Long-term contract delivers savings while advancing the City’s sustainability goals through a series of energy efficiency upgrades and building system retrofits
Framingham, MA – December 21, 2010 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it has entered into a long-term Energy Savings Performance Contract (ESPC) with the City of Greenville, South Carolina. Ameresco developed and is now beginning the installation of a series of system upgrades that will save the City an estimated $330,000 annually over a 15-year term while reducing Greenville’s carbon footprint.
As part of its initial ground work for this project with the City, Ameresco evaluated and analyzed more than 36 municipal facilities for HVAC and lighting efficiencies as well as water conservation measures. Some notable facilities that are part of Ameresco’s ESPC include the Greenville Zoo, the Carolina First Center, and numerous administration office buildings. Construction is now underway on the identified and selected energy efficiency improvements.
“The City of Greenville has embraced sustainability in numerous ways and is actively engaged in initiatives to make the City a more sustainable place to live and work,” said City Manager John Castile. “We selected Ameresco due to the company’s proven expertise and strong reputation, and we view our partnership as a critical component of the City’s long-term sustainability plan.”
The ESPC contract with Ameresco is part of several sustainability initiatives undertaken by the City of Greenville. In 2006, Mayor Knox White signed the U.S Mayors’ Climate Protection Agreement, which was endorsed by the City Council. The City is also a member of both ICLEI-Local Governments for Sustainability and the U.S. Green Building Council. In addition, sustainability is a major theme in the City’s newly adopted Plan-It-Greenville Comprehensive Plan as well as a component of the performance measurements adopted by City Council within the 2010 FY Operating Budget. Additionally, the City Council recently established a new Green Ribbon Advisory Committee.
“We are proud to continue our working relationship with the City of Greenville by entering into the first ESPC initiated by the City. Greenville is showing real leadership by implementing energy efficiency measures city-wide,” said John Bosch, Vice President, Ameresco. “In tight fiscal times, ESPC work, such as the measures we are implementing in Greenville, is an example of how smart cities and municipalities can upgrade existing facilities to lower operating costs while working toward meeting sustainability goals by reducing their carbon footprint.”
An Energy Savings Performance Contract is a budget neutral way to reduce energy use and the associated costs, and renew facilities and building systems without burdening shrinking capital budgets. Under an ESPC, Ameresco identifies and installs upgraded energy efficient equipment. The resulting cost savings generally offsets the costs of these improvements over the term of the contract. Ameresco also will provide savings verification.
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.