Willdan Awarded $22.3 Million Contract Modification with Con Edison

Aug 7, 2014 | Press Release

ANAHEIM, Calif.--(BUSINESS WIRE)-- Willdan Group, Inc. ("Willdan")(NASDAQ: WLDN) today announced that its wholly owned subsidiary Willdan Energy Solutions has been awarded a $22.3 million contract modification from Con Edison that expands an existing Small Business Direct Install (SBDI) contract to a total value of $61.3 million. Under the modification, Willdan Energy Solutions is expanding its current SBDI services to include Con Edison small business customers in Manhattan, Staten Island and Westchester County, N.Y.

Work under the current Con Edison SBDI program began in the third quarter of 2012, with Willdan Energy Solutions providing services initially in the Bronx, Brooklyn, and Queens. Willdan Energy Solutions is now responsible for the entire Con Edison SBDI service territory, providing outreach to small businesses, completing on-site energy efficiency surveys, implementing energy-saving projects, and partnering with the community and local businesses. Willdan Energy Solutions performed the previous SBDI contract with Con Edison from 2009-2012.

"We believe this revised contract shows Con Edison's confidence in Willdan Energy Solutions' proven ability to achieve their small business energy reduction goals," said Willdan Energy Solutions President and CEO Thomas Kouris. "Our success in performing quality services for Con Edison has been a collective team effort involving more than 100 staff members focused on customer service and energy savings."

The SBDI program is one of numerous Con Edison energy efficiency programs designed by Con Edison to help the State of New York reach its energy and greenhouse gas emission reduction goals. It offers small business customers free energy surveys and pays up to 70 percent of the installed cost for most energy-saving measures. Since 2009, more than 25,000 Con Edison small business customers have received energy efficient product installations through Willdan Energy Solutions' contracts, resulting in more than 319 million kWh in savings. According to the U.S. Environmental Protection Agency's Greenhouse Gas Equivalency Calculator, that's the equivalent of keeping the annual carbon dioxide emissions from the electrical use of 30,000 homes out of the air.

About Willdan Energy Solutions
Willdan develops and implements comprehensive energy solutions nationwide for utilities, commercial entities, and all levels of government. We help our clients realize cost and energy savings by tailoring solutions that serve vertical markets such as data centers, healthcare, lodging, and schools; providing energy reduction plans for large end-user commercial facilities and multi-family residences; and developing and implementing cutting-edge, cost-effective measures for small businesses. Our highly experienced staff works as independent representatives for our clients to deliver the following services:

  • Expert analysis of energy consumption
  • Identification and implementation of financial strategies, including review of incentives/rebates/grants, tax incentives, low-interest funding sources, and performance contracting alternatives
  • Tailored engineering approaches that help customers achieve their energy goals including site surveys, building system upgrades/recommendations, master planning, and incorporation of renewables
  • Direct installation and oversight of implementation that ensure proper application of recommended measures
  • Measurement and verification to track and demonstrate long term results of energy solutions
  • Project and program management by highly experienced and credentialed technical staff from conceptual design all the way through full project implementation

About Willdan Group, Inc.
Celebrating its 50th year of business, Willdan provides outsourced professional technical and consulting services to public agencies, public and private utilities, and commercial and industrial firms throughout the United States. Willdan benefits from well-established relationships, industry-leading expertise and a solid reputation for delivering projects on time and on budget. The company's service offerings span a broad set of complementary disciplines that include engineering and planning, energy efficiency and sustainability, financial and economic consulting, and national preparedness. Willdan has crafted this set of integrated services so that, in the face of an evolving environment—whether economic, natural, or built—Willdan can continue to provide services that are innovative, comprehensive, and trusted. For additional information, visit Willdan's website at www.willdan.com.

Forward-Looking Statements
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 improve its profitability in 2014. 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 December 27, 2013. 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.
Stacy McLaughlin
Chief Financial Officer
Tel: 714-940-6300
Investor/Media Contact
Moira Conlon
Financial Profiles, Inc.
Tel: 310-478-2700 x220

Source: Willdan Group, Inc.