Energy efficiency upgrades have delivered over $1.5 million in annual savings; the latest phase will feature installation of rooftop solar and wind power systems
Framingham, MA – February 23, 2011 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it has initiated the third phase of its Energy Performance Contract (EPC) with the Akron Metropolitan Housing Authority (AMHA) in Akron, Ohio. With the addition of the $4.8 million third phase of the project, the $14.5 million portfolio-wide utility conservation program (including all three phases) is expected to deliver approximately $23 million in savings to AMHA over the term of the contract.
Ameresco’s phased project involves the majority of AMHA’s 4,379-unit portfolio, with 3,719 units in 34 large complexes and 660 scattered site units, which are primarily single-family homes. The third phase of the EPC, which was recently executed and financed, features an extension of the project term to perform additional boiler room and ventilation work and to install thermostatic controls, two solar photovoltaic rooftop systems and a rooftop wind generation system.
“We are pleased to continue this energy performance contract with Ameresco, which has empowered AMHA to be more efficient, save financial resources, and to be more responsive to environmental needs. These projects not only improve the performance of our buildings, but convert excess utility costs into jobs for local businesses,” said Tony O’Leary, Executive Director of the Akron Metropolitan Housing Authority. “In particular, we are proud that this new phase will include the installation of rooftop solar and wind power systems, which will serve as a very visible demonstration of our commitment to clean and renewable energy sources.”
Ameresco began working with AMHA in 2003 on energy efficiency measures that have resulted in a comprehensive water and lighting efficiency program as part of the first phase and a mechanical measure conservation program in the second phase. Including the third phase of this project, annual energy savings are expected to average over $1.5 million, with anticipated emission reductions equivalent to removing 4,952 metric tons of carbon dioxide from the atmosphere a year. The reduction in greenhouse gas emissions is roughly equivalent to reducing 557,054 gallons of gasoline burned or removing 947 cars from the road annually.
“We are excited to expand and continue our successful partnership with the Akron Metropolitan Housing Authority, which is a very forward-thinking organization that has shown great commitment to its facilities and residents while reducing its overall carbon footprint,” said David J. Anderson, Executive Vice President, Ameresco. “Our public housing team shares this commitment and views its work as more than just getting great results for our Housing Authority clients, but ensuring that these energy efficiency improvements have a positive impact on the people that call these facilities home.”
Ameresco’s Public Housing Group focuses exclusively on publicly assisted multi-family housing facilities of 50 apartments or more, which includes more than 14 million U.S. households. By leveraging performance contracting, a practice pioneered by Ameresco staff to address the $4 billion that HUD spends on public housing energy bills each year, the company has helped to significantly reduce utility costs using a performance-oriented approach that strategically addresses equipment and systems, energy management and resident education.
With more than 25 years of experience, Ameresco’s public housing energy specialists have executed performance contracts with project capital exceeding $450 million, more than any other North American energy services company in this sector. As of today, Ameresco’s contracts impact over 125,000 households under performance-based energy and water services contracts.
About Ameresco, Inc.
Ameresco, Inc. was incorporated in Delaware in April 2000 and is a leading independent provider of comprehensive energy efficiency and renewable energy 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 55 offices in 29 states and four Canadian provinces. For more information, visit www.ameresco.com.
About Akron Metropolitan Housing Authority
The Akron Metropolitan Housing Authority (AMHA) is a political subdivision organized under the laws of the State of Ohio. The Authority is responsible for operating certain low-income housing programs in Summit County under programs administered by the U.S. Department of Housing and Urban Development (HUD). AMHA is committed to building stronger neighborhoods by providing quality housing options and professional services for eligible residents of Summit County in partnership with the greater community. AMHA is committed to providing attractive, safe and affordable housing options and services for all eligible families, elderly and individuals with special needs, in a professional and caring manner.
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