ARLINGTON, VA – Pepco Energy Services, a subsidiary of Pepco Holdings, Inc. (NYSE: POM) and a leader in renewable electricity initiatives in the Mid-Atlantic region, announced today that Lerner Enterprises and The Tower Companies have committed to purchasing 100% wind renewable energy credits for their premier Washington, D.C office building, Washington Square and their combined headquarters building in Bethesda, Maryland.
Under the terms of the 48-month contract, Pepco Energy Services will supply over 64 million kilowatt-hours of renewable energy certificates for the two buildings with over one million square feet. Pepco Energy Services will provide these renewable energy credits supplied by Sterling Planet, representing wind-generated resources in the United States.
Lerner Enterprises' and The Tower Companies' use of renewable energy helps to offset carbon dioxide (CO2), a key greenhouse gas, as well as sulfur dioxide (SO2) emitted into the atmosphere in the production of electricity from fossil fuels. Their commitment will prevent the emission of approximately 83 million pounds of CO2 into the atmosphere, which is equivalent to providing energy for more than 1,750 homes annually.
"Pepco Energy Services is extremely pleased to be able to provide Lerner Enterprises and The Tower Companies with energy and wind renewable energy credits well below the currently effective standard offer service rates,” said John Huffman, Chief Operating Officer of Pepco Energy Services.
According to Jeffrey S. Abramson, a partner with The Tower Companies, "this agreement demonstrates that wind renewable energy credits can also be a viable option to meet our country's energy needs through a sustainable resource and reduce air pollution and the threat of global warming at the same time. A win Wind situation!!"
The Tower Companies is Pepco Energy Services' largest commercial purchaser of green energy. Other notable organizations that have purchased green energy from Pepco Energy Services include the U.S. Department of Agriculture, the Department of Labor, the Department of Transportation, the Department of Energy and the Department of the Interior. In addition, Pepco Energy Services currently supplies 100% renewable resources to the Statue of Liberty on Liberty Island and the Ellis Island Immigration Museum on Ellis Island, as well as renewable energy credits to the U.S. Environmental Protection Agency headquarters, located in Washington, D.C.
About Pepco Energy Services
Pepco Energy Services, Inc., a wholly owned subsidiary of Pepco Holdings, Inc. (NYSE: POM), provides commercial, institutional, government and industrial customers with competitive electricity and natural gas supply, and energy efficiency services. Pepco Energy Services generates more than $1 billion of revenue annually. Visit www.pepcoenergy.com for more information.
Pepco Energy Services, Inc. is not the same company as Potomac Electric Power Company, and prices and services of Pepco Energy Services, Inc. are not set by the Public Service Commission.
Information contained in this news release may include forward-looking statements which should be considered in light of the risks inherent in the business of Pepco Holdings, Inc. and its subsidiaries, as discussed in public documents filed with the Securities and Exchange Commission.
Contact: Kim Price 703.253.1839
About the Tower Companies
Since 1947, The Tower Companies have strived to meet the unique, changing real estate needs of Greater Washington, D.C. Their socially responsible development has created environmentally conscious buildings and communities that are more than just enduring and aesthetically pleasing, but that are works of art.
Today, The Tower Companies are the 23rd largest purchaser of Green Energy in the country and purchase wind for 100% of their companies' electrical energy needs.
They are internationally recognized as authorities on Green Building Technology, setting new standards for green development in business, residential, retail and mixed-use real estate environments. Visit www.towercompanies.com for more information.
Contact: Marnie Abramson 301.984.7000
About Lerner Enterprises
Lerner Enterprises of North Bethesda, MD, founded by Theodore N. Lerner in 1952, is one of the Washington, D.C. area's largest real estate developers and is involved in all phases of office, retail and residential real estate including planning, development, construction, leasing, asset management and property management. Lerner's portfolio includes several well-known developments including: The Corporate Office Centre at Tysons II, McLean, VA; The Corporate Office Park, Mall and Hotel at Dulles Town Center, Dulles, VA; Washington Square at Connecticut Avenue and L Street, N.W., Washington, D.C.; White Flint North, North Bethesda, MD; 7799 Leesburg Pike, McLean, VA; and 20 M Street, S.E., Washington, D.C., among others. The Lerner Family has also recently been named new owners of The Washington Nationals of Major League Baseball. For more information, visit www.LernerEnterprises.com.
Contact: Jay Shankman 301.984.1500
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