Brockton Housing Authority is the latest housing authority to partner with Ameresco on a budget-neutral project that will provide critical infrastructure upgrades and reduce energy costs
FRAMINGHAM, MA and BROCKTON, MA – May 20, 2013 – Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today it has begun work on a $5.7 million energy performance contract (EPC) with the Brockton Housing Authority. The project will provide energy efficient upgrades to more than 1,200 units in seven developments, and is expected to save the Authority more than $400,000 annually.
“Brockton Housing Authority residents will benefit from the energy-related capital upgrades throughout their apartments and common areas, and the Authority will benefit from energy and water cost savings. Overall, the program pays for itself, improves the performance of the buildings and creates local jobs, all of which are priorities for the Authority,” said Thomas G. Thibeault, Acting Executive Director, Brockton Housing Authority. “Partnering with Ameresco made it possible to make budget-neutral upgrades and improvements that the residents will benefit from immediately.”
With construction expected to be completed this year, the project scope includes lighting efficiency improvements, upgraded apartment temperature controls, water conservation measures, energy efficient refrigerators, and new energy efficient windows and sliding doors at the Authority’s Campello high-rise development.
“The Board of Commissioners is committed to reducing energy costs and making public housing more affordable and sustainable for our residents. I commend the Brockton Housing Authority administration for embracing energy efficiency measures to reduce costs and improve the comfort and quality of life for our residents,” stated Timothy J. Sullivan, Chairman, Board of Commissioners.
The U.S. Department of Housing and Urban Development (HUD) energy performance contract program provides incentives to public housing authorities across the country to implement energy and water savings improvements to their housing units. The performance contract with Brockton Housing Authority is expected to make its own dramatic impact, cutting down costs for future infrastructure investment. By leveraging energy performance contracting, a budget-neutral solution that pays for infrastructure upgrades with guaranteed energy savings over time, Brockton Housing Authority will reduce utility costs, upgrade its equipment, and improve resident comfort.
“The Brockton Housing Authority is expected to save more than $10.4 million over the 20-year term,” said David J. Anderson, Executive Vice President, Ameresco. “We have successfully worked with housing authorities, as well as, cities, towns and school districts throughout Massachusetts and the country, to use the EPC model to implement wide-ranging energy and infrastructure upgrades without incurring any out-of-pocket costs or increased taxes.”
With more than 30 years of experience, Ameresco’s public housing energy specialists have implemented performance contracts with project capital exceeding $460 million in this sector, more than any other North American energy services company. Ameresco has improved 130,000 households (and counting) under performance-based energy and water services contracts.
About Brockton Housing Authority
The Brockton Housing Authority manages 1,951 apartments in 16 public housing developments throughout Brockton as well as 1000 rent-assisted apartments/ houses. The approximately 85 employees of the BHA serve about 7,000 residents, or about 7 percent of Brockton's population. The Authority develops affordable private homes for ownership and rental that enable families to move beyond public assistance and become self-sufficient.
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 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 66 offices in 34 states and five Canadian provinces. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.
The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total construction backlog.
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