NStar Electric and Boston Properties have reached a three-year pact to complete energy upgrades at several of the firm’s facilities in Greater Boston.
Thomas Grillo
Real Estate Editor- Boston Business Journal
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On the heels of their energy efficiency partnership at the iconic Prudential Center, NStar Electric and Boston Properties have reached a three-year pact to complete similar upgrade projects at several of the firm’s other facilities in Greater Boston.
The partnership is the first of its type that NStar, a Northeast Utilities company (NYSE: NU), has entered into with a commercial real estate development firm as the energy company expands its delivery of efficiency opportunities throughout the industry. Boston Properties (NYSE: BXP), which owns 43 properties in Greater Boston, said they are committed to dramatically reducing energy use at its buildings.
“Our experience at Prudential Center illustrated how proactive energy solutions could have a significant impact, both financially and environmentally,” said Bryan Koop, regional manager for Boston Properties, in a statement.
Through the new multi-year plan and its aggressive energy-savings goals, Boston Properties said it will reduce overall operating expenses for the company and its customers by lowering energy costs; enhance customer comfort through improved lighting, heating and cooling systems; and be at the “forefront of an energy revolution in Massachusetts that has led to the commonwealth being rated number one in energy efficiency for the past two years.”
The companies are expecting the efficiency improvements to yield average electricity savings of more than four million kilowatt-hours annually for Boston Properties and its customers. The resulting cut in greenhouse gas emissions will be equivalent to taking nearly 600 cars off the road annually.
For more information about NStar’s energy efficiency programs for businesses check out http://www.nstar.com/business/energy_efficiency/electric_programs/.
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