FRAMINGHAM, Mass. & WESTPORT, Mass.--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading energy efficiency and renewable energy company, today announced that it has partnered with the Town of Westport, Massachusetts to install a 622 KW-dc ground-mounted solar panel system at Westport’s closed landfill. Ameresco will be responsible for the design, construction, operations and maintenance of the solar farm, at its own expense.
As part of this agreement, Ameresco is leasing the land housing the solar panels from Westport and making an annual Payment In Lieu of Taxes (PILOT) to the town. Westport did not put up any capital and will not need to expend any operating funds tied to the project.
“Using the closed landfill for a solar project has been an objective of the Town, the Board of Selectmen and the Energy Committee for 10 years,” said Town Administrator Tim King. “The Town is utilizing a non-productive asset (the closed landfill) for a revenue-generating activity. The Town is furthering our energy goals by supporting a renewable energy source on town property. We have been very pleased with this partnership. Ameresco has been a supportive and collaborative partner to us throughout the entire process.”
“The Town of Westport is doing what other innovative and resourceful towns and municipalities should do, which is to think about ways to generate revenue.” said David J. Anderson, EVP and Director at Ameresco. “At the same time, Westport is prioritizing renewable energy and creatively utilizing underleveraged space--a closed landfill--that has little other opportunities for development or revenue generation. Other communities should look to The Town of Westport as an example of both fiscal responsibility and environmental stewardship.”
The project is anticipated to reach commercial operation in August 2019.
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.
About Town of Westport, MA
Westport is a town in Bristol County, Massachusetts, United States. The population was 15,532 at the 2010 census. Summer population is nearly increased by one quarter by summer residents. There are five historic “villages” or areas of Town known by different names These are North Westport (known in former times as Westport Factory);"Westport Point” where Main Road meets the river "Central Village" with town offices, retail stores and businesses; "Head of Westport" at the head of the east branch of the Westport River; and "Acoaxet" or "Westport Harbor" which is between the west branch of the river and Rhode Island reached by driving through a tiny portion of Rhode Island.
The announcement of our entry into a renewable energy asset arrangement is not necessarily indicative of the timing or amount of revenue from such arrangement, of the company’s overall revenue for any particular period or of trends in the company’s overall total assets in development or operation. This project was included in our previously reported assets in development as of March 31, 2019.