Ameresco Partners with Gordon-Rushville Public School District #10 for Comprehensive ESPC Project
Project addresses efficiency measures and infrastructure upgrades at three schools and is expected to save approximately 31% of the schools’ annual energy spend.
FRAMINGHAM, MA and Gordon, NE – May 12, 2015 – Ameresco, Inc. (NYSE: AMRC), a leading energy efficiency and renewable energy company, and the Gordon-Rushville Public School District announced today that they are partnering on a comprehensive $5.8 million Energy Savings Performance Contract (ESPC) to improve and enhance the overall energy efficiency of Gordon-Rushville High School, Gordon-Rushville Middle School, and Gordon Elementary School.
As part of the guaranteed savings project, Ameresco conducted a detailed Investment Grade Audit (IGA) of nearly 130,000 square feet of school building space and identified comprehensive energy efficiency projects and related capital improvement measures that it will design, construct, and commission. Some of the updates include the modernization of school buildings; replacement of heating systems with new heating/cooling rooftop units and ground source heat pump units; greater structural integrity including replacement of windows with premium efficiency dual-pane windows and partial roof repair and replacement; and replacement of existing lighting with new enhanced LED lighting. In addition, Ameresco assisted with procurement, helping to secure low interest financing, rebates, and utility cost savings to support the project.
“The District had undergone several years of deferring maintenance while recovering from some financial difficulties,” stated Merrell Nelsen, Superintendent of Gordon-Rushville Public Schools. “When we were finally able to get back on track, we hired Ameresco to conduct a study of our facilities to help identify the areas of greatest need of improvement and those that would result in the most significant energy savings.”
“The Ameresco team put together the figures to update our facilities, assisted us in obtaining low-interest financing, and even worked with us to help gain the Department of Education’s approval of an allocation of Qualified Zone Academy Bonds (QZAB) in the amount of up to $2.5 million that will allow the sale of tax-exempt bonds for financing part of the project,” continued Nelsen.
The District received an additional bonus from the QZAB funding by associating with A+ Educators who will provide a contribution of more than $240,000 toward programs that improve the education of the students. In addition, due to the large quantity of lighting fixtures expected to be retrofitted to LEDs, the District’s utility provider created a custom rebate program which resulted in $41,465 in rebates for the school district.
“Ameresco is excited to partner with the District to provide an energy savings performance contract solution that allows the District to fund critical infrastructure upgrades and innovative energy saving initiatives in the schools without incurring additional capital costs to local taxpayers,” said Louis Maltezos, Executive Vice President, Ameresco. “The District is taking a proactive approach to enhancing the physical learning environment for its students and staff at the schools, while being fiscally prudent utilizing a budget-neutral solution for the efficiency upgrades.”
The project is expected to be completed by October, 2015
The environmental benefits from the measures being provided in this project are expected to reduce natural gas and electricity consumption, resulting in a 27.8% reduction in CO2, which is equivalent to the carbon sequestered by 1,142 tree seedlings grown for 10 years or eliminating 53 passenger vehicles from the road annually.
Ameresco has a long history of partnering with counties, school districts, municipalities and commercial entities to improve energy infrastructure and install renewable energy technologies. The ESPC financing model is an increasingly popular option for customers across North America, enabling budget-neutral energy efficiency upgrades by guaranteeing a minimum level of energy savings over the term of the contract. Ameresco coordinates the upfront project costs and the school district repays that investment with their energy savings over time.
About Gordon-Rushville Public Schools
Gordon-Rushville Public Schools is a consolidated school district located in rural northwestern Nebraska 18 miles from the South Dakota border and 400 miles west of Lincoln. The district encompasses 2400 square miles in Sheridan and Cherry counties. The blue and orange Mustangs have been consolidated since 2005. The high school and an elementary school are located in Gordon, the middle school and an elementary school are located in Rushville, and there are three rural attendance centers in the district. Presently, the district has 700 PK-12 students, 77 certified teachers, five administrators and 30 support staff members. The Mission of Gordon-Rushville Schools is to have a safe environment where everyone strives to be life-long, productive, and successful learners. For more information, visit http://www.grmustangs.org/schools.
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 Ameresco’s overall revenue for any particular period or of trends in Ameresco’s overall total construction backlog.