EuroSite Power Providing Savings to DoubleTree by Hilton
Four Sites For Ability Group Now Operating With Zero Capital Outlay
Thursday April 18th 2013
LONDON, UK – April 17, 2013 – 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, is now operating a combined heat and power (CHP) system supplying clean energy to DoubleTree by Hilton, Cambridge, UK.
The site is the fourth of five sites under contract to EuroSite Power. Of the five sites covered by the thirty-year agreement, the Hilton Liverpool began operating in July 2012 followed by the Hampton by Hilton, Luton Airport, in November and then Hilton London Syon Park, a Waldorf Astoria Hotel, in January 2013.
The four CHP systems so far commissioned are now set to produce approximately 4.8 GW of total energy per year. The Ability Group receives a discount on the energy produced by the CHP systems and reduces its carbon emissions from each property.
A spokesperson for The Ability Group said: “EuroSite Power’s approach requires no capital investment and guarantees us a saving, whatever happens to energy prices in the future.”
EuroSite Power will produce clean energy in the form of electricity, heating and domestic hot water for each hotel at a price lower than The Ability Group’s previous and future energy suppliers. Because The Ability Group opted for the company’s On-Site Utility solution, each hotel pays only for the energy used and avoids all capital, installation and operating costs. EuroSite Power also handles all service, maintenance and repair meaning neither The Ability Group nor Hilton Worldwide need to provide manpower to support the energy equipment.
The CHP systems now operating at the four properties are expected to reduce the emissions by 502 tons of carbon dioxide each year and, because good quality CHP is supported by the UK Government, the impact of the Climate Change Levy and CRC energy efficiency scheme are greatly reduced. The CRC is a mandatory scheme aimed at improving energy efficiency and cutting emissions in large public and private sector organizations in the UK.
Paul Hamblyn, Managing Director of EuroSite Power, said: “We are pleased to announce the fourth of the CHP systems being provided to the Ability Group under this contract has been successfully commissioned. This latest installation brings the total capacity of On-Site Utility systems in operation to 2.4 MW.”