EuroSite Power to Supply Clean Energy to the World Famous Wentworth Club
Thursday September 13th 2012
WALTHAM, Mass. – September 13, 2012 – EuroSite Power Inc., 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 reached an agreement to supply clean energy to the world famous Wentworth Club in the United Kingdom. The potential revenue value of the agreement to EuroSite Power is pounds Sterling 1.75 million over the fifteen-year term.
Under the terms of agreement, the Company will install and operate a combined heat and power (CHP) system at the Club’s Tennis & Health Club, which will produce up to 100 kW of power or approximately 1.5GWh of total energy per annum, while saving up to 224 tonnes of CO2. Providing good quality CHP is supported by the UK government and the impact of the Climate Change Levy will be greatly reduced. The system will also be replacing existing standby generation at the Tennis & Health Club. Wentworth Club will receive a discount on the energy produced by the CHP system and reduce its carbon emissions from the property.
"In 2012, EuroSite Power has now booked an estimated 11 GWh of total energy per year for a potential total revenue value of approximately pounds Sterling 19.8 million over the term of the contracts," said Paul Hamblyn, Managing Director of EuroSite Power. "We are very excited that more and more customers are recognizing the value of our standard On-Site Utility solution and I am delighted to welcome Wentworth Club to our growing family of customers."
EuroSite Power will produce clean energy in the form of electricity, heating and domestic hot water for Wentworth Club’s Tennis & Health Club at a price lower than the Club’s current energy supplier. 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. The Company will also handle all service, maintenance and repair, eliminating the need to provide manpower to support the energy equipment.
Founded in 1926, Wentworth Club is a privately owned golf and country club in Virginia Water, Surrey, Near Windsor Castle; it is surrounded by the Wentworth Estate – one of the most prestigious estates on the outskirts of London. Widely known for its associations with tournament golf, the headquarters of the PGA European Tour are located at the Club and each year it hosts the Tour's flagship BMW PGA Championship.
Following the deal, the Club is also considering EuroSite Power to provide further savings to its Clubhouse.
EuroSite Power sells the energy produced from an onsite energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility customers only pay for the energy produced by the system and receive a guaranteed discount rate on the price of the energy. All system capital, installation, operating expenses and support are paid by EuroSite Power.