Under the terms of the contract, GCP will develop, construct, own and operate a highly efficient 1.2MW combined heat and power (CHP) plant to serve the electricity needs of the St. Barnabas campus in New York, US.
The new CHP Plant will replace the hospital’s existing oil-fired boiler plant and provide all the heating and cooling needs of the both the centers.
Funding for the plant will be obtained from Green Campus Partners under a 20-year utility service agreement with the hospital and continuing care center.
Under this agreement, the hospital and continuing care center will purchase lower cost electricity and steam from the plant while reducing their current utility costs by about $2m per year.
The plant is targeted for completion and commissioning during the third quarter of 2013.
