The agreement is part of Covenant’s expansion plans, which include a new central utility plant estimated to cost $12 million. The plant, to be centrally located on the main campus, will include chillers, boilers, a thermal storage system, and associated pumps, controls, and towers.
“Our team proposed that we build, own, operate, and maintain the plant for Covenant as a way to reduce their capital expenditures,” said Vance Tang, vice president, Trane Asset Management Services. “Covenant can use funds from their operating budget to pay for the cold water and steam.”
Publication date: 05/07/2001