In 2014, the Olympic Park started a process of call for bids to select an energy service company (ESCO) to implement a guaranteed energy savings project.
The size of the project proposed by the successful bidder ESCO amounted to 25 million dollars, making it one of the largest in recent years in the province of Quebec and even in Canada.
The Olympic Park board of directors required that a firm specialized in energy performance contracting (EPC) assist the Olympic Park in conducting contract negotiations with the ESCO.
Econoler was hired to provide the Olympic Park with advice during contract negotiations with the bid-winning ESCO. As part of its project, the Olympic Park was required to sign two contracts with the ESCO:
- A contract for conducting a detailed feasibility study.
- An energy performance contract.
Econoler studied and examined the project documentation, including the documents for:
- The call for applications
- The request for proposals
- The ESCO’s proposal
Making recommendations regarding the contract for the detailed feasibility study and the energy performance contract:
- Reviewing the proposed contracts
- Analyzing the gaps and risks in the proposed contracts
- Giving suggestions for improvements
Econoler’s contract-negotiation expertise and approach helped the Olympic Park quickly conclude the contracts with the ESCO. More importantly, the modifications made to the two contracts allowed the stakeholders to anticipate the risks usually associated with the implementation of an EPC project as well as understand the legal context conducive to the successful implementation of one of the largest ESCO projects in Canada in recent years.