Energy Factors Inc. said it had signed two contracts with Burroughs Corp., Micro-Components Group, to provide on-site co-generation at its Rancho Bernardo facilities. The agreements are valued at more than $6 million. Energy Factors also said it completed construction of a new $2-million co-generation facility at its downtown San Diego chilled-water plant. The company provides chilled water for air conditioning at five downtown high-rise office buildings and will serve the Horton Plaza shopping center, which is scheduled to open in August.
Thermal Energy Storage Inc. signed a letter of intent with Lennox Industries Inc. of Dallas that will license Lennox to use TESI's proprietary energy-storage technology for residential air-conditioning systems. No terms were disclosed.
San Diego Gas & Electric Co. said it will save $800,000 annually by redeeming $13.2 million in outstanding 16% Series S bonds. The funds will be replaced by 8.5% California pollution control bonds the utility issued in December. The credit rating of those bonds--and other SDG&E securities--may be upgraded, according to Moody's Investors Services. The rating agency said the securities are under review because SDG&E "has achieved its recent financial goals and prospects for continued financial strength are good."
San Diego Pipeline Co., a unit of Santa Fe Southern Pacific Corp., is planning a $23.5-million expansion of its 120-mile petroleum products pipeline between San Diego and Los Angeles.