Ameresco Partners with the City of Atlanta for Guaranteed Energy Savings Performance Contract
GESPC includes energy saving upgrades to 19 City-owned buildings and supports the City’s sustainability goals.
FRAMINGHAM, MA and ATLANTA, GA– June 6, 2018 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced that the Company entered into a Guaranteed Energy Savings Performance Contract (GESPC) with the City of Atlanta for more than $7 million to provide energy efficiency and infrastructure upgrades to 19 City-owned buildings encompassing over 1.25 million square feet of space. This project also contributes to the City’s sustainability goals.
The GESPC consists of 13 Energy Conservation Measures (ECMs) that are expected to be entirely self-funded within the 14-year repayment term and reduce energy use by 5,604,200 kWh annually. Funded through annual energy and operational cost savings of $696,000, this project upgrades the City’s energy infrastructure while also addressing critical capital improvement needs without any capital cost. Some key building improvements include interior and exterior lighting upgrades to LED technology, new chillers, HVAC control re-commissioning and upgrades, new energy efficient transformers, water conservation measures, and new premium efficiency motor installations.
David J. Anderson, Executive Vice President of Ameresco said, “In support of the City’s 100% Clean Energy Plan, Ameresco is pleased to be an energy services partner for the City of Atlanta’s infrastructure upgrades initiative. The GESPC model allows the City to make budget-neutral cost-intensive upgrades. The project is designed to improve energy efficiency while providing energy savings and reducing the environmental impact. The environmental benefits include greenhouse gas (GHG) emission reductions of 3,478 tons of carbon annually.”
Ameresco’s services for the City’s initiative include project development engineering, GESPC project modeling, ECM detailed design and engineering, project construction management, equipment and systems start-up and commissioning, post-construction monitoring, energy rebate application management, energy savings measurement and verification, and training of City staff on all installed equipment and systems.
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 reported in our contracted backlog as of March 31, 2018.