Ameresco to implement Energy Saving Performance Contract measures at Grayville Community Unit School District #1 during summer break
FRAMINGHAM, MA and GRAYVILLE, IL – May 22, 2012 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced that it has signed an Energy Savings Performance Contract (ESPC) with Grayville Community Unit School District #1 (CUSD #1) in southeast Illinois. As part of the $1.1 million ESPC, Ameresco will perform much needed upgrades to the school’s facility infrastructure over the ten-week summer break.
The Grayville CUSD #1 is located in southeast Illinois, just over the Indiana border. An authentic small town, Grayville boasts a population of just over 1,600 with a student population of 320. Ameresco was engaged by the district in the spring of 2011 to assess pressing infrastructure upgrade needs. Ameresco evaluated structural and environmental improvements in coordination with the Illinois State Board of Education and an independent consulting engineering firm.
“Once the district decided to pursue performance-based contracting, Ameresco was a natural fit,” said Sarah E. Emery, Superintendent of Grayville CUSD #1. “I was introduced to Gene Mackey at an educational conference, and had heard great things about Ameresco from my peers. Gene took an immediate interest in our projects; he really made it easy for the district to move forward.”
The $1.1 million initial phase of the contract was signed in March 2012. The current project includes energy efficiency and environmental improvements such as replacing aged infrastructure materials for health, life and safety (HLS) purposes, implementing ADA accessibility improvements and performing power upgrades. The district issued HLS bonds to fund the project and will realize guaranteed energy and capital savings over the finance period.
“In small communities such as Grayville, every dollar counts. Both the district administration and school board closely evaluated our offering and our team, and we are pleased they have chosen to partner with us on this important assignment,” said Louis P. Maltezos, executive vice president of Ameresco. “We have a long and successful track record of working with local schools and communities throughout Illinois, Indiana and Missouri, and our projects are designed to deliver significant cost savings and needed improvements.”
The district issued an RFP for performance contracting services, received multiple bids, and selected Ameresco. Subsequent to the selection, Ameresco collaborated with the district on a $5 million early education grant application through the State of Illinois. Grant award notifications are expected from the Governor in the next 30 days, and the Grayville district administration is pleased with the submission, recognizing Ameresco as instrumental in assisting with the submission.
As part of the ESPC, Ameresco will handle procurement, design, construction, commissioning and project management. The District will enjoy guaranteed energy savings and significant infrastructure upgrades, improving the facilities’ efficiency and students’ comfort. The company’s ESPC financing model has contributed to making the budget-neutral solution an increasingly popular option for customers in the Midwest 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, MA, Ameresco provides local expertise through its 62 offices in 34 states and five Canadian provinces. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.
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