FRAMINGHAM, Mass. & HELENA, Mont.--(BUSINESS WIRE)--Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it has signed and begun work on an Energy Savings Performance Contract (ESPC) with Lewis and Clark County, Montana. Ameresco will install over $1.6 million of energy efficiency improvements at 28 County-owned buildings. The energy efficiency improvements are expected to save the County an estimated $77,000 annually while also addressing critical infrastructure needs. The project is expected to be completed in the fall of 2013.
“We had several County building systems that were at the end of their life cycle and although we had the resources available internally to fund the project, we utilized an energy savings performance contract to repay the capital budgets through the guaranteed energy savings,” said Eric Bryson, Administrator, Lewis and Clark County. “This energy savings performance contract with Ameresco will enable us to upgrade and replace all of the necessary infrastructure items this year and avoid the capital costs in the future. This is significant as it will allow us to leverage resources, make improvements, and implement immediate conservation measures otherwise not possible in these difficult economic times.”
Prior to beginning work on the ESPC, Ameresco performed a full investment grade audit to identify areas where energy savings measures could be implemented throughout the County-owned buildings and facilities, as well as created a plan for the design and implementation of project renovations. The comprehensive ESPC includes increased energy efficiency in multiple buildings through lighting upgrades, building envelope improvements, water conservation measures, and HVAC and boiler system upgrades at the Law Enforcement Center and Myrna Loy buildings.
“ESPC is a valuable tool for communities that need to be extremely diligent with their taxpayer dollars and need investment into their aging facilities,” said Louis P. Maltezos, Executive Vice President, Ameresco. “Our local Montana team worked very closely with Lewis and Clark County to make sure this project met their needs and expectations with the best value for every dollar invested. Additionally to ensure the County can achieve savings well into the future, Ameresco will provide the training and operational oversight of the new systems.”
The County also outlined additional capital cost avoidance improvements to be made, which include new dual pane windows at the historic Courthouse and heat pump replacements at the Law Enforcement Center. In addition to expected savings of over $77,000 annually on energy costs, greenhouse gas emissions are expected to be reduced by 2,700 metric tons, which is the equivalent of taking 83 cars off the road or planting 1,800 pine trees.
Ameresco has a long history of partnering with counties, schools, municipalities and commercial entities to improve energy infrastructure and install renewable energy technologies. Their pioneering of the ESPC financing model has made the budget-neutral solution an increasingly popular option for customers across North America, which enables budget-neutral energy efficiency upgrades by guaranteeing a minimum level of energy savings over the term of the contract. Ameresco coordinates the upfront project costs and the County repays that investment with their energy savings over time.
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 facilities throughout North America. Ameresco’s 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 provides local expertise through its 65 offices in 34 states and five Canadian provinces. Ameresco has more than 900 employees. 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.