Five campus buildings to be upgraded as part of Energy Savings Performance Contract – improving the comfort of facilities, delivering energy savings, and reducing the University’s carbon footprint
FRAMINGHAM, MA and CHICAGO, IL– October 2, 2013 – Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today the Company is commencing implementation of a $63.6 million Energy Savings Performance Contract (ESPC) for the University of Illinois at Chicago, as approved by the University of Illinois Board of Trustees. The project is expected to save the University more than $1.8 million in avoided energy costs annually for the 20 year term, and includes energy efficiency and infrastructure upgrades to UIC’s Science and Engineering Laboratories Complex, consisting of four teaching and laboratory buildings and a supporting office building, totaling more than 1.2 million square feet.
“UIC is a leader in campus sustainability among Chicago-area higher education institutions,” said UIC Chancellor Paula Allen-Meares. “We expect the project to yield immediate cost-savings for UIC, but more importantly, it supports UIC’s Climate Action Plan and will help meet our goal to reduce our carbon emissions at least 80 percent by 2050.”
The project will also create many jobs during and after construction, Allen-Meares said, “supporting the economic vitality of our neighboring community.”
Cindy Klein-Banai, Associate Chancellor for Sustainability, said the partnership with Ameresco “will create more efficient buildings and reduce our energy use, allowing us to significantly reduce our carbon footprint.” Klein-Banai said the annual emissions reduction will be approximately 9,219 metric tons of CO2, the equivalent of taking 1,921 cars off the road or planting 71 acres of trees.
The approximate two year-long construction period will include infrastructure upgrades as well as energy conservation measures such as new and re-commissioned air handling units, HVAC control systems and equipment, chilled beam, new high performance fume hoods, lighting retrofits, weatherization of building envelope, and the installation of energy recovery systems.
“Ameresco is honored to have partnered with the UIC team for the past few years to identify the solution to support the University’s unique requirements, and we are delighted to have been selected to aid in meeting their efficiency and sustainability goals,” said Louis P. Maltezos, Executive Vice President, Ameresco. “The energy improvements are expected to enhance the comfort of the facilities for students, faculty and staff, while the budget-neutral ESPC delivers meaningful dollar savings to the University and provides environmental benefits that support UIC’s sustainability platform.”
Ameresco has worked with higher education campuses across North America to stabilize and reduce ongoing utility costs through energy infrastructure upgrades, including complete campus plant solutions and education outreach. Ameresco partners with organizations on projects of all sizes with its budget-neutral ESPC model, from modernizing a single facility to providing comprehensive campus-wide central plant replacements. These projects are financed primarily with future energy savings, without burdensome up-front capital investments, and are built from best-in-class energy-efficient and renewable energy solutions.
UIC ranks among the nation's leading research universities and is Chicago's largest university with 27,500 students, 12,000 faculty and staff, 15 colleges and the state’s major public medical center. A hallmark of the campus is the Great Cities Commitment, through which UIC faculty, students and staff engage with community, corporate, foundation and government partners to improve the quality of life in metropolitan areas around the world.
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 66 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