Ameresco to Implement $3.7 Million in Energy Efficiency Improvements in Historic Farmington, Connecticut
FRAMINGHAM, MA and FARMINGTON, CT – June 18, 2012 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it has entered into an Energy Savings Performance Contract (ESPC) with the Town of Farmington, Connecticut. As part of the ESPC, Ameresco will construct and implement $3.7 million in energy efficiency measures at 22 facilities town-wide. Once complete, the measures are expected to save Farmington more than $245,000 annually over the contract’s 16-year term.
Faced with continuing budget constraints, this forward-thinking town and school district sought a solution that would eliminate over $2 million in pending capital expenditures, and not burden its taxpayers. In a spirit of cooperation, Board of Education and Town officials worked collaboratively for over two years to develop and implement a plan that would address an aging infrastructure, lower utility costs and at the same time keep tax dollars out of the equation.
“The performance contract concept and Ameresco’s expertise has allowed us to leverage resources, make improvements, and implement immediate conservation measures otherwise not possible in these economic times,” said Jeffrey Hogan, Chair of the Farmington Town Council.
The Town of Farmington is committed to green initiatives including energy conservation, renewable resources, recycling, and other environmentally friendly practices. Ameresco’s ESPC will build on this commitment and help to stretch the Town of Farmington’s dollars into more than $3.7 million of infrastructure renewal. Farmington will be able to make critical upgrades to its energy infrastructure and increase energy efficiency without bearing the burden of additional capital investment from taxpayers.
“The Farmington School District has made a commitment to environmentally friendly practices for many years. The performance contract is another critical step in advancing these practices to improve our facility infrastructure, enhance healthy learning environments, and realize savings for our community,” said Mary Grace Reed, the Chair of the Farmington Board of Education.
“Sustainability initiatives, such as this one that supports the State of Connecticut’s energy policies, enable communities like Farmington to proactively address much needed deferred maintenance and infrastructure improvements while remaining budget-neutral,” stated David J. Anderson, Executive Vice President, Ameresco. “This energy savings performance contract will help update this historic town’s aging building infrastructure by implementing energy efficiency measures without additional taxpayer burden. Cities and towns across the state can directly benefit from these programs.”
Using data from a variety of sources including site surveys and facility interviews, Ameresco identified 19 conservation measures to increase efficiency throughout the Town. A few of the upgrades and efficiency measures Ameresco will begin to implement this month include:
Retrofit over 7,100 light fixtures and automated lighting controls
Integrate new “open protocol” web-based energy management system
Repair and / or replace over 290 steam traps
Address weatherization and insulation needs across all facilities
Replace several failing air handling units and a chiller at the town hall
Install new energy efficient boilers at the local high school
Install increased controls on vending machines, air conditioners, and classroom televisions
Replace cast iron steam radiators with efficient, digitally controlled fin-tube baseboard radiation
The ESPC model enables budget-neutral energy efficiency upgrades by guaranteeing a minimum level of energy savings over the term of the contract. Ameresco coordinates the upfront project costs and the customer repays that investment with their energy savings over time.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, and renewable energy solutions for facilities throughout North America. Ameresco’s 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, Massachusetts, Ameresco provides local expertise through its 62 offices in 34 states and 5 Canadian provinces. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.
About Farmington, Connecticut
Farmington is a residential suburb in the Hartford Metropolitan area that has retained its distinctive character through maintenance of its historic districts and careful land use planning for the future. The Farmington school district is nationally recognized for excellence in education. With a population of over 25,000 and a student base of over 4,000, Farmington serves as a model community for sustainability and energy conservation across Connecticut.