May 16, 2013: ABM Expands Its Solar Expertise with Joint Venture
ABM said the partnership will enable it to enhance its capabilities as one of the country’s leading energy service companies (ESCOs), specializing in design, installation, operations and maintenance (O&M), and financial solutions for its varied client base. It will also enhance ABM’s Bundled Energy Solutions (BES) program, which has been designed as a financial solution to meet clients’ technical facility needs and sustainability goals. ABM’s goal is to drive costs out of a client’s operating budget to allow savings to be reallocated to fund mission critical facility needs. Through the joint venture, ABM expects to become one of the largest ESCOs in the country, offering a full suite of renewable and energy efficiency services.
Building Energy is a developer; engineering, procurement, and construction (EPC) contractor; and operator of renewable energy power plants. Building Energy, like ABM, focuses on delivering comprehensive services for clients that integrate financing, EPC, O&M, and asset management throughout the solar value chain. Also similar to ABM, Building Energy self-performs the majority of its work.
“We have spent considerable effort building our energy services offering specifically around our clients’ needs, and we believe expanding our solar and distributed energy capabilities is a critical next step towards providing a comprehensive energy solution,” said Ted O’Shea, who will lead ABM’s renewables group. “We wanted to make sure that as we took this next step, we did so with a reputable partner with ample experience and expertise in the solar market. Building Energy’s service offerings are highly complementary to ABM’s, and they absolutely fit the bill as a partner that will continue to build maximum value for our clients moving forward.”
Under the joint venture, ABM clients will be able to work with two companies with significant energy services experience. In addition, both ABM and Building Energy offer strong financial capabilities.
“Through the development of a diversified pipeline of utility-scale projects in the international markets where renewable energy sources have the greatest potential, we have established a solid track-record of solar power plants,” said Fabrizio Zago, CEO of Building Energy. “Our business model is based on the direct management of the entire life-cycle of renewable power systems, from development and financial planning to construction and maintenance, guaranteeing our partners and clients the highest level of expertise and reliability.
“The joint venture with ABM is an important milestone for our company in proposing this business model in the U.S., which is a market that offers strong growth potential to players able to combine financial strength with EPC and O&M expertise.”
For more information, visit www.abm.com.
Publication date: 5/13/2013
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