Upgrading Energy Infrastructure for Mercedes-Benz Superdome
Energy Performance Contract Savings solution for Louisiana Stadium and Exposition District
The Louisiana Superdome and Exposition District (LSED) needed to upgrade energy infrastructure at the Mercedes-Benz Superdome stadium. Built in the 1970’s, the Superdome is not only an operational facility, but a destination for world class events. In addition to the upgrades, LSED sought a state-compliant financing solution that could be embedded in the contract’s terms.
Siemens was chosen to implement technological advancements and energy efficiency upgrades at the Superdome, including improvements to the stadium’s lighting, temperature systems, and energy management platform. Siemens Financial Services (SFS) provided the LSED with a $7 million municipal lease to finance improvements for the Mercedes-Benz Superdome under the agreement. By providing the ability to offset guaranteed savings shortfalls in future payments, Siemens Financial Services met LSED’s terms and developed a creative financing structure that was the first of its kind in the state of Louisiana.
Benefits for Customer
The infrastructure and energy savings improvements are projected to save the LSED an estimated $6.5 million in energy and operational cost savings and capital cost avoidance over 10 years. These savings can then be reinvested into other aspects of the building, which will allow the LSED to stay competitive in bringing high-quality events to its facility. In addition to financial savings, upgrades to the Superdome are projected to save more than 6.2 million kWh of energy each year.