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News & Events
Constellation Energy Wins Contract to Build Cooling and Heating Plant at Canton Crossing:
04/13/2005
BALTIMORE. MD – PRNewswire-FirstCall/ -- Constellation Energy (NYSE: CEG) today announced that its Projects & Services Group has signed an $18.8 million agreement to build and operate a central utility heating and cooling plant for the new Canton Crossing development on the Canton waterfront in Baltimore. The on-site plant will provide chilled water cooling, hot water heating, and emergency backup electrical power for approximately 1.5 million square feet of new office, hotel, residential and retail construction. The ultimate build-out is estimated at 3.2 million square feet, and when the project is completed the plant's capacity will be 11,000 tons of chilled water, 82.2 million BTU/hrs of heating and 6 megawatts of emergency power. Constellation Energy's Projects & Services Group will build, operate and maintain the facility under a long-term agreement. The construction contract was signed with Hale Properties, Inc. Further terms of the agreement were not disclosed. "We're very pleased to be involved in one of the most important and exciting development projects in Baltimore," said Greg Jarosinski, president of Constellation Energy's Projects & Services Group. "Like the Inner Harbor downtown, Canton Crossing promises to be a catalyst for the redevelopment along the East Baltimore waterfront." Edwin F. Hale, CEO of Hale Properties and Chairman and CEO of 1st Mariner Bank, said, "As head of a real estate development company and a bank that are both based in Baltimore, I am proud that we have selected another Baltimore- based company, Constellation Energy, to be our primary energy solutions partner in developing Canton Crossing. My father worked for Constellation Energy's BGE subsidiary and I know and respect the company so this agreement is a great fit among companies committed to advancing our regional economy." The Canton Crossing project will be the fourth central energy plant built and operated by Constellation's Projects & Services Group. It also built and operates the Nashville District Energy Plant in Tennessee, the central heating and cooling plant at Heinz Field in Pittsburgh, home of the Pittsburgh Steelers, and a central chilled water distribution system for General Growth's Las Vegas Fashion Show mall. Constellation Energy, a FORTUNE 200 company based in Baltimore, is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of more than 100 generating units located throughout the United States, totaling approximately 12,000 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. In 2004, the combined revenues of the integrated energy company totaled $12.5 billion. |
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