Worcester Business Journal – Ameresco Completes Energy Conservation Project in Minnesota
Ameresco Inc., a publicly-traded energy company in Framingham, announced on Friday it has completed the second phase of an energy efficiency project for the City of Apple Valley, Minn.
The project was financed by an energy savings performance contract and involved several energy conservation measures implemented citywide. ESPCs are partnerships between a federal agency and an energy service company, according to the U.S. Energy Department. After being selected, the firm conducts an energy audit to identify ways to save energy.
The agreement guarantees that the improvements will generate sufficient energy cost savings to pay for the project over the term of the contract. After the contract ends, all cost savings accrue to the agency.