Ameresco Begins Phase Two of Energy Savings Project at the Medical University of South Carolina
Energy solutions company begins second phase of the comprehensive energy savings project
FRAMINGHAM, Mass. – September 30, 2019 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced that it has begun phase two of a comprehensive energy savings project at the Medical University of South Carolina (MUSC), one of the nation’s top academic health science centers and the largest medical school in South Carolina. MUSC financed this project under an energy savings performance contract (ESPC) and will have Ameresco implement numerous energy conservation measures at 50 campus facilities. The combined project value for the two phases Ameresco has contracted with the University totals more than $43 million dollars in infrastructure improvements.
Founded in 1824, MUSC is the largest non-federal employer in Charleston, S.C., consisting of six colleges and a 700-bed hospital complex. The University contracted Ameresco in March 2019 to design, commission, install and monitor new equipment and energy management systems at half of the facilities on its campus, which are projected to generate $3,271,000 in annual energy cost savings.
“The project with Ameresco demonstrates the university’s commitment to energy conservation and maintaining sustainable facilities and operating practices,” said MUSC Chief Facilities Officer Greg Weigle. “Additionally, this cutting-edge work will directly benefit the students by creating a cleaner and more comfortable learning environment.”
The comprehensive energy conservation measures Ameresco will be implementing include replacement of campus lighting fixtures with high-efficiency LEDs, installation of building automation and control systems, upgrading HVAC systems and chiller plant optimization. Under its 15-year contract term, Ameresco will also train university staff on how to operate and maintain its new equipment and systems.
“The university pursued this second phase of the project based on the superior financial and operational performance success delivered from the initial project phase implemented in 2008,” said David J. Anderson, Executive Vice President and Director at Ameresco. “We are proud to continue our successful partnership with the university and to help it achieve its energy efficiency and sustainability goals.”
MUSC will benefit from significant reductions in energy consumption, reduced utility cost savings and improved facility environmental conditions. Additionally, the project addresses capital deferred maintenance needs funded entirely from guaranteed savings. This second phase will also improve facility operational efficiencies, preserve capital to address other campus improvement needs, and enhance the academic learning environment for its students and faculty.
About The Medical University of South Carolina
Founded in 1824 in Charleston, MUSC is the oldest medical school in the South, as well as the state’s only integrated, academic health sciences center with a unique charge to serve the state through education, research and patient care. Each year, MUSC educates and trains more than 3,000 students and 700 residents in six colleges: Dental Medicine, Graduate Studies, Health Professions, Medicine, Nursing and Pharmacy. The state’s leader in obtaining biomedical research funds, in fiscal year 2018, MUSC set a new high, bringing in more than $276.5 million. For information on academic programs, visit http://musc.edu.
As the clinical health system of the Medical University of South Carolina, MUSC Health is dedicated to delivering the highest quality patient care available, while training generations of competent, compassionate health care providers to serve the people of South Carolina and beyond. Comprising some 1,600 beds, more than 100 outreach sites, the MUSC College of Medicine, the physicians’ practice plan, and nearly 275 telehealth locations, MUSC Health owns and operates eight hospitals situated in Charleston, Chester, Florence, Lancaster and Marion counties. In 2018, for the fourth consecutive year, U.S. News & World Report named MUSC Health the No. 1 hospital in South Carolina. To learn more about clinical patient services, visit http://muschealth.org.
MUSC and its affiliates have collective annual budgets of $3 billion. The more than 17,000 MUSC team members include world-class faculty, physicians, specialty providers and scientists who deliver groundbreaking education, research, technology and patient care.
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 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 Ameresco’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 project backlog. This project was included in our previously reported contracted backlog as of June 30, 2019.