Thirty-three state-owned buildings on five islands to be upgraded as part of Energy Savings Performance Contract
FRAMINGHAM, MA and HONOLULU, HAWAII – December 2, 2013 – Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today the Company is commencing implementation of a $17.4 million Energy Savings Performance Contract (ESPC) with the State of Hawaii Department of Accounting and General Services (DAGS). This ESPC project is expected to save DAGS more than a million dollars in the first year and lower operational costs by $28 million over the 20 year term. The scope of this ESPC project will incorporate 22 energy conservation and renewable energy measures across 33 state-owned buildings on the islands of Kauai, Oahu, Molokai, Maui and Hawaii's Big Island.
“I commend DAGS and Ameresco for working together in developing a comprehensive efficiency and renewable energy project that is on target with our commitment to energy independence and sustainability,” Gov. Neil Abercrombie said. “Ameresco’s innovative approach will assist DAGS in reaching its energy savings and emission reduction goals.”
The design-build DAGS project is expected to reduce energy and water consumption through the installation of state-of-the-art technology in the 33 buildings, and will also generate renewable energy at 13 facilities. The approximate two year design build implementation period will include energy conservation measures such as replacing or retrofitting 13,000 light fixtures, expanding the energy management system (EMS) to include 2,750 control points, installing seven new chillers with state-of-the art bearing-less compressors, and replacing 53 transformers with premium efficiency custom-wound transformers. The new photovoltaic (PV) arrays will consist of over 3,370 solar panels connected to 17 inverters spread across the five islands.
The new solar arrays are expected to cumulatively generate about 1.3 million kilowatt hours a year in renewable power from the sun, which will help DAGS facilities lower the state’s dependence on electricity produced from fossil-fueled power plants.
The annual emissions reduction is expected to be approximately 5.6 million pounds of CO2, 14,200 pounds of SO2, and 12,700 pounds of N2O, the equivalent of taking 466 cars off the road.
“While creating local economic opportunity, Ameresco is excited to play a key role in supporting the State of Hawaii’s Clean Energy Initiative and contributing to its ambitious quest to satisfy 70 percent of its energy needs by 2030 through energy efficiency and renewable energy,” said David J. Anderson, Executive Vice President, Ameresco.
Ameresco has a long history of partnering with public agencies across North America to improve energy infrastructure and install renewable energy technologies. Ameresco’s pioneering of the ESPC financing model has made the budget-neutral solution an increasingly popular option for customers, by providing energy efficiency upgrades using a guaranteed savings approach. Ameresco coordinates the upfront project costs and the customer repays that investment with their energy savings over time.
The Department of Accounting and General Services or DAGS, headed by State Comptroller Dean H. Seki, is responsible for managing state office buildings and providing centralized engineering and technical support services for a wide range of state programs and activities. For more information, visit http://ags.hawaii.gov/.
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 70 offices in 33 states, five Canadian provinces and the United Kingdom. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.
The announcement of a customer’s entry into or commencement of 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.
Download a PDF of this release