ANAHEIM, Calif.--(BUSINESS WIRE)-- Willdan Group, Inc. ("Willdan") (NASDAQ: WLDN) today announced the award of a new three-year, $75 million base contract to implement Con Edison of New York's (Con Edison's) Commercial Direct Install (CDI) program across the utility's New York City and Westchester County service area. This new program replaces and expands Con Edison's Small Business Direct Install (SBDI) program, which Willdan has implemented since 2009, by increasing the size of eligible commercial customers and diversifying the program offerings. Willdan expects there to be additions to the base contract, which runs through year end 2019. The base contract does not include the Brooklyn Queens Neighborhood Program, expansions described in the proposed joint settlement rate case, or additional program focus areas.
"We thank Con Edison for entrusting Willdan again with one of their most important energy efficiency programs," said Tom Brisbin, Willdan's CEO. "Many utilities around the country are facing challenges similar to those we have overcome on the Con Edison program."
The CDI program, Con Edison's largest energy efficiency program, helps customers save energy, lower their bills, and protect the environment by providing financial incentives to identify and buy down the cost of energy efficiency measures. To support this effort, Willdan will provide full-service program implementation including outreach and direct sales to potential commercial customers, on-site energy efficiency assessments, direct implementation of energy savings measures, and subcontractor management.
With this new program, Willdan will bolster Con Edison's contribution towards achieving NY Governor Cuomo's Reforming the Energy Vision goals. The CDI program will reduce the carbon footprint of Con Edison's customers by offering expanded turnkey solutions for upgrading existing lighting, refrigeration and gas equipment and subsidize the cost of energy efficiency investments to make energy more affordable for New Yorkers.
Willdan provides professional consulting and technical services to utilities, public agencies and private industry throughout the United States. Willdan'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 continue the growth it has experienced in recent years. 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:
Willdan Group, Inc.
Chief Financial Officer
Financial Profiles, Inc.
Source: Willdan Group, Inc.