EuroSite Power signed an on-site utility agreement worth approximately £3.02 million ($4.83 million) with Doncaster Culture & Leisure Trust for The Dome leisure center, Doncaster, UK.

The contract is the first of its type to be funded by Societe Generale Equipment Finance following the recently announced project financing agreement.

“The Societe Generale financing was put in place to enable EuroSite Power to deliver larger and more frequent installations of our On-Site Utility projects,” said Dr. Elias Samaras, EuroSite Power’s CEO. “Coming so swiftly after financing was secured, Doncaster Dome is much larger than our usual projects, demonstrating the amazing contribution of our financial partner to our future expansion.”

Under the terms of the 15-year on-site utility agreement for The Dome, a combined heat and power system will be installed, owned and operated by EuroSite Power at the leisure center. The center will then buy the energy produced by the system at a guaranteed lower rate than available directly from the grid.  Estimated savings for the customer are in excess of £35,500 ($56,800) per year, with no capital outlay or maintenance costs.

The 331kW TEDOM CHP system will produce up to 1,848,470 kW of electricity and 2,038,343 kW of heat per annum, while saving up to 667 tonnes of carbon dioxide (CO2) – equivalent to taking 140 cars off the road each year.

“This agreement marks yet another milestone for EuroSite Power,” said Paul Hamblyn, managing director of EuroSite Power. “With a total of 15 leisure centers in the UK now set to enjoy on-going, risk-free, cheaper energy. Coming so soon after announcing the financing arrangement with Societe Generale, it shows a real statement of intent. We look forward to announcing more success in the months to come.”