Energy Savings Performance Contract (ESPC) with Ameresco, Inc. will upgrade and modernize campus facilities
FRAMINGHAM, MA and VERSAILLES, KY – April 12, 2012 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, and the Kentucky Community and Technical College System (KCTCS) announced today that four colleges in the KCTCS are in the process of receiving energy upgrades and retrofits that are expected to save more than $480,000 annually in energy costs.
The contract was finalized in December 2011 for projects at Ashland Community and Technical College, Big Sandy Community and Technical College, Gateway Community and Technical College, and Maysville Community and Technical College. The 13-year project is valued at $4,662,066. To achieve the savings, the four colleges will receive lighting, water, electrical, mechanical, controls and building retrofits, and upgrades.
“We are pleased to work with Ameresco on this important initiative,” said KCTCS President Michael B. McCall. “We have seen the value of and benefitted from similar projects at the other KCTCS colleges. Our partnership with Ameresco will complete this work for KCTCS.”
This final ESPC project completes energy efficiency projects at all 16 KCTCS colleges. When the collective ESPC projects are completed at all KCTCS colleges, KCTCS will have saved an estimated $27 million (or $2.2 million annually), and reduced total energy consumption by 17 percent along with a 26 percent reduction of water and sewer consumption. Energy consumption savings result from using less electric and gas.
“We are honored to partner with KCTCS to make these needed budget-neutral infrastructure upgrades and assist in greater energy efficiency without the additional burden to their budgets,” said Bill Skosky, Vice President, Ameresco. “Ameresco works with customers throughout the South and across the country, and we look forward to delivering real economic and environmental benefits to these college communities.”
As part of the ESPC project with KCTCS, Ameresco was selected through a competitive proposal process to audit and assess facilities. This enabled the colleges to uncover potential utility and operational cost savings, which can then be reinvested in other institutional needs on a budget-neutral basis. Ameresco will guarantee a level of energy savings over the term of the contract. The dollars saved from the project will exceed the cash requirements for the project, offsetting the costs of these improvements.
Energy efficiency improvements include the implementation of infrastructure repair or upgrades such as boiler and HVAC replacements. The program is expected to reduce the overall operating costs of the four community and technical colleges included in the Ameresco ESPC project by more than $480,000 each year and is designed to significantly decrease KCTCS’ environmental impact. The project’s energy usage savings are expected to reduce the four community and technical colleges’ combined annual carbon dioxide (CO2) emissions by more than 2,800 metric tons each year. This annual reduction in CO2 emissions is equivalent to each of the following:
- Removing approximately 555 typical passenger cars from the road
- Removing the electrical usage of more than 353 typical homes
- Reducing the equivalent of more than 6,575 barrels of oil consumption
Ameresco executed ESPC projects with counties, schools, state agencies, colleges and other entities across North America on energy efficiency and renewable energy projects and upgrades.
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, MA, Ameresco provides local expertise through its 62 offices in 34 states and five Canadian provinces. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.
About Kentucky Community & Technical College System (KCTCS)
KCTCS is the largest institution of higher education in Kentucky, educating more than 50 percent of all undergraduate students enrolled in public higher education and serving as the major pipeline for job creation, the employability of Kentucky citizens, and the economic prosperity of families and communities. Its system of 16 two-year colleges on 68 campuses is located within a 30 minute drive of 95 percent of every citizen in the state.
KCTCS is where higher education begins for most Kentuckians.
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