ANAHEIM, Calif.--(BUSINESS WIRE)--
Willdan Group, Inc. (NASDAQ: WLDN) today announced that it has been
awarded two new master contracts to perform energy-efficiency and
water-conservation upgrades in facilities managed by the State of
California's Department of General Services (DGS). Each contract has a
$60 million ceiling over an eight-year time period. The contracts are
designed by the State of California to help achieve the energy and water
consumption goals of Executive Order B-18-12, which includes a 20%
reduction by 2020. California is the eighth state to select Willdan for
this type of energy efficiency contract vehicle.
"These new programs represent a significant opportunity to expand our
services to the State of California," said Tom Brisbin, Willdan's CEO.
"Projects under each program are expected to be assigned over the next
24 months and completed within the eight-year duration of the master
contracts. As we receive project assignments, we will have more
visibility on the timing and scope of the revenue impact of these
programs in the coming years."
One of the contracts applies to "large" DGS facilities - generally
defined as facilities with peak demand exceeding 200 kW and floor area
50,000 square feet or greater. The other applies to "small" facilities -
generally defined as facilities with peak demand below 200 kW and floor
area of less than 50,000 square feet.
Master contracts for the energy-efficiency and water-conservation
upgrades were awarded to five firms, with projects in DGS facilities to
be awarded to each firm on a rotational basis. Within each master
contract, Willdan will be called upon to provide preliminary
assessments, investment grade audits, implementation services, and
measurement & verification of energy savings for DGS facilities. Willdan
will negotiate project-level contracts for subject facilities under the
Specific scopes of work will be developed as part of project-level
contracts. Likely measures to be included in those contracts include
installation and expansion of building automation control systems;
implementation of solar and other renewable energy sources; upgrades of
lighting systems to LED; upgrades to outdated heating and air
conditioning systems; water conservation; and other cost-savings
Willdan provides professional consulting and technical services to
utilities, public agencies and private industry throughout the United
States. The Company's service offerings span a broad set of
complementary disciplines that include energy efficiency and
sustainability, engineering and planning, financial and economic
consulting, and national preparedness. Willdan provides integrated
technical solutions to extend the reach and resources of its clients,
and provides all services through its subsidiaries specialized in each
segment. For additional information, visit Willdan's website at www.willdan.com.
Statements in this press release that are not purely historical,
including statements regarding Willdan's intentions, hopes, beliefs,
expectations, representations, projections, estimates, plans or
predictions of the future are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. The
forward-looking statements involve risks and uncertainties including,
but not limited to, the risk that Willdan will not be able to expand its
services or meet the needs of customers in markets in which it operates.
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, a slowdown in the local and regional economies of the
states where Willdan conducts business and the loss of or inability to
hire additional qualified professionals. Willdan's business could be
affected by a number of other factors, including the risk factors listed
from time to time in Willdan's SEC reports including, but not limited
to, the Annual Report on Form 10-K filed for the year ended January 1,
2016. 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170908005133/en/
Willdan Group, Inc.
Financial Profiles, Inc.
Tony Rossi, 310-622-8221
Source: Willdan Group, Inc.
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