Alaska Signs Energy Performance Contract with Ameresco to Increase Energy Efficiency in State Facilities
Ameresco to perform audits and implement energy efficient systems for state and university buildings across the state
Framingham, MA and Anchorage, AK – April 26, 2011 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it has entered into a Professional Services Agreement for Energy Savings Performance Contracting (ESPC) with the State of Alaska encompassing all State of Alaska and University of Alaska Fairbanks facilities.
Under this agreement, Ameresco has been selected by the Department of Transportation and Public Facilities (DOT&PF) to perform audits and implement energy efficient systems across the state. Ameresco was one of three contractors to be awarded a three-year term contract that includes two one-year options for renewal. The projects developed and implemented under this agreement are expected to save the State costs while reinvesting in its infrastructure.
“The State of Alaska Department of Transportation and Public Facilities is pleased to be working with Ameresco in helping the State achieve its goals of improving the energy efficiency of its facilities throughout Alaska,” said Christopher Hodgin, Project Manager, DOT&PF.
Under this agreement, Ameresco will perform investment grade audits and comprehensive energy services that will include the design, installation, modification, and commissioning of new and existing energy systems. In addition, it will include the verification and reporting of energy savings and a guarantee of energy savings. The contract encompasses all State and University of Alaska Fairbanks facilities.
“We are proud to be working with the State of Alaska on this ESPC contract,” said Keith Derrington, Executive Vice President, Ameresco. “We applaud the Department of Transportation and Public Facilities for its leadership and we are pleased to be a part of this opportunity to bring our successful history of delivering increased energy efficiency, providing renewable energy services, and proving guaranteed energy savings to Alaska.”
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 and issue an assurance to the State that the cash inflows from the project will exceed the cash requirements for the project, offsetting the costs of these improvements.
Under an ESPC, the State of Alaska has no upfront capital expense for the project, and Ameresco pays the costs involved in identifying and installing the upgraded energy-efficiency equipment. Ameresco will guarantee a minimum level of energy savings over the term of the contract and an assurance to the State that the cash flows from the project will exceed the cash requirements for the project, offsetting the costs of these improvements.
About the Alaska Department of Transportation and Public Facilities
The Alaska Department of Transportation and Public Facilities designs, constructs, operates and maintains the state’s transportation infrastructure systems, buildings, and other facilities used by Alaskans and visitors. These include more than 5,000 miles of paved and gravel highways; more than 300 aviation facilities, including 255 airports; 43 small harbors; and a ferry system covering 3,500 nautical miles serving 34 coastal communities.
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.