College View is an innovative public-private partnership between Mississippi State University and Blue Sky Power client Greystar. The $67 million mixed-use village on a 34-acre parcel of land posed several dilemmas for Greystar. The first was how to provide the entire complex with HVAC and electricity from one central source. The next question was how to do so sustainably, which is in keeping with Greystar’s motto “Live Here, Live Green.” An energy system would also have to be developed and maintained economically. Next, Greystar and MSU desired maximum resiliency in the event of grid failure.
After technical and financial analyses, Blue Sky Power arrived at the solution of a centralized heating and cooling plant with Combined Cooling, Heat and Power (CCHP), which can provide HVAC and electricity to the entire complex.
Blue Sky Power’s initial engineering analysis, energy savings and financial modeling demonstrated a productive centralized microgrid that will reduce the upfront capital cost of the project for Greystar and reduce long term energy costs as well as increase resiliency and sustainability.
At no capital cost to Greystar, Blue Sky Power designed, is currently building, financing, and will operate and maintain the CCHP system for the College View campus. The project will make MSU’s College View campus more resilient while also saving substantial energy costs with an average of $116,000 in annual energy savings and $2,900,000 to be saved over the 25-year Energy Services Agreement (“ESA”). The project is beneficial to Greystar for several reasons. First, taking the initially proposed distributed split system equipment out of the construction budget will help the College View project’s economic viability for Greystar. Second, operating clean energy equipment is not a core competency for Greystar, while obtaining clean resilient energy is a stated goal.
Blue Sky Power financing and energy infrastructure operations provides Greystar with long-term energy cost certainty with no up-front capital outlays and substantial savings on construction and operating budgets, while simultaneously allowing Greystar to meet its goal of increased clean energy utilization. Furthermore, through Blue Sky Power’s operation and ownership of the system, Greystar can avoid new costs and demands on its maintenance staff. Greystar will also reduce its carbon emissions and improve sustainability.
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