KNOXVILLE, Tenn. & FRAMINGHAM, Mass.--(BUSINESS WIRE)--Knox County officials and Ameresco, Inc. (NYSE: AMRC), a leading energy efficiency and renewable energy company, joined today at the Knox County Central Building in Knoxville, Tennessee to commemorate the completion of the first of 14 solar arrays that are being installed at schools and select facilities throughout the County. Ameresco was selected by Knox County to install more than 5 megawatts (MW) of solar photovoltaic systems on the rooftops of 11 schools plus the Central Building, and ground mount solar arrays at the Detention and Juvenile Justice Facilities. The $12.45 million project is scheduled to be completed in early 2016, and is expected to provide more than $29 million in energy savings to the County, as well as generating an aggregate approximately $14 million in positive bottom line cash flow for the County over the next 30 years.
Officials participating in today’s dedication ceremony include Mayor Tim Burchett, Knox County Schools’ Superintendent Jim Mclntyre, and Ameresco Vice President Jeff Metcalf.
“Our renewable project is fiscally responsible, saves taxpayer money and makes good business sense for the County and our entire community,” said Knox County Mayor Tim Burchett. “This solar project will pay for itself and reduce utility costs, which means it’s good for our taxpayers and the environment. It’s a win-win no matter how we look at it.”
“In addition to the financial and environmental benefits, this project will provide our school system with a tremendously valuable educational tool to teach our students about renewable energy technologies, and emphasize to the future leaders of our community the importance of sustainability,” said Mclntyre, Superintendent of the Knox County Schools.
A sample installation at the L&N STEM Academy will be monitored and displayed on a kiosk for interactive learning opportunities with students.
“We commend Knox County for its leadership in embracing sustainability practices and for its commitment to renewable energy,” said Louis P. Maltezos, Executive Vice President, Ameresco. “We are proud to be helping the County achieve significant financial and environmental benefits through implementation of this solar project which will also provide a wealth of information for student learning.”
The locations of the solar arrays include: AL Lotts Elementary School, Amherst Elementary School, Bearden Middle School, Central High School, Hardin Valley Academy, Karns High School, L&N STEM Academy, Powell Middle School, South Doyle Middle School, West High School, West Valley Middle School, the Detention Center, Juvenile Justice Facility, and the Knox County Central Building.
Construction on the project started in August 2015 and is estimated to be completed in early 2016. Approximately 126 jobs were expected to be created over the course of the construction period.
The project is expected to produce environmental benefits by reducing greenhouse gas emissions (GHG) by over 5,000 metric tons of CO2 annually. To put this in perspective, this is equivalent to the annual GHG emissions from approximately 1,057 passenger vehicles or nearly 12 million miles a year driven by average passenger vehicles.
About Knox County, Tennessee
Knox County is a county located in Tennessee. According to the U.S. Census Bureau, the county has a total area of 526 square miles, of which 508 square miles is land and 17 square miles is water. With a population of 432,226, it is the third-most populous county in Tennessee. Its county seat is Knoxville, the third-most populous city in Tennessee. It is located at the geographical center of the Great Valley of East Tennessee. Near the heart of the county is the origin of the Tennessee River at the union of the Holston and French Broad Rivers. For more information, visit http://www.knoxcounty.org/.
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 Ameresco’s overall revenue for any particular period or of trends in Ameresco’s overall total construction backlog.