Ameresco and West Texas A&M University Announce the University’s Largest Single Energy Reduction and Modernization Project
FRAMINGHAM, MA and CANYON, TX – November 15, 2018 – Ameresco, Inc. (NYSE: AMRC), a leading energy efficiency and renewable energy company, today announced a partnership to begin construction on a $14.4 million Campus Energy Reduction and Modernization Project at West Texas A&M University.
The Energy Consumption Reduction Project was initiated to help guide the physical operations of the university to achieve meaningful reductions of the university’s carbon footprint in energy usage, utility consumption, and energy cost through the implementation of infrastructure and modernization upgrades. The project is underway and is scheduled to be completed by September 2019. Upon completion, the project will average over $1.1 million in annual energy and water savings for the university, thus all of the improvements are being funded in a budget neutral manner without the need for additional capital budget dollars.
“This project will positively impact energy and water conservation more than any other single initiative in West Texas A&M University’s history,” said Stan Pena, Director of Facilities and Construction. “This project was developed through collaboration with our Office of Business and Finance, SSC facilities team, the Texas A&M University System’s Office of Facilities Planning & Construction, and Ameresco, our energy partner. We are also thankful for the support of Utilities & Energy Services at Texas A&M and the City of Canyon.”
Energy conservation and modernization measures will be implemented throughout 31 campus buildings and include retrofitting interior and exterior lighting to new high efficiency light emitting diode (LED) technology, improvements to the campus heating and cooling systems, water conservation measures, and automated controls that allow for the improved tracking of energy consumption on campus.
“Ameresco is honored to be working with West Texas A&M University to modernize their buildings through energy efficiency upgrades and realize a continued return on investment,” said Robert Georgeoff, Vice President, Ameresco. “This project demonstrates leadership and the university’s commitment to energy management, financial stewardship and environmental sustainability.”
Ameresco is implementing the $14.4 million project under an Energy Services Agreement that provides a guarantee of annual energy savings to the university through 2037. In addition to annual energy and water savings, the university realize an annual carbon reduction benefit that is the equivalent to
removing 2,050 passenger cars from the road; or
carbon dioxide emissions from over 1 million gallons of gasoline consumed annually; or
the environmental benefit of 242,015 tree seedlings grown for 10 years; or
greenhouse gas emissions avoided by not landfilling over 3,418 tons of waste
“As stewards to the taxpayers of the State of Texas, it is essential that we do everything in our power to keep the cost of our students’ education reasonable and affordable,” Randy Rikel, West Texas A&M University’s Vice President for Business and Finance, said. “This project will be paid 100 percent from the energy and water savings, so additional funding is not needed. This partnership with Ameresco achieves these goals, plus it reduces our energy and water demand now, thereby benefiting the environment.”
About West Texas A&M University
West Texas A&M University, part of The Texas A&M University System, is a four-year public university that serves a diverse population of more than 10,000 students. The University attracts students from 48 states, not counting the District of Columbia, Guam, Puerto Rico and other U.S. dependencies, and more than 60 countries. Admission is determined through selective criteria, and first-generation students account for a large percentage of the University’s student population. Students who come to WTAMU find a friendly campus where faculty are accessible, administrators are approachable, undergraduates are taught by tenured professors, and names are still more important than numbers. They enjoy a university atmosphere that is committed to personal attention and teaching excellence and where ideas are always encouraged so that meaningful careers can be born. WTAMU is a growing, dynamic university that is well prepared to meet the educational needs of a growing student population for years to come.
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 businesses and organizations throughout North America and Europe. Ameresco’s sustainability 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 has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
The announcement of a customer’s entry into 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. This project was reported in our contracted backlog as of September 30, 2018.