FRAMINGHAM, Mass.--(BUSINESS WIRE)--Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and energy infrastructure company, today announced it has been awarded an Indefinite Delivery Indefinite Quantity (IDIQ) contract for federal Energy Savings Performance Contracts (ESPCs) by the U.S. Department of Energy (DOE). Ameresco is one of 21 companies awarded the $55 billion IDIQ contract to develop new energy and water savings projects for federal facilities.
“Ameresco appreciates this opportunity to develop new economically compelling ESPC projects for our federal partners,” said Nicole A. Bulgarino, Executive Vice President and General Manager, Federal Solutions, Ameresco. “We look forward to developing the next generation of innovative energy and water infrastructure projects, and we appreciate the DOE’s leadership in facilitating these public private partnerships.”
The new IDIQ contract was awarded to Ameresco on April 27, 2017. The contract has a base ordering period of five years and one 18-month option period, for a total ordering period of 6.5 years if the option is exercised. The maximum contract ceiling amount of $55 billion will be shared by all contract holders.
In an announcement last week, the DOE said that it expects the new IDIQ to be used for investments resulting in federal infrastructure improvements, energy savings, and job creation. According to the DOE, 362 projects have been awarded by 25 major federal agencies since the inception of DOE IDIQ ESPCs in 1998.
“This program highlights how the public and private sector partnerships can align with the Administration’s objectives for increased energy efficiency and job creation without burdensome regulations,” said U.S. Secretary of Energy Rick Perry. “A key component is that these energy and water efficiency projects at federal facilities pay for themselves, and the hope is that all federal agencies will utilize this financing method to the fullest extent.”
Ameresco is a longstanding DOE ESPC IDIQ contract holder and has developed a number of innovative projects awarded through the contract, including the largest renewable energy ESPC for a biomass cogeneration facility at the U.S. DOE Savannah River Site and a deep energy retrofit that resulted in more than 60% energy savings for the U.S. General Services Administration.
Most recently, Ameresco was awarded a $91.1 million ESPC project at Marine Corps Recruit Depot Parris Island, South Carolina under the current IDIQ contract. The energy infrastructure project includes a microgrid integrating 10 megawatts of new onsite generation and a battery energy storage system.
“Increasingly, Ameresco is incorporating advanced energy technologies into ESPCs which provide energy security, resiliency and new infrastructure to federal facilities,” said Bulgarino. “These cost-effective measures provide a spectrum of benefits from reducing recurring costs to extending the operating lifespan of mechanical equipment.”
The Energy Policy Act of 1992 authorizes federal agencies to use private financing for certain project implementation through Energy Savings Performance Contracts. ESPCs allow federal agencies to procure energy savings and facility improvements with no up-front capital costs or special appropriations from Congress.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total construction backlog.