Ameresco Partners with Oregon’s South Lane School District for Comprehensive ESPC Project
FRAMINGHAM, MAand COTTAGE GROVE, OR – December 8, 2014 – Ameresco, Inc. (NYSE: AMRC), a leading energy efficiency and renewable energy company, and the South Lane School District announced today they are partnering on a comprehensive $2.1 million Energy Savings Performance Contract (ESPC) to improve eight schools and five support buildings and enhance overall energy efficiency. As part of the guaranteed savings project, Ameresco conducted a technical energy audit on nearly 480,000 square feet of building space and identified comprehensive energy efficiency, water management and related capital improvement measures that it will design, construct, commission, and verify. In addition, Ameresco assisted with identifying and securing utility rebates.
“Partnering with Ameresco is enabling the District to fund the much needed infrastructure upgrades and innovative energy saving projects in 13 of our facilities without incurring additional capital cost to our taxpayers. The project, underway since August of this year, is improving the performance of our buildings and lowering our operating costs, while also supporting our sustainability initiatives by reducing our carbon footprint,” said Krista Parent, Superintendent.
The13 facilities included in the project are: Bohemia Elementary School, Cottage Grove High School, District Service Center, Dorena Elementary School, Harrison Elementary School, Kennedy Alternative High School, Latham Elementary School, Lincoln Middle School, London Elementary School, District Maintenance Shop, Warren H. Daugherty Aquatic Center, District Transportation Building, and Maintenance Warehouse. In addition to providing infrastructure upgrades, greater efficiency and operational cost savings, the improvements are expected to enhance comfort for building occupants including students and staff, and improve light quality at the schools.
The District is expected to realize more than $132,000 annually in energy savings once the project is completed in summer 2015. In addition, the District expects to leverage the energy savings of the project to secure approximately $127,470 in utility incentives from Lane Electric and Emerald People’s Utility District, and $439,000 in Senate Bill 1149 funding.
“Ameresco is excited to be working with South Lane School District to implement multiple energy efficiency and water efficiency measures throughout the entire School District,” said Louis Maltezos, Executive Vice President, Ameresco. “The District is taking a proactive approach to enhancing the physical learning environment at their schools, while being fiscally prudent. Additional savings from this budget-neutral project will return money to the District’s general funds.”
South Lane School District will be using a Qualified Zone Academy Bond (QZAB) that was made available through the Oregon Department of Education. The QZAB has a 0% interest rate and a term of 15 years. “All the proceeds from the QZAB will be used to pay for project costs and none for interest payments, which make this a great way to pay for the upgrades to our facilities,” said Phil Scrima, the Business Manager at South Lane School District.
The environmental benefits from this project include the reduction of more than 550 tons of CO2, which is equivalent to the carbon sequestered by 14,103 tree seedlings grown for 10 years or 451 acres of US forest in one year, or eliminating 116 passenger vehicles from the road annually. In addition, the project supports other unique savings benefits including 624,915 kWh and 1,134 kW of energy, 42,671 therms, 3,233 gallons of propane, and 5,400 kgals of water each year.
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 has made the budget-neutral solution 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 South Lane School District
South Lane School District serves the majority of students in South Lane County. The School District is located in Cottage Grove, which is approximately 20 miles south of Eugene. Cottage Grove has a population of approximately 8500. There are eleven schools; four K-5, two PreK-8, one middle school, one 9-12 alternative high school, one 9-12 comprehensive high school, and two Charter Schools. Elementary schools range in population from 100 to 500 students. Cottage Grove High School serves grades 9-12 with a population of approximately 900 students. Currently Cottage Grove High School is in the 4A classification, competing in the Sky-Em League which includes Elmira, LaPine, Marist, Junction City, Sisters, and Pleasant Hill. Lincoln Middle School serves grades 6-8 and has a typical population of 600 -650 students. For more information, visit www.slane.k12.or.us/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for facilities throughout North America. Ameresco’s 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 provides local expertise through its 69 offices in 34 states, five Canadian provinces and the United Kingdom. Ameresco has more than 1000 employees. 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 the company’s overall revenue for any particular period or of trends in the company’s overall total construction backlog.