City of Revere, City of Lowell and City of Lynn Recognized with Awards for Innovative Energy Solutions in New England
Association of Energy Engineers New England recognized three energy efficiency projects developed by Ameresco for the City of Revere, the City of Lowell and the Lynn Housing Authority and Neighborhood Development with Performance Contract of the Year and Renewable Energy Project of the Year
Framingham, MA – March 10, 2011 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that three of its customers, two municipalities and a public housing authority, have been recognized by the Association of Energy Engineers New England (AEENE) for innovation and leadership in providing energy saving solutions.
The City of Revere was recognized with “Performance Contract of the Year - Public” for its budget-neutral project under an energy performance contract. The City of Lowell’s photovoltaic project and PPA with Ameresco received “Renewable Energy Project of the Year”. In addition, the Lynn Housing Authority and Neighborhood Development was awarded an Honorable Mention in the category of “Performance Contract of the Year - Public” for its energy saving project with Ameresco.
Each of the three award recipients utilized an energy savings performance contract (ESPC) as a budget-neutral way to reduce energy use and associated costs, and renew facilities and building systems without burdening shrinking capital budgets. Under an ESPC, Ameresco pays all costs involved in identifying and installing the upgraded energy-efficiency equipment. The resulting cost savings offsets the costs of these improvements. Ameresco also provides the savings verification.
For the City of Lowell, Ameresco identified an alternative to implement a larger renewable energy project by contracting under a power purchase agreement (PPA). Ameresco is responsible for the implementation, ownership and operation of the photovoltaic arrays on the City buildings. The City benefits from a regular source of renewable energy at a fixed price over 20 years.
“We are proud that our customers’ projects are recipients of the AEENE Awards,” stated David J. Anderson, Executive Vice President, Ameresco. “The awards are a tribute to these community leaders for their commitment to sustainability initiatives. In fiscally challenging times, each of their infrastructure projects demonstrates how the combination of energy efficiency and renewable energy solutions help to effectively reduce energy use, utility expense and greenhouse gas emissions without tapping into capital budgets.
Ameresco’s customers were recognized for the following awards:
- “Performance Contract of the Year (Public)” – The City of Revere partnered with Ameresco on a $10.3M performance contract and renewable energy project, focusing on the City’s schools, guaranteeing expected annual savings of at least $685,982 for the City. Over the 15-year project term, the combined energy and operational savings will pay for the project and are expected to eclipse $13 million.
- “Renewable Energy Project of the Year” – The City of Lowell partnered with Ameresco to identify significant opportunities for photovoltaic power generation throughout the City and uncovered ways for Lowell to lock in energy prices for the next 20 years through a power purchase agreement.
- Honorable Mention for “Performance Contract of the Year (Public)” –The Lynn Housing Authority and Neighborhood Development partnered with Ameresco on an Energy Savings Performance Contract, identifying, designing, implementing and structuring the finance for improvements that increase tenant comfort and are expected to save the Authority over $600,000 per year on energy savings.
AEENE’s annual Energy Project Awards recognize select energy projects for their achievement in attaining comprehensive energy efficiency savings and utilization of creative financing methods to assist in implementing these projects.
“We are pleased to recognize Ameresco’s projects and customers for their outstanding accomplishments and contribution in promoting the practices, principles and procedures of energy engineering and for leading the way with their great project work,” stated Brian Crafts, President of the AEENE.
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.
The Association of Energy Engineers New England advocates for sustainable energy policies in a competitive environment at affordable prices. They sustain a network of energy practitioners with demonstrated competencies over a range of energy issues, working to influence decisions enabling reliable and affordable energy supplies that minimize environmental impact.