Lend Lease (US) Public Partnerships on Track to Achieve 20 percent Energy Savings through the Better Buildings Challenge

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May 12, 2014, 11:00 ET

NASHVILLE, Tenn., May 12, 2014 /PRNewswire/ -- Lend Lease (US) Public Partnerships (Lend Lease) was recently recognized by the Energy Department for its achievements in the Better Buildings Challenge and for reducing energy intensity by 16.2 percent across its entire building portfolio. The announcement was made at the first National Better Buildings Summit on May 8. Better Buildings Challenge Partners are demonstrating progress to achieve 20 percent energy savings in ten years, with annual energy savings of 2.5 percent or $300 million.

"By committing to cut energy use by 20 percent, Better Buildings Challenge partners are demonstrating how businesses and organizations are reducing our nation's energy bill, creating American jobs, and protecting the environment," said Dr. David Danielson, Assistant Secretary for Energy Efficiency and Renewable Energy at the U.S. Department of Energy. "With commitments representing more than 3 billion square feet of floor space, these partners are leading the way to a cleaner energy economy."

The Better Buildings Challenge is a national leadership initiative launched by President Obama in 2011 with the goal of making American commercial, multifamily and industrial buildings 20 percent more energy efficient in ten years. The Better Buildings Challenge supports President Obama's broader goal of doubling American energy productivity by 2030 while motivating corporate and public sector partners across the country to save energy through commitments and investments.

"The goal of the Better Buildings Challenge is to improve energy efficiency in buildings, reducing energy cost and avoiding harmful emissions," said Marc Sierra, Managing Director at Lend Lease (US) Public Partnerships. "As a partner, Lend Lease has committed to a 20 percent reduction in grid energy consumption within our Military Housing Privatization Initiative (MHPI) portfolio over the next five years. The portfolio represents approximately 41,000 homes including 17,000 new, 23,000 legacy, 800 historic units, 19 offices and 19 community centers. This translates into 'greening' 63.5 million square feet of real estate, ultimately helping enhance American energy security while improving the thermal comfort and livability for our military families."

To achieve its reduction goals, Lend Lease is taking a three-pronged approach as part of the Challenge – Green Retrofit, Energy Production and Energy Management/Behavior Modification. Over the last 12 months Lend Lease has generated over 31MWh offsetting nearly 4.5 percent of its total portfolio demand load, with plans to double the performance over the next five years.

For more about Lend Lease's Better Buildings Challenge energy efficiency projects, visit: www.energy.gov/betterbuildingschallenge.

About Lend Lease

Lend Lease is a leading international property and infrastructure group. Listed on the Australian Securities Exchange and with circa 19,000 employees worldwide, the firm's capabilities span the property and infrastructure spectrum.

In the US, Lend Lease's public partnership business is the nation's leader in public/private community development. With a focus on creating sustainable value, Lend Lease creates communities that regenerate our environment, enrich people's lives and foster economic growth. Lend Lease has worked extensively with the Department of Defense through the Military Housing Privatization Initiative (MHPI), a program that provides for the transfer of military housing assets to private sector companies. With over 40,000 residential units, 192 apartments and more than 11,600 hotel rooms in its portfolio, Lend Lease will finance, develop, build, renovate and operate these sites for at least 50 years.

We create innovative and sustainable property solutions, forging partnerships and delivering maximum benefits to clients, investors and communities. Safety is our number one priority and Lend Lease is committed to operating Incident & Injury Free wherever we have a presence.

www.lendlease.com

SOURCE Lend Lease