The N.C. Department of Transportation is plowing $7 million into four of its buildings in Raleigh, with the goal of reducing their long-term energy costs.
Work on the buildings – the DOT headquarters complex just across Wilmington Street from the Capitol Building, the Olivia Raney building just around the corner and two buildings off Poole Road in southeastern Raleigh – is expected to begin next month, saidPriscilla Tyree Williams, DOT director of facilities management.
The upgrades are being done on a “performance contract” basis, meaning that the contractor, Trane USA, a division of Ingersoll-Rand (NYSE: IR), is guaranteeing 80 percent of the expected savings, Williams said. DOT is borrowing $6.7 million from U.S. Bank (NYSE: USB) at 2.4 percent.
Most of the upgrades involve the four buildings’ HVAC systems. They also include certain lighting upgrades and the purchase of a backup generator from Duke Energy (NYSE: DUK), which DOT had been leasing, Williams said.
Triangle Business Journal