Jane Edwards
Financial services firm Bostonia Group has provided $64 million in funds to support two Energy Savings Performance Contracts awarded to Honeywell.
Bostonia said Honeywell’s building solutions business will get $33 million in funds to update heating, ventilation and airconditioning systems and lighting and water fixtures as well as perform chiller replacement work at courthouses and federal facilities in Los Angeles under the first ESPC contract.
Honeywell will carry out work at the General Services Administration-run federal buildings in Los Angeles as part of GSA’s Deep Retrofit initiative and is scheduled to complete work in September 2017.
Bostonia noted that it also provided $31 million to fund the second ESPC that calls for Honeywell to provide energy conservation support to the Army Corps of Engineers.
Work under this contract will run through August 2018 and includes updates to plumbing fixtures, blast booths, chiller systems, building envelopes, utility monitoring and control systems as well as elimination of stream heating structures at the Tobyhanna Army Depot in Pennsylvania.
Bostonia provided the funds through a securitization of the energy savings’ cash flow.
