Folsom,
NJ - Marina Energy LLC, a subsidiary of South
Jersey Industries [NYSE:
SJI], and DCO Energy have entered into a 25-year contract
to develop, design, own and operate a district energy system
and central energy center for Boyd Gaming’s [NYSE:
BYD] Echelon development in Las Vegas. LVE Energy Partners,
a joint venture between Marina Energy and DCO, was selected
from among several nationally known energy service providers.
Marina
and DCO currently provide chilled and hot water via a thermal
energy facility for cooling and heating to Borgata Hotel,
Casino and Spa in Atlantic City, N.J., a joint venture between
Boyd Gaming and MGM MIRAGE.
Construction
of the new energy facility will begin this summer.
Echelon
will include 5,000 hotel rooms, 750,000 square feet of meeting
and convention space, 300,000 square feet of retail space
and 140,000 square feet of casino space. The thermal plant,
which will be more than twice the size of the facility serving
Borgata, will generate 21,000 tons of chilled water for cooling
and 210 million BTUs per hour of hot water for heating and
commercial use. In addition, the plant will provide 16 megawatts
of emergency electrical generation.
Edward
J. Graham, chairman, president and CEO of South Jersey Industries
said, “We’re pleased that Boyd Gaming has chosen
to expand its relationship with us. Our thermal plant in Atlantic
City has served Borgata well allowing their management to
focus their time and talent on what they do best – planning
and operating successful resorts and casinos. We’ve
developed a portable energy model that allows us to do what
we do best – handle our customer’s energy needs
regardless of location.”
The energy facility will be constructed and operated by DCO
Energy on the Echelon 87-acre site. LVE has engaged UBS Securities,
LLC as an advisor on this transaction and as managing underwriter
of the financing for the energy facility.
SJI
is an energy services holding company for South Jersey Gas,
South Jersey Energy Solutions, South Jersey Energy, South
Jersey Resources Group, South Jersey Energy Service Plus and
Marina Energy. Visit http://www.sjindustries.com
for more information about SJI and its subsidiaries.
Marina Energy and DCO Energy develop and operate
energy-related projects including a thermal facility serving
hot and chilled water for the Borgata Hotel, Casino and Spa.
Other on-site power generation projects include a cogeneration
facility for a Niagara Falls casino and landfill gas-to-electricity
projects in several New Jersey counties.
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