Willdan Group, Inc. (WLDN) - Get Report announced today that it has been selected by Xcel Energy and CenterPoint Energy, Inc. to continue implementing the Energy Design Assistance (EDA) Program serving Minnesota, building on 25 consecutive years implementing this program. This latest contract is valued at $10 million over four years. The EDA program provides commercial building owners within Xcel Energy and CenterPoint Energy, Inc.'s service territory with energy expertise to encourage energy-efficient building design and construction. The program uses Willdan's real-time energy modeling software, Net Energy Optimizer (NEO), to allow project teams to visualize the effects of energy efficiency measures during collaborative stakeholder meetings.
"Xcel Energy is leading the clean energy transition with a goal to reduce carbon emissions 80 percent by 2030, and a vision to provide customers with 100 percent carbon-free electricity by 2050," said Kris Kohls, Product Manager of Xcel Energy. "Helping our customers become more energy efficient is one of the ways we'll reach our goal and vision, and we look forward to continuing our work with the Willdan Group on the Energy Design Assistance Program."
"The Weidt Group (now Willdan), which we acquired in March 2019, has supported EDA for Xcel Energy and CenterPoint Energy for over 25 years," said Tom Brisbin, Willdan's CEO and Chairman. "And now, as part of Willdan, we are pleased to build upon their existing relationship with these utilities, offering innovative processes and tools to optimize energy efficiency at these buildings and bring Xcel Energy and CenterPoint Energy closer to their decarbonization goals."
Willdan was originally involved in the EDA program as a subcontractor in 1988, assisted in the program's development, and was awarded the program as implementer in 1993. The program serves new commercial construction, additions, and major renovations over 20,000 square feet. Willdan has served more than 900 buildings through this program to date, delivering 23 million therms and 550 million kWh in annual savings.
About Xcel Energy
Xcel Energy (XEL) - Get Report provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow Xcel Energy on Twitter and Facebook.
About CenterPoint Energy, Inc.
CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in more than 30 states. Through its electric transmission and distribution, power generation, and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma, and Texas. CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit www.centerpointenergy.com.
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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