Ameresco Announces Work on Energy Efficiency Project at Nevada’s Fourth Largest School District
23 buildings to be upgraded as part of $3.6 million Energy Savings Performance Contract with Lyon County School District
FRAMINGHAM, MA and LYON COUNTY, NV – March 22, 2012 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today its Energy Savings Performance Contract (ESPC) with Lyon County School District (LCSD) in western Nevada. The $3.6 million ESPC is expected to save the state’s fourth largest school district over $345,000 annually for 15 years.
LCSD includes one of the oldest continuously operating schools in the state, and serves approximately 8,400 students. The comprehensive energy efficiency project comprises infrastructure upgrades to 19 schools and 4 administrative buildings representing over 1.2 million square feet of facilities. LCSD serves the entire county with schools in the communities of Dayton, Fernley, Silver Springs, Smith Valley and Yerington. There are eight elementary schools, five middle schools, four high schools, one K-12 school and the Western Nevada Regional Youth Center (an alternative school).
“Lyon County School District is proud of the relationship it has developed with Ameresco. We have been extremely pleased with their professionalism, expertise and commitment to the District’s project,” said Keith Savage, Deputy Superintendent of Lyon County School District. “The bottom line is that Ameresco delivers what they say they will deliver.”
As part of its projects, Ameresco can facilitate financing for energy efficiency and renewable energy upgrades. Under an ESPC, it guarantees energy cost savings for the duration of the contract. LCSD will repay the up-front costs with a portion of their projected annual savings over the contract’s 15 years.
Energy efficiency measures scheduled for completion by October 2012 include lighting systems, vending machine controls, computer power management, trash compactors, demand controlled ventilation and programmable thermostats.
“As one of the largest school districts in Nevada, Lyon County School District is setting a powerful example for other districts and communities,” said B.N. Tripathi, Vice President, Ameresco. “We are pleased to partner with such a forward-looking school district. We worked to ensure that this project has both short- and long-term benefits by hiring local contractors and vendors to complete the project. In addition, we have set up a scholarship program that will benefit several graduating seniors.”
Not only will the energy conservation measures reduce energy demand and consumption, but they are expected to cut LCSD’s operations and maintenance costs by nearly $25,000 by retrofitting light installations district wide. Another strategic benefit to LCSD is long-term, non-obsolescent assets that continue to deliver cash flow and reliability benefits beyond term for debt service. Making these energy efficiency upgrades also allows the district to capture $77,000 in rebates from the local natural gas and electric utility companies.
The greenhouse gas reduction benefits of the LCSD upgrades include the avoidance of 1,928 standard tons of carbon dioxide per year. This reduction in carbon dioxide emissions is equivalent to removing 364 cars from the road or powering 208 homes each year.
Ameresco has a long history of partnering with schools, municipalities and commercial entities to improve energy infrastructure and install renewable energy technologies. Their pioneering of the ESPC financing model has made the budget-neutral solution an increasingly popular option for customers in the southwest and across North America.
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.