Plan to build on success and enhance energy efficiency benefits
NEW BRUNSWICK, NJ and LOWELL, MA. - Jan. 17, 2017 - TRC Companies Inc. (NYSE: TRR), a recognized leader in engineering, environmental consulting and construction-management services, today announced it has acquired the contract to serve as Program Administrator of New Jersey’s Clean Energy Program™ (NJCEP), which has provided more than $300 million annually in support to homeowners, businesses and government entities upgrading to high-efficiency and renewable energy technology.
“The acquisition of New Jersey’s Clean Energy Program contract supports TRC’s strategy of enhancing our leadership position in the energy efficiency services market,” said TRC Chief Strategy Officer James Stephenson. “In order to prepare for evolving energy policies and economic drivers, TRC continues to broaden its capabilities to support a diverse portfolio of energy sources, including Power, Oil & Gas and Clean Energy.”
All the staff who have been working for the prior NJCEP Administrator, Ameresco Inc. and its wholly owned subsidiary, Applied Energy Group Inc. (AEG), will be joining TRC. Financial terms of the transaction were not disclosed.
“We at TRC are honored to assume our expanded role as the Program Administrator of this exciting program,” said Frank Reilly, TRC Senior Vice President of Energy Efficiency. “We look forward to the opportunity to expand participation in NJCEP, improve cost-effectiveness and deliver excellent service and economic and environmental benefits to New Jersey homeowners, businesses and government entities.”
TRC and AEG anticipate the transition will be seamless, with the same team continuing in its existing role without interruption. TRC’s Energy Efficiency practice is a growing, national leader in the design and implementation of state energy efficiency programs and provides services similar to the administration of NJCEP in several other states.
About New Jersey’s Clean Energy Program (NJCEP)
NJCEP, established on January 22, 2003 in accordance with the Electric Discount and Energy Competition Act (EDECA), provides financial and other incentives to the state’s residential customers, businesses and schools that install high-efficiency or renewable energy technologies, thereby reducing energy usage, lowering customers’ energy bills and reducing environmental impacts. The program is authorized and overseen by the New Jersey Board of Public Utilities (NJBPU), and its website is www.NJCleanEnergy.com.
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, environmental consulting and construction management firm that provides integrated services to the power, environmental, infrastructure and oil and gas markets. TRC serves a broad range of commercial, industrial and government clients, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. TRC trades on the NYSE under the symbol TRR. For more information, visit TRC's website at www.TRCsolutions.com, follow us on Twitter @TRC_Companies or find us on LinkedIn.
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