Shared Savings Financing for Energy Efficiency Updgrades

This Master Agreement establishes a pre-qualified vendor pool model for the delivery of energy efficiency upgrades across correctional institutions throughout the State of Florida. The IDV encompasses six primary service categories: electrical systems including lighting and solar installations, heating, ventilation, and air-conditioning systems, water and recycling systems, building commissioning services, energy data collection hardware and software solutions, and additional energy efficiency measures. Procurements under this vehicle utilize a shared savings financing delivery method, wherein qualified contractors submit negotiated proposals at no cost to the Department, with pricing determined through project-specific shared savings arrangements that align financial incentives between the state and contractor.

NORESCO, LLC serves as the prime contractor for this Master Agreement, with the State of Florida Department of Corrections as the contracting organization. The contract term spans five years from June 29, 2026, through June 28, 2031, with renewal options for up to five additional years at identical terms and conditions. This Master Agreement was established through a competitive Request for Qualifications process and covers all Florida Department of Corrections institutions statewide. The contract type is classified as an Agency Term Contract, and contractors are required to provide 100% Performance Bonds and Labor and Material Payment Bonds equal to the cost of each negotiated proposal.