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4-Traders Homepage  >  Equities  >  Nyse  >  American Water Works Company Inc    AWK

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American Water Works Co., Inc. : Illinois American Water Implements Solar Power at Belleville Offices

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03/07/2012 | 08:55pm CET

March 7, 2012 Karen Cotton
309.566.4126 karen.cotton@amwater.com

Illinois American Water Implements Solar Power at Belleville Offices Project will decrease energy costs by approximately 15 percent

Belleville, Ill. (March 7, 2012) -Illinois American Water is installing solar power at office buildings located at 100
North Water Works Drive and 300 North Water Works Drive in Belleville. Two solar rebates from the Illinois
Department of Commerce and Economic Opportunity and a federal tax credit are helping to fund this investment.
Illinois American Water received two $30,000 solar rebates from the Illinois Department of Commerce and Economic Opportunity for the installation of two 24 kW solar systems. The company also received a 30 percent federal tax credit to help offset installation costs.
"This new solar power system will provide an environmentally friendly energy source to our offices in Belleville while reducing energy cost by about 15 percent," said Karla Olson Teasley, president of Illinois American Water.
The solar structures, which are being installed by local contractor Day and Night Solar and CMS Renewables, will be located along the south side of the current parking lot. In addition to producing electricity the solar power systems will also produce annual Solar Renewable Energy Credits (SREC's). SREC's can be purchased by power utilities to help them in meeting renewable energy power requirements.
According to Jeffrey Kaiser, director of engineering for Illinois American Water, "This project supports our company's commitment to control costs. In time this investment will not only pay for itself but will help offset rising energy costs, which ultimately benefits our customers."
Illinois America Water is investigating potential opportunities to complete solar power projects in the Peoria District.

About Illinois American Water

Illinois American Water, a wholly owned subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to more than 1.2 million people. American Water also operates a customer service center in Alton and a quality control and research laboratory in Belleville. Founded in 1886, American Water is the largest publicly traded U.S. water and wastewater
utility company. With headquarters in Voorhees, N.J., the company employs more than 7,000 dedicated professionals who provide drinking water, wastewater and other related services to approximately 15 million people in more than 30
states, as well as parts of Canada. More information can be found by visiting www.amwater.com.
PRESS RELEASE www.amwater.com

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Financials ($)
Sales 2016 3 342 M
EBIT 2016 1 148 M
Net income 2016 497 M
Debt 2016 6 558 M
Yield 2016 2,04%
P/E ratio 2016 26,11
P/E ratio 2017 24,05
EV / Sales 2016 5,85x
EV / Sales 2017 5,72x
Capitalization 12 998 M
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 80,1 $
Spread / Average Target 9,7%
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NameTitle
Susan N. Story President, Chief Executive Officer & Director
George F. MacKenzie Non-Executive Chairman
Walter J. Lynch Chief Operating Officer
Linda G. Sullivan CFO, Principal Accounting Officer & EVP
Mark S. Smith Chief Information Officer & Vice President
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