Green Energy Management Services (GEM), a national energy management company, has secured a ten-year energy efficient lighting installation and maintenance contract from Co-op City, a residential development in the US, located in The Bronx, New York.

Under this contract, Green Energy Management will replace and retrofit over 6,000 lighting fixtures and elements in eight parking structures within Co-op City with power-saving, long-life inducing LED lighting.

The project is expected to help Co-op City save approximately $350,000 in annual electricity savings, and approximately $2,500,000 in maintenance cost savings over ten years.

As compensation for the project, and upon the completion of certain contractual milestones, GEM will receive $800,000 in the form of a grant from the American Recovery and Reinvestment Act in addition to getting approximately $1,800,000.00 over the ten-year balance of the contract.

GEM chairman and CEO Michael Samuel said that the company is very excited about beginning work with Co-op City and its operating team on the city’s infrastructure upgrade to the city save significantly in energy costs.

” Co-op is a great example of our business model of serving customers seeking cost savings through energy efficiency while providing a ‘green’ solution for their businesses,” Samuel said.