FRAMINGHAM, Mass. & TORONTO--(BUSINESS WIRE)--Trent University in Peterborough, Ontario announced today that it has selected Ameresco Canada, a wholly-owned subsidiary of Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, to renew and upgrade campus infrastructure through the Campus Renewal Partnership (CRP), a facility-renewal plan funded through energy savings.
The $15.5 million project, which was approved by the Trent University Board of Governors, is expected to save the University more than $1.5 million in avoided energy costs annually for a nine-year term, and includes energy efficiency and infrastructure upgrades to 26 buildings and 126,000 square metres of space on the Symons Campus and Traill College in Peterborough, Ontario. The retrofits are expected to enhance comfort levels in campus buildings, and are in keeping with the University’s mandate to enhance environmental sustainability on campus, as well as in the greater community.
“Trent University is a proud leader in sustainability among post-secondary education institutions,” said Dr. Leo Groarke, President and Vice-Chancellor of Trent University. “By supporting the economic vitality of our neighbouring community while supporting improved learning spaces for our students, this partnership with Ameresco is enabling us to enhance the University environment for our students, faculty and staff, while being more environmentally sustainable and adding value to the entire Peterborough and Trent communities.”
Steven Pillar, Trent’s Vice President, Finance and Administration added, “This project will yield immediate cost-savings for Trent University, but more importantly, it will result in an over-achievement of our energy reduction targets set in our five-year Energy Conservation Plan and a simple payback of nine years. The partnership with Ameresco will create more efficient buildings and reduce our energy use, allowing us to significantly reduce our carbon footprint by approximately 2,650 metric tonnes of CO2 annually -- the equivalent of planting 20.5 acres of trees, or taking 563 cars off the road.”
“Ameresco is honoured to be partnering with Trent University to provide budget-neutral solutions that support the University’s sustainability platform and will help the University achieve its sustainability goals,” said Bob McCullough, President of Ameresco Canada. “Students, faculty and staff will not only benefit from the campus improvements, the community will also benefit from lower greenhouse gas emissions.”
The Campus Renewal Partnership will include an approximate two-year construction period, during which many infrastructure upgrades, as well as energy conservation measures, will be undertaken. The following upgrades will enhance the quality of the teaching and learning environments: new and re-commissioned air handling units (AHU)/variable air volume (VAV) conversions, which drastically improve ventilation and air quality; pool AHU; HVAC control systems/redesign and equipment; VSD pumps; heating boilers; domestic hot water (DHW) boiler replacement and electric heat conversion, all improving temperature comfort; lighting retrofits, which are not only more efficient but also improve colour rendition and visibility; micro cogeneration; and energy recovery systems, for more reliable back-up power.
About Trent University
Trent University has a long-standing history of supporting environmental awareness as well as instituting environmentally sustainable practices on campus. Over the last few years Trent has built two LEED-certified buildings, instituted car and bike share programs, and substantially increased locally grown food being served on campus, including from a new on-campus farm. Building on Trent’s recognized leadership in teaching and research in all areas related to the environment, in September 2015 Trent University launched its new School of the Environment, which positions Trent University as Canada’s leading postsecondary environmental institution, offering students the chance to make their mark on this planet in a thoughtful and sustainable way.
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 or commencement of 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. This project was included in Ameresco’s previously reported awarded projects as of September 30, 2015 and is included in our fully contracted backlog as of December 31, 2015.