EuroSite Power Inc. has signed an On-Site Utility agreement worth approximately £4.11 million with The Celtic Manor Resort, Newport, South Wales, United Kingdom. Under the terms of the 15-year On-Site Utility agreement, EuroSite Power will install a highly efficient combined heat and power (CHP) system at The Celtic Manor Resort. EuroSite Power will retain ownership of the equipment installed and cover all maintenance costs. Avoiding any capital outlay, the resort will simply buy the energy produced by the system from EuroSite Power at a rate guaranteed to be lower than if it were to source the same energy directly from the grid. The 400 kW TEDOM CHP system will produce up to 2,174,960 kW of electricity and 2,579,990 kW of heat per annum, while saving up to 751 tones of carbon dioxide (CO2) "equivalent to taking 159 cars off the road" each year. The new contract brings EuroSite Power's contracted portfolio of systems to 38 with a total lifetime contract value to the company of £70.33 million from units totaling 4,498 kW electrical capacity.