Ameresco Contracted Major Energy Efficiency Project in Virginia

$7.3 million project is expected to provide Shenandoah County Public Schools with annual energy savings of nearly $500,000

FRAMINGHAM, MA – March 15, 2011 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it has entered into an energy savings performance contract (ESPC) with Shenandoah County Public Schools, located 90 miles west of Washington, D.C. in the northern Shenandoah Valley of Virginia.  As part of the contract, Ameresco will provide energy efficiency upgrades to 10 schools in Shenandoah County, as well as the school division’s bus garage and maintenance shop.  The $7.3 million project is expected to provide annual energy savings of $480,000 over a 16-year term.

“We are delighted to be working with Shenandoah County Public Schools on this energy efficiency project, which happens to be one of the biggest of its kind to utilize the ARRA funds for energy improvements in the State of Virginia,” said John L. Bosch, Vice President, Ameresco.  “This project is expected to bring about significant energy savings to Shenandoah County, reduce their carbon footprint and streamline maintenance tasks going forward.”

Ameresco worked with Shenandoah County Public Schools to complete the Qualified School Construction Bonds (QSCB) application.  The Shenandoah County Public Schools were awarded an interest free $7.3 million grant through the QSCB under the American Recovery and Reinvestment Act (ARRA).  The annual savings are expected to exceed $480,000, generating a positive cash flow for the schools over the term of the project.

“Ameresco has been an excellent partner throughout this entire process and we are excited to get this project underway and make our schools more energy efficient,” said Dr. Keith Rowland, Superintendent of Shenandoah County Public Schools.  “Our schools have always upheld a tradition of excellence, commitment to continuous improvement, and confidence in future success.  This project will help us support these traditions by opening up additional funding that can be put back into our children’s curriculum.”
Ameresco completed a thorough energy performance audit in order to better understand the facilities’ baseline energy and other utility consumption. Ameresco will design and install the following energy conservation measures for Shenandoah:

•    Lighting and lighting controls
•    Water conservation
•    Controls upgrade and expansion
•    Unit ventilator replacement and Direct Digital Controls
•    Multizone unit conversion
•    Boiler replacements
•    Variable speed pumping strategies, both hot and chilled water
•    Transformer replacements

The 12 facilities (10 schools) include: Ashby Lee Elementary School, Sandy Hook Elementary School, W.W. Robinson Elementary School, North Fork Middle School, Peter Muhlenberg Middle School, Signal Knob Middle School, Central High School, Stonewall Jackson High School, Strasburg High School, Triplett Technical & Business Institute, as well as the bus garage and maintenance facility.

About Ameresco, Inc.

Ameresco, Inc. was incorporated in Delaware in April 2000 and is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for facilities throughout North America.  Ameresco’s solutions include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants.  With corporate headquarters located in Framingham, MA, Ameresco has 55 offices in 29 states and four Canadian provinces.  For more information, visit www.ameresco.com.

About Shenandoah County Public Schools

Nestled between the Alleghany and Massanutten Mountains, the Shenandoah County Public School division is located in the northern Shenandoah Valley of Virginia.  The school division has approximately 6,100 students enrolled in three elementary schools, three middle schools, three secondary schools, a vocational/technical school, and a regional governor’s school for Environmental Science.  The Shenandoah County school system is committed to excellence and has high expectations for all students in Kindergarten through Grade 12.  The curriculum provides for continuous progress and focuses on how students learn and develop.  All Shenandoah County Public Schools are fully accredited.