Willdan Selected to Implement $112 Million in Energy Savings Projects for City of San Diego
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energy savings performance contractfinancial
An energy savings performance contract is a long-term agreement where an energy service company installs efficiency upgrades (like new lighting, heating or controls) and guarantees that the owner’s utility bills will drop enough to cover the work and finance costs. Think of it as hiring a contractor who pays upfront and gets repaid from the actual energy savings; for investors it creates predictable cash flow, shifts performance risk to the contractor, and can affect a property’s operating costs and credit profile.
battery energy storage systemstechnical
Large, grid-connected rechargeable battery systems that store electricity for later use, like a giant household battery for cities or power plants. They matter to investors because they help balance supply and demand, enable more renewable energy, reduce outage risk, and create revenue through services such as selling stored power at peak times or participating in grid stability programs, while requiring upfront capital and having performance limits tied to lifespan and degradation.
hvactechnical
HVAC stands for heating, ventilation and air conditioning — the systems that control temperature, airflow and indoor air quality in buildings. Investors care because HVAC drives operating costs, energy use, tenant comfort and regulatory compliance; like the engine and insulation of a building, efficient modern systems can lower bills, reduce repair and replacement spending, and preserve property value, while outdated units can create unexpected expenses and vacancy risk.
ANAHEIM, Calif.--(BUSINESS WIRE)--
Willdan Group, Inc. (NASDAQ: WLDN) announced today that it has been selected by the City of San Diego to implement a $112 million energy savings performance contract. This contract supports energy and water efficiency across 40 city facilities, decarbonizes 23 of those facilities, and upgrades 39,000 city-owned streetlight fixtures. The resulting projects will include electrification measures, battery energy storage systems, electrification for HVAC and water heating systems, and solar infrastructure.
“These projects are strategically designed to pay for themselves over time, using the money we’ll save in energy and operational costs each month,” said Lindsey Hawes, Municipal Energy Program Manager for the City of San Diego. “These efforts align with San Diego's Zero Emissions Municipal Buildings and Operations Policy and are expected to provide significant carbon reductions, improve air quality, and make these buildings more comfortable to work in.”
About the City of San Diego
The eighth-largest city in the United States, the City of San Diego has 1.4 million residents, a diverse population, the nation's largest military community, and a talented workforce. This Southern California metropolis is home to cutting-edge businesses in life sciences, genomics, biotechnology, telecommunications, Smart City technology, software, electronics, and other major innovative industries. San Diego is a top tourist destination with its warm, year-round climate, 50 miles of sun-soaked coastline, and world-famous attractions. Learn more at www.sandiego.gov.
About Willdan
Willdan is a nationwide provider of professional, technical, and consulting services to utilities, government agencies, and private industry. Willdan’s service offerings span a broad set of complementary disciplines that include electric grid solutions, energy efficiency and sustainability, energy policy planning and advisory, engineering and planning, and municipal financial consulting. For additional information, visit Willdan's website at www.willdan.com or follow Willdan on LinkedIn and Facebook.
Forward-Looking Statements
Statements in this press release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that Willdan’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors listed from time to time in Willdan’s reports filed with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K filed for the year ended December 27, 2024. Willdan cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any forward-looking statements in this press release.
