BUFFALO GROVE, Ill. - Siemens Building Technologies Inc. will guarantee the Mississippi Department of Corrections (MDOC) more than $6 million in energy and operational costs under the terms of a 15-year performance contract.
The MDOC is the first state agency in Mississippi to enter into a performance contract. Such agreements typically allow a customer to purchase a systems upgrade and/or service that pays for itself over time, with no upfront costs. The savings in energy and operating costs fund the building improvements and financing costs over a specified term, and the savings are guaranteed on an annual basis.