$100 million in energy efficiency spending is to be added to a retrofit project due to start this summer, owners Wien & Malkin have announced.

The project is expected to save around $4.4 million per annum in energy costs. Some 54% of these savings will be achieved with the implementation of the first five stages of the project, which should be complete within 18 months at a cost of $20m.

Jones Lang LaSalle Inc, the Clinton Climate Initiative and the Rocky Mountain Institute have acted in advisory roles on the project, which its owners say aims to provide a model of eco-efficient retrofitting of city buildings.

Elements of the plan include window upgrades, insulation, a new air conditioning system that adjusts to demand and produces cool water, and energy efficient lighting.

According to the Reuters report, commercial buildings in New York City account for 79% of the city's carbon emissions.

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