Rock Gap Engineering is the first and only American Indian-owned firm in ESCO listing
Albuquerque, NM – December 2016 – Rock Gap Engineering, an engineering consulting and construction firm, announced that it was recognized as the first and currently the only Native American energy service company (ESCO) approved by the U.S. Department of Energy.
ESCOs develop, design, build, and fund projects that save energy, reduce energy costs, and decrease operations and maintenance costs. In general, ESCOs act as project developers for a comprehensive range of energy conservation measures and assume the technical and performance risks associated with a project.
“Energy services were a natural progression for Rock Gap through our long-standing performance in facility engineering,” said Keith Keetso, President of Rock Gap Engineering. “We are excited and honored to be among a distinguished and select group of large businesses to provide performance-based energy services that include energy renewables and alternative forms of energy production.”
Rock Gap Energy Services went through an extensive vetting process to receive approval from the DOE energy committee. As an approved DOE ESCO company, Rock Gap Engineering can implement performance contracting with any federal agency or entity that receives federal funds.
Here’s key ESCO components:
- Project financing – The ESCO arranges for long-term project financing that is provided by a third-party financing company. Financing is typically in the form of an operating lease or municipal lease.
- Project Savings Guarantee – The ESCO provides a guarantee that the savings produced by the project will be sufficient to cover the cost of project financing for the life of the project.
According to the DOE website:
- Energy service companies (ESCOs) develop, design, build, and fund projects that save energy, reduce energy costs, and decrease operations and maintenance costs at their customers’ facilities. In general, ESCOs act as project developers for a comprehensive range of energy conservation measures and assume the technical and performance risks associated with a project.
- ESCOs are distinguished from other firms that offer energy-efficiency improvements in that they use the performance-based contracting methodology. When an ESCO implements a project, the company’s compensation is directly linked to the actual energy cost savings.The substantial energy-efficiency retrofits and renewable energy technologies inherent in energy savings performance contract (ESPC) projects typically require a large initial capital investment and may have a relatively long payback period.
- Debt payments are tied to the energy cost savings guaranteed for the project, so the agency pays for the capital improvements of the ESPC project with the money saved by the project (i.e., the difference between pre-installation and post-installation energy use and other related costs).
About Rock Gap Engineering:
Rock Gap Engineering (RGE) is a 100% Native American owned and operated Engineering Consulting and Construction Firm specializing in the fields of Electrical Engineering, Mechanical Engineering, Civil Engineering, Construction Administration, Building Commissioning, and Project Management and Controls, General Contracting and Construction Management. RGE is certified by the Small Business Administration as an 8(a), Small Disadvantaged Business and as a Disadvantaged Business Enterprise (DBE) by the New Mexico Unified Certification Program (NMUCP) and the New Mexico Department of Transportation (NMDOT) as well as being TERO certified by multiple of Native American Communities.