Ameresco and Mountain Regional Water Celebrate Completion of Utah’s First Floating Solar Project at Signal Hill

Innovative project to power Signal Hill Water Treatment Plant with renewable energy, offsetting 92% of the plant’s grid energy consumption and reducing energy costs by 80%

FRAMINGHAM, MA & PARK CITY, UT– September 26, 2024 – Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today celebrated the completion of Utah’s first floating solar array, developed in partnership with Mountain Regional Water Special Service District. The floating solar project, located on a holding pond at the Signal Hill Water Treatment Plant, was commemorated with a ribbon-cutting ceremony attended by representatives from Ameresco, Mountain Regional Water, and Rocky Mountain Power.

Ameresco partnered with the leading floating PV developer, D3Energy, to develop the innovative 587.5 KW floating solar array, supported by a $400,000 grant from Rocky Mountain Power’s Blue Sky Award program, is designed to generate 871,086 kilowatt-hours of clean energy annually. The project is designed to reduce carbon dioxide emissions by 609 metric tons each year, which is the equivalent to eliminating 68,474 gallons of gasoline consumption or preventing the burning of 670,649 pounds of coal. By providing electricity directly to the water treatment plant, the system will offset 92% of the plant’s grid energy consumption and reduce energy costs by 80%.

“This floating solar array demonstrates the benefit of thinking beyond conventional approaches,” said Lou Maltezos, Executive Vice President of Ameresco. “The notion that solar panels must be installed on land is an unnecessary limitation. By reconsidering their placement, we unlock new opportunities for sustainability. The District isn’t just implementing solar energy for its own sake – they are deeply invested in the economic aspects of this project. This first-ever floating solar array in Utah is both innovative and economically feasible, making it a prime example of sustainable development.”

The floating solar array efficiently uses available water surfaces to generate renewable energy, providing an ideal solution for maximizing energy production without impacting land resources.

“Traditional ground or rooftop solar wasn’t an option for us at this facility, but this innovative floating solar installation makes use of an untapped resource,” said Chris Braun, Mountain Regional Chief Technology Officer. “This is one more piece of the puzzle for us to get to a ‘Net-Zero’ energy goal as we strive to be responsible stewards for the community and the environment.”

“For over 20 years, the Blue Sky program has offered Rocky Mountain Power customers a simple and powerful way to reduce their carbon footprint and support renewable energy while simply living their lives,” said Shawn Grant, Director of Customer Solutions at Rocky Mountain Power. “From installing new solar panels to helping community organizations reduce operating costs to launching innovative battery projects, we are committed to fostering sustainable, renewable energy for generations to come.”

The project was completed ahead of schedule, with construction finalized by September 10, 2024, and commissioning completed on September 20th. Full utility permission to operate is expected by October 23, 2024.

Rocky Mountain Power’s Blue Sky program awarded this project to the Mountain Regional Water Service District as one of a dozen community-based renewable energy projects awarded in 2023. Blue Sky is an opt-in program that gives Rocky Mountain Power customers the option to match all or part of their energy use with renewable energy, reducing their carbon footprints and driving demand for new renewable energy in the West. Since 2006, Blue Sky program participants have helped fund over 216 new, community-based renewable energy projects in Utah, Idaho and Wyoming communities. In 2023, more than 138,000 Blue Sky participants collectively supported 1,021,063 megawatt-hours of renewable energy, reducing their combined carbon footprints by 639,180 tons of carbon dioxide equivalent.

For more information about Ameresco, visit www.ameresco.com.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes solutions that help customers reduce costs, decarbonize to net zero, and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

About Mountain Regional Water

Mountain Regional Special Service District is a governmental public water supply entity created and governed by the Summit County Council. The district provides drinking water services to the Snyderville Basin area of Park City, Utah. The district was formed in January of 2000 to unify, repair, and upgrade many of the failing water systems in western Summit County which were struggling with water availability and water quality issues. The district continues to be a leading example of energy efficiency in water delivery systems in the state of Utah and has received national awards for its efforts. For more information, visit www.mtregional.org.

About Rocky Mountain Power 

Rocky Mountain Power provides safe and reliable electric service to more than 1.1 million customers in Utah, Wyoming and Idaho. The company supplies customers with electricity from a diverse portfolio of generating plants including hydroelectric, thermal, wind, geothermal and solar resources. Rocky Mountain Power is part of PacifiCorp, one of the lowest-cost electricity providers in the United States, with two million customers in six western states. For more information, visit www.rockymountainpower.net.

About D3Energy

D3Energy has been at the forefront of floating solar innovation since 2015, exclusively focusing on the development and construction of floating solar systems. As the market leader in the industry, D3Energy has built more floating PV systems than any other company in the United States. With a commitment to providing sustainable, water-based solar energy solutions, D3Energy continues to push the boundaries of renewable energy, delivering impactful and efficient projects that make use of otherwise underutilized water surfaces.

The announcement of completion of a customer’s project contract is not necessarily indicative of the timing or amount of revenue from such contract, of Ameresco’s overall revenue for any particular period or of trends in Ameresco’s overall total project backlog. This project was included in Ameresco’s previously reported contracted backlog as of June 30, 2024.