Ameresco Partners with Portland Public Schools for Phase 8 Energy Improvements

Energy infrastructure improvements expected to reduce District’s utility costs and improve the learning environment for students and staff.

FRAMINGHAM, MA and PORTLAND, OR — May 23, 2018 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company and the Portland Public Schools, today announced that the District has partnered with Ameresco for a $2.1 million, turnkey project under an Energy Savings Performance Contract (ESPC) to provide energy efficiency and infrastructure upgrades to five schools.

Energy efficiency upgrades will include interior, exterior, and parking lot lighting improvements at Markham Elementary School, Jackson Middle School, Jefferson High School, and Ockley Green Middle School. Full controls system upgrades will be implemented at Markham and Whitman Elementary Schools. All the steam traps at Whitman that were identified in the audit will be repaired or replaced. These improvements will collectively reduce annual utility costs by an estimated $71,000.

The Energy Program Manager for Portland Public Schools, Aaron Presberg, noted these efficiency measures will continue to assist the District in achieving its sustainability goals by reducing energy use and realizing the associated environmental impact. “In addition to saving energy, Ameresco is providing PPS solutions that will address needed infrastructure upgrades and maintenance, while improving comfort and visibility for staff and students at the selected schools. The added controls will also provide our facilities’ staff with broader and easier access to HVAC monitoring and enable faster reaction to address any issues as they arise.”

Executive Vice President of Ameresco, Louis Maltezos, added, “Ameresco is proud to provide Portland Public Schools with comprehensive energy efficiency and infrastructure upgrade solutions utilizing energy savings performance contracts. Our ongoing partnership with the District is helping to enhance and extend the life of school facilities, while furthering and supporting PPS’s commitment of social responsibility and environmental stewardship throughout the community.”

Ameresco has been working with PPS for nearly a decade, implementing energy and water saving measures with guaranteed performance and savings. This collaboration has provided the District access to funding and utility incentives, sourced by Ameresco, to assist PPS in accomplishing their financial goals. Utility incentives and funding from Oregon’s Senate Bill 1149 legislation are estimated to provide funding of over $1,180,000, over 50 percent of the contract total.

This project is expected to be completed in Fall 2018.

About Portland Public Schools 

Portland Public Schools, founded in 1851, is a PK-12 urban school district in Portland, Oregon. With more than 49,000 students in 78 schools, it is one of the largest school districts in the Pacific Northwest. For more information, visit www.pps.net.

About Ameresco, Inc. 

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 the company’s overall revenue for any particular period or of trends in the company’s overall total construction backlog. This project was included in our reported awarded backlog as of March 31, 2018.

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