FRAMINGHAM, Mass. & PORTLAND, Ore.--(BUSINESS WIRE)--Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company and the Junction City School District, today announced that the District has partnered with Ameresco for a $2.4 million dollar, turnkey project under an Energy Savings Performance Contract (ESPC) to provide energy efficiency and infrastructure upgrades to four schools encompassing a total of over 365,000 square feet of space. The project is expected to save the District 20 percent of its annual utility expense and vastly improve the learning environment for students and staff. Upgrades, including lighting, plumbing, mechanical and HVAC improvements, will be completed at the District schools.
Chris Meyer, facilities manager for Junction City School District, says these improvements will not only reduce energy costs but will allow the District staff to be more efficient from a maintenance standpoint. “Modern, standardized fixtures won’t fail as often, and will be easier to maintain,” Meyer said. “And being able to monitor our (energy) systems remotely will be a big time-saver, as well as allow us to better serve our students and staff,” he added.
The energy upgrades will be funded by a range of sources. Ameresco is assisting the District with securing incentives, tax credits, loans and bonds, and has already helped the District in securing an SB1149 reimbursement of nearly $550,000 for the project, as well as Energy Trust of Oregon (ETO) incentives totaling around $70,000. These funds will be combined with a low-interest Qualified Energy Conservation Bond (QECB) allocation and voter-approved bond dollars.
“Ameresco is pleased to partner with Junction City School District to provide efficient energy upgrades for the School District and to assist with financing measures,” said Louis Maltezos, Executive Vice President of Ameresco. “Utilizing an ESPC, JCSD is proactively taking steps to enhance the physical learning environment for students and staff at their schools, with the additional benefit of an annual energy cost-savings of approximately 20 percent. This budget-neutral project not only provides energy efficient solutions, it also demonstrates the community’s commitment to environmental stewardship.”
Ameresco is working closely with the District’s bond committee following approval of their May 2016 improvement bond. This collaboration allows the District to maximize the value of its bond dollars by utilizing an ESPC. An ESPC sets a maximum implementation cost for the District, guarantees a minimum threshold for energy savings, and specifies required operational outcomes for the entire project. As part of its contract, Ameresco is also responsible for engineering, installation, commissioning and verification of the project.
The project is expected to be completed in Fall 2018.
About Junction City School District
Junction City is a community of just over 6,000 people, but with school boundaries of 12,000 people. It is approximately 15 miles north of Eugene in Lane County, Oregon. The District has two elementary schools, one middle school and one high school. It serves 1,689 students and employs 205 staff. For more information, visit http://www.junctioncity.k12.or.us/.
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. This project was reported in awarded backlog as of September 2017.