Aegis Energy, EDF Group delivers energy savings to Watermark Kendall West
Cambridge, MA apartment complex purchases Aegis Combined Heat and Power system
After more than a year of realized cost-savings from an Aegis Energy, EDF Group Combined Heat and Power system, Watermark Kendall West has made an outright purchase of the system.
The Aegis ThermoPower TP75 returned a cost savings of more $55,000 in 2013 while handling 41 percent of the residential building’s thermal load and 49 percent of the electrical load.
Watermark Kendall West is located in the heart of Kendall Square, an award winning neighborhood marketed as a global center for innovation and cutting edge technology next to MIT. It is a modern full-service high rise apartment situated on the banks of the Charles River.
The Watermark Kendall West cogen system was installed as part of Aegis’ innovative Shared Savings Program with Aegis absorbing the initial cost of design, engineering, and installation.
Through an agreement for sharing the energy savings with the host site, Aegis is able to amortize the capital and operating cost of the equipment and offer the option to sell the system to the site at any given point during the contract.
Watermark Kendall West took advantage of the option to purchase the equipment outright.
“The CHP installation at the high-rise Watermark Kendall West apartment building in Cambridge, MA was our first project with Aegis,” said Kevin Stubbs of Watermark. “And, although we initially decided to enter into a shared savings agreement, it was clear after analyzing the energy and cost savings results after eight months, that purchasing the CHP system was going to provide long-term benefits to the property ownership and its residents.”
Founded in 1985, Aegis Energy, EDF Group is a full service Combined Heat and Power developer that manufactures and installs modular systems to reduce both energy costs and emissions for a variety of facilities, from healthcare and assisted living facilities, to recreational and multi-residential complexes, and hotels. There are also institutional, educational, and industrial facility applications.
Combined Heat and Power (CHP), also known as cogeneration, is an efficient, clean, and reliable technology, which simultaneously generates electricity and thermal energy from a
single fuel source.