FRAMINGHAM, MA and PORTLAND, OR – June 6, 2011 – Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it recently signed a contract to conduct Investment Grade Audits under a new phase of a budget-neutral Energy Savings Performance Contract (ESPC) with Portland Public Schools. Additionally, Ameresco signed contracts with three other school districts in Clark County, Washington totaling $3.7 million: the Camas School District, the Battle Ground School District and the Hockinson School District. The three energy efficiency projects in Clark County are currently under construction.
“The continued strength and growth of our business in the Northwest reflects the broader success we’ve had with our customers across the country,” said Michael O’Connor, Vice President, Ameresco Quantum. “An ESPC allows us to help eliminate the fiscal constraints on our clients, perform necessary updates on aging systems, and ultimately reduce both energy costs and environmental impacts. In addition, analysis of 111 K-12 projects that received a Washington State grant revealed that our approach delivers more savings per dollar invested.”
Because school districts in the Northwest have been rapidly embracing energy performance contracting, Ameresco Quantum has opened an office in Portland, Oregon to better serve the growing regional demand.
Previous phases of work for the Portland Public School District have included HVAC and lighting efficiency projects for the Beaumont Middle School, Cleveland High School, George Middle School and Wilson High School. The latest phase of Ameresco Quantum’s work at Portland Public Schools is expected to include efficiency measures at six other schools: Benson Polytechnic High School, Buckman Elementary School, Franklin High School, Grant High School, Harrison Park K-8 and Hosford Middle School, and the Blanchard Education Service Center. The energy conservation measures include: new lighting and controls, new HVAC equipment and controls and new plumbing fixtures. The total building area is approximately 1.6 million square feet.
The District’s goals are to reduce energy and water costs while improving the learning environment. The project is expected to provide an average annual savings of $450,000. Funding will be provided by federal low-interest loans which may be augmented with energy tax credits and other state funds.
Regionally, Ameresco Quantum’s Clark County Washington State K-12 projects include:
Camas School District: Dorothy Fox Elementary School, Helen Baller Elementary School, Grass Valley Elementary School, Lacamas Heights Elementary School, Prune Hill Elementary School, Skyridge Middle School, Liberty Middle School and Camas High School
Battle Ground School District: Amboy Middle School, CAM Junior High School, Chief Umtuch Middle School, Daybreak Middle School, Laurin Middle School, Lewisville Middle School, Maple Grove Middle School, Pleasant Valley Middle School, Tukes Valley Middle School, Captain Strong Elementary, Daybreak Primary School, Glenwood Heights Primary, Maple Grove Primary, Pleasant Valley Primary School, Tukes Valley Primary School, Yacolt Primary School, Battle Ground High School, CAM High School, Prairie High School and Summit View High School
Hockinson School District: Hockinson Heights Primary School, Hockinson Heights Intermediate School, Hockinson Middle School and Hockinson High School
An ESPC is a budget-neutral way to reduce energy use and associated costs, and renew facilities and building systems without burdening shrinking capital budgets. Ameresco will guarantee a minimum level of energy savings over the term of the contract that the cash inflows from the project will exceed the cash requirements for the project, offsetting the costs of these improvements.
About Ameresco, Inc.
Ameresco, Inc. was incorporated in Delaware in April 2000 and is a leading independent provider of comprehensive energy efficiency solutions for facilities throughout North America. Ameresco’s solutions include upgrades to a facility’s energy infrastructure, and the development, construction, and operation of renewable energy plants. With corporate headquarters located in Framingham, MA, Ameresco has 56 offices in 29 states and five Canadian provinces. For more information, visit www.ameresco.com.