefs, expectations, representations, projections, estimates, plans, or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that Willdan will not be able to reduce costs and preserve liquidity to maintain its operations during the continuation of this pandemic nor be able to resume its growth trajectory once pandemic-related restrictions are lifted and the economy begins to recover. 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 ultimate impact of the COVID-19 pandemic on Willdan's results, prospects, and opportunities; Willdan's ability to adequately complete projects in a timely manner; Willdan's ability to compete successfully in the highly competitive energy efficiency services market; changes in state, local, and regional economies and government budgets; Willdan's ability to win new contracts, to renew existing contracts, and to compete effectively for contract awards through bidding processes; and Willdan's ability to successfully integrate its acquisitions and execute on its growth strategy. Willdan's business could be affected by a number of other factors, including 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 27, 2019. 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.
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