ANAHEIM, Calif.—(BUSINESS WIRE)—Willdan Group, Inc. (NASDAQ: WLDN) today announced that it is has been selected as one of the vendors for the Public Service Electric and Gas Company (PSE&G) Energy $aver (Direct Install) Program for Government, Non-Profit, and Small Business Facilities. This program has a budget of $15 million over three years and provides direct install services throughout PSE&G’s service territory. Willdan will serve northern New Jersey’s densely populated Bergen, Passaic, and Hudson counties.
“Willdan is pleased to expand our role in New Jersey with this new program award, applying our expertise in direct install programs to additional markets such as municipalities and non-profits,” said Tom Brisbin, Willdan’s CEO. “We thank PSE&G for this opportunity.”
This program targets energy savings in government, non-profit, and small businesses in Urban Enterprise Zones with peak demands up to 200kW. It also funds 70% of project costs and provides on-bill financing to eligible customers as needed.
Willdan has also worked with PSE&G since 2012 to identify energy savings through investment grade energy audits to New Jersey healthcare facilities. Under this program, Willdan will lead customer outreach and provide on-site energy audits, energy analysis, and direct install services for energy-saving measures such as more efficient lighting, HVAC, refrigeration, and controls, at no cost to the customer.
Public Service Electric and Gas Company (PSE&G) is New Jersey’s oldest and largest regulated gas and electric delivery utility, serving nearly three-quarters of the state’s population. PSE&G is the winner of the ReliabilityOne Award for superior electric system reliability. PSE&G is a subsidiary of Public Service Enterprise Group Incorporated (PSEG) (NYSE:PEG), a diversified energy company. Visit PSEG at www.pseg.com, Facebook, or follow PSEG on Twitter @PSEGdelivers.
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, Willdan’s ability to adequately complete projects in a timely manner, Willdan’s ability to compete successfully in the highly competitive energy efficiency services market, changes in state, local, and regional economies and government budgets, Willdan’s ability to win new contracts, to renew existing contracts (including with its two primary customers) and to compete effectively for contract awards through bidding processes and Willdan’s ability to successfully integrate its acquisitions and execute on its growth strategy. Willdan’s business could be affected by a number of other factors, including 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 29, 2017. 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.
Willdan Group, Inc.
Chief Financial Officer
Financial Profiles, Inc.
Tony Rossi, 310-622-8221