DTE Energy Services, a non-utility business of DTE Energy, completes purchase of Marina Thermal Facility in Atlantic City
February 19 2020 - 8:41AM
DETROIT, Feb. 19, 2020 – DTE Energy Services, a non-utility
business of DTE Energy (NYSE: DTE), today announced it completed
the $100 million purchase of the Marina Thermal Facility from SJI,
an energy services holding company based in Folsom, New Jersey.
Located in Atlantic City, the Marina Thermal Facility is an
eight-megawatt combined heat and power generation facility that
provides electricity and hot and chilled water to MGM’s Borgata
Hotel Casino & Spa and The Water Club.
“DTE Energy Services has been providing reliable energy services
to our customers that allow for greater business focus and ensure
the safety of our employees, customers and the communities we’ve
served for the past 25 years,” said Mark Stiers, president and
chief operating officer, DTE Power & Industrial. “We’re proud
to add the Marina Thermal Facility to our portfolio of on-site
energy projects, and we look forward to continuing to provide MGM’s
Borgata Hotel Casino & Spa and The Water Club with reliable
service that meets their energy needs for years to come.”
About DTE Energy Services
DTE Energy Services is part of DTE’s non-utility Power and
Industrial business unit. It provides products and services to
large, energy-intensive industrial, commercial and institutional
customers. The business focuses on customers in the steel,
chemical, automotive, commercial real estate and consumer products
sectors. On-site energy offerings include cogeneration of
electricity and steam, compressed air, hot and chilled water, waste
water treatment, backup power, electrical distribution and energy
efficiency programs. More information about DTE Energy Services is
available at dtepowerandindustrial.com.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified
energy company involved in the development and management of
energy-related businesses and services nationwide. Its operating
units include an electric company serving 2.2 million customers
in Southeast Michigan and a natural gas company serving
1.3 million customers in Michigan. The DTE portfolio includes
energy businesses focused on power and industrial projects;
renewable natural gas; natural gas pipelines, gathering and
storage; and energy marketing and trading. As an environmental
leader, DTE utility operations will reduce carbon dioxide and
methane emissions by more than 80 percent by 2040 to produce
cleaner energy while keeping it safe, reliable and affordable. DTE
Electric aspires to achieve net zero carbon by 2050. DTE is
committed to serving with its energy through volunteerism,
education and employment initiatives, philanthropy and economic
progress. Information about DTE is available at dteenergy.com,
empoweringmichigan.com, twitter.com/dte_energy and
facebook.com.
Forward Looking Statements
Certain information presented herein includes “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 with respect to the financial condition, results
of operations, and businesses of DTE Energy. Words such as
“anticipate,” “believe,” “expect,” “projected,” “aspiration,” and
“goals” signify forward-looking statements. Forward-looking
statements are not guarantees of future results and conditions, but
rather are subject to numerous assumptions, risks, and
uncertainties that may cause actual future results to be materially
different from those contemplated, projected, estimated, or
budgeted. Many factors may impact these forward-looking statements
including, but not limited to, the following: the failure to
consummate the transaction, the risk that we will not achieve
expected synergies, the risk that the operations being acquired in
the acquisition will not be successfully integrated or that such
integration will take longer than expected, the risk that the
operations being acquired will not perform as expected; and the
risks discussed in our public filings with the Securities and
Exchange Commission. Accordingly, investors should not place undue
reliance on forward-looking statements as a prediction of actual
results. New factors emerge from time to time. We cannot predict
what factors may arise or how such factors may cause results to
differ materially from those contained in any forward-looking
statement. Any forward-looking statements speak only as of the date
on which such statements are made. We undertake no obligation to
update any forward-looking statement to reflect events or
circumstances after the date on which such statement is made or to
reflect the occurrence of unanticipated events. This document
should also be read in conjunction with the Forward-Looking
Statements section of the joint DTE Energy and DTE Electric 2018
Form 10-K and 2019 Forms 10-Q (which sections are incorporated by
reference herein), and in conjunction with other SEC reports filed
by DTE Energy.
Jill Wilmot
DTE Energy
313.235.5555
DTE Energy (NYSE:DTE)
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