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Bridgestone Associates, LTD Signs Project Development Agreement with Portuguese CHP Development CapWatt

September 30, 2015 0 Comments press-release

Chadds Ford, Pennsylvania, USA, September 30th, 2015 – Bridgestone Associates, Ltd (www.brdgstn.com) recently signed an agreement with CapWatt SGPS, S.A., an experienced developer and owner of Combined Heat and Power (CHP) and Combined Cooling Heat and Power (CCHP) plants based in Maia, Portugal.  Under this agreement Bridgestone Associates will seek to identify new and existing CHP and CCHP opportunities for CapWatt in the USA with particular emphasis on 2 – 20 MW industrial plant opportunities in Connecticut, Maryland, Massachusetts, New Jersey and New York.  Once identified CapWatt will design, develop, finance, own and operate these CHP and CCHP plants and provide electrical and thermal energy to the host sites at no capital cost to the host.  Under this arrangement the host facility can obtain the significant energy and environmental efficiency benefits of CHP or CCHP while avoiding the capital cost (CAPEX) of building their own plant and avoid the operating costs (OPEX) and management requirements of long term operations and maintenance.

 

“This is an exciting opportunity for Bridgestone Associates to work with an experienced developer and CHP/CCHP owner such as CapWatt” said Martin Anderson, President of Bridgestone Associates, Ltd.  “They have over 50 operating projects totaling approximately 400 MW in Portugal and have developed excellent experience in the evaluation, design, development, financing, construction, and operations and maintenance of these projects over the years.  They are agnostic to the type and manufacturer of the generating equipment meaning they won’t try to “force fit” something into a project, and we like that approach and flexibility” continued Mr. Anderson.  “With CapWatt’s parent Sonae Capital SGPS, S.A., part of the multi-billion dollar Sonae SGPS, S.A. conglomerate, they have the financial strength to develop and finance multiple projects, and a willingness to demonstrate patience as we help them enter the North American power market.”

 

About Bridgestone Associates, Ltd.

Bridgestone Associates, Ltd. is a 25 year old Chadds Ford, Pennsylvania, USA based energy consulting and development company focused on the evaluation, development, financing, design, construction and operations of Combined Heat and Power (CHP) and Independent Power (IPP) energy production facilities, and on the efficient use and utilization of energy.  The Company provides these services to developers and owners of power generating and other energy related projects worldwide, as well as commercial and industrial energy users.

 

About CapWatt SGPS, S.A.

CapWatt has developed over 50 CHP, CCHP, and other power generation facilities totaling approximately 400 MW.  CapWatt is a well-financed subsidiary of Portugal-based Sonae Capital SGPS, S.A.. Sonae Capital’s activities are divided into six business segments: Resorts, which focuses on the development and management of tourism resorts; Hotels, which manages hotels with an integrated infrastructure, including spa and congress centers, as well as gastronomy; Fitness, which provides fitness and health clubs management; Energy, which operates industrial and commercial cogeneration (CHP) plants and includes CapWatt; Refrigeration and heating, ventilating and air conditioning (HVAC), which is responsible for the design, engineering, installation and distribution of refrigeration and HVAC solutions, as well as maintenance and technical services, and Other assets, which includes management of real estate assets and financial investment available for sale. Sonae Capital is part of the universe of Sonae SGPS, S.A., a multi-billion dollar Portuguese conglomerate with around 40,000 employees, operations in more than 70 countries, and annual sales in excess of US$7 Billion.

 

 

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