CoreSite Realty Corporation (NYSE:COR), a premier provider of secure, reliable, high-performance data center and interconnection solutions in major U.S. metropolitan areas, celebrated CoreSite’s energy efficiency savings this week in an award ceremony with the Los Angeles Department of Water and Power (LADWP).
CoreSite, one of the nation’s premier data center corporations and a key customer of the LADWP, received a nearly $3 million rebate earlier this year for energy efficiency upgrades at its LA2 facility in downtown Los Angeles. LADWP’s Custom Performance Program provided the incentive to help CoreSite implement an extensive cooling system retrofit that has yielded more than 9.8 million kWh of energy savings annually.
“CoreSite is continually looking at projects to drive data center operating efficiencies and sustainability,” said Brian Warren, CoreSite’s Senior Vice President of Development and Product Engineering. “We were pleased to deliver our new cooling capabilities to achieve an important reduction in emissions. We appreciate the award, the recognition of our project and our ongoing partnership as the leading data center operator in downtown Los Angeles with LADWP.”
“LADWP is pleased to support CoreSite’s commitment to sustainability while helping them better manage their electric consumption and costs through energy efficiency,” said Sharon Grove, LADWP’s Assistant General Manager of Customer Service. “We are glad to have worked with CoreSite to help them implement practical and impactful measures to support their business while also benefiting the environment.”
In a recent expansion of its LA2 data center, CoreSite recognized an opportunity to modernize its cooling systems. The facility was previously operating with four small cooling systems that operated year-round, day and night, to remove server heat from downtown Los Angeles’ largest data center. CoreSite consolidated the four units into a single large system that incorporated the best cooling technology in the market and capitalized on efficiency options made possible by the size of the new plant.
As part of the project CoreSite took four live systems and converted them without interrupting cooling service. Due to space constraints at the LA2 facility, CoreSite’s challenge was to place the entire system into an area the size of a dozen parking spaces without changing the architectural appearance of the historic postal annex. The project also required the installation of five 40,000 gallon storage tanks to ensure cooling could not be interrupted if the water supply was lost to the site. CoreSite supplemented electrical power with new backup generators that would ensure power could not be interrupted. With expert preparation, CoreSite was able to complete the project in under six months. CoreSite is now able to provide enhanced capacity and greater reliability at its LA2 data center, all while using less energy.
LADWP works with commercial customers like CoreSite and offers a wide array of rebate and incentive programs to help reduce their energy use while also saving on utility bills. During fiscal year 2018-19, LADWP customers saved 476,900 MWh cumulatively. This amount of energy savings is equivalent to offsetting electricity for 79,483 homes and reducing GHG emissions by 165,918 metric tons annually, which is comparable to removing 35,694 gasoline-fueled vehicles from local roads. To learn more about LADWP’s commercial rebate programs visit www.ladwp.com or call 1-800-DIAL-DWP.
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,350 of the world’s leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads. Our scalable, flexible solutions and 450+ dedicated employees consistently deliver unmatched data center options — all of which leads to a best-in-class customer experience and lasting relationships. For more information, visit www.CoreSite.com.
The Los Angeles Department of Water and Power (LADWP) is the nation’s largest municipal utility, with a 7,880 megawatt (MW) electric capacity and serving an average of 438 million gallons of water per day to the 4 million residents of the City of Los Angeles, its businesses and visitors. For more than 100 years, LADWP has provided the city with reliable water and power service in a cost effective and environmentally responsible manner.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond CoreSite’s control that may cause actual results to differ significantly from those expressed in any forward-looking statement. These risks include, without limitation: the geographic concentration of the Company’s data centers in certain markets and any adverse developments in local economic conditions or the amount of supply of or demand for data center space in these markets; fluctuations in interest rates and increased operating costs; difficulties in identifying properties to acquire and completing acquisitions; significant industry competition, including indirect competition from cloud service providers; failure to obtain necessary outside financing; the ability to service existing debt; the failure to qualify or maintain its status as a REIT; financial market fluctuations; changes in real estate and zoning laws and increases in real property tax rates; and other factors affecting the real estate industry generally. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in its most recent annual report on Form 10-K, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.