An EPC is unique in that the Energy Services Company is paid solely from the proven savings achieved after the design, installation, measurement and verification are completed. Whilst EPC is widely used in the US and Europe, it is the first time that such a concept will applied in Lebanon.
EEG had previously undertaken an energy audit for the Phoenicia Intercontinental Hotel in 2008, followed by an updated lighting energy analysis in 2014, which was carried out in parallel at the Vendome Intercontinental Hotel. The outcome led to the negotiation of the EPC contract, which comprises retrofitting more than 24,000 lighting fixtures across the two hotels, with combined annual cost savings estimated at over US$400,000. Under the EPC, EEG will be paid via an agreed share of the monthly savings over three years, but only after all installations are done and savings verified following the IPMVP (International Performance Measurement and Verification Protocol)