Commonwealth Energy System Buys Harvard's Total Energy Plant

Commonwealth Energy System's (NYSE:CES) subsidiary Advanced Energy Systems Inc. announced that it has completed the purchase of Harvard's subsidiary Medical Area Total Energy Plant Inc. (MATEP) for $147 million.

A chilled water, steam, and electricity-generating facility in Boston's Longwood Medical Area, MATEP was built in 1980 to serve three of Harvard's professional schools and five affiliated teaching hospitals. Advanced Energy will continue to provide all of the energy required by existing MATEP customers, including Beth Israel Deaconess Hospital, Brigham and Women's Hospital, Children's Hospital, Dana-Farber Cancer Institute, Joslin Diabetes Center, and the Medical School, Dental School, and the School of Public Health, and it plans to use MATEP as a base to provide steam and chilled water services to other area customers.