ABM, a leading provider of facility solutions, today announced a joint venture between ABM Government Services and Building Energy an Italian-based independent power producer to provide solar energy services to large-scale commercial and tility-scale solar power markets.
The venture will bring the significant experience and financial capabilities of two of the energy industrys leaders to ABMs existing 20,000+ clients. ABMs energy businesses and Building Energy have collectively generated over $1 Billion in energy services revenue over the last five years.
The partnership will enable ABM to build on its reputation as one of the countrys leading energy service companies (ESCO), specializing in design, installation, operations and maintenance (O&M), and unique financial solutions for its varied client base. It will also enhance ABMs Bundled Energy Solutions (BES) program, which has been designed as a financial solution to meet clients technical facility needs and sustainability goals.
For ABM, the goal is to drive costs out of a clients operating budget to allow savings to be reallocated to fund mission critical facility needs. Through the joint venture, ABM expects to become one of the largest ESCOs in the country, offering a full suite of renewable and energy efficiency services.
Building Energy S.p.A. is a world-class developer, EPC contractor and operator of renewable energy power plants. Building Energy was awarded the 2012 European, Middle East and Africa (EMEA) Project Finance Best Sustainability Deal of the Year award for its work developing, designing and building an 81 MW project in Kathu, South Africa.
Building Energy, much like ABM, focuses on delivering a comprehensive business model for clients that fully integrates financing, EPC, O&M and asset management services throughout the solar value chain. Also similar to ABM, Building Energy self-performs the majority of its work.
We have spent considerable effort building our energy services offering specifically around our clients needs, and we believe expanding our solar and distributed energy capabilities is a critical next step towards providing a comprehensive energy solution, said Ted OShea, who will lead ABMs renewables group. We wanted to make sure that as we took this next step, we did so with a reputable partner with ample experience and expertise in the solar market. Building Energys service offerings are highly complementary to ABMs, and they absolutely fit the bill as a partner that will continue to build maximum value for our clients moving forward.
Under the joint venture, ABM clients will have the advantage of working with two companies with significant energy services experience as ABM and Building Energy have collectively installed over 250 MWs of solar EPC, along with currently operating and maintaining over 200 MWs of solar facilities in five countries.
Additionally, both ABM and Building Energy have strong financial capabilities and acumen, with both companies having successfully created financial strategies to help clients spend their energy dollars more wisely.
Through the development of a diversified pipeline of utility-scale projects in the international markets where renewable energy sources have the greatest potential, we have established a solid track-record of solar power plants, said Fabrizio Zago, CEO of Building Energy. Our business model is based on the direct management of the entire life-cycle of renewable power systems, from development and financial planning to construction and maintenance, guaranteeing our partners and clients the highest level of expertise and reliability.
The joint venture with ABM is an important milestone for our company in proposing this business model in the US, which is a market that offers strong growth potential to players able to combine financial strength with EPC and O&M expertise.
