Holyoke Housing Authority Partners with Ameresco on Energy and Water Energy Performance Contact
EPC to bring over $2 million in funding for efficiency upgrades to HHA
FRAMINGHAM, MA and HOLYOKE, MA – April 23, 2015 – Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, and the Holyoke Housing Authority (HHA), a high performing Housing Authority in western Massachusetts, jointly announced today they will begin construction this month on a second energy performance contract (EPC) totaling $2.3 million. This project is expected to provide over $4.5 million in energy and water savings to the Authority over the 15 year term. Upgrades will be made to over 600 units in the Authority’s portfolio and will improve water efficiency, temperature and lighting controls, boiler equipment, and weatherization.
“This project not only will provide savings to our operating budget, but also is expected to upgrade our developments and improve resident comfort,” said Matthew Mainville, HHA’s Executive Director. “Ameresco completed an Energy Audit for HHA that identified the efficiency opportunities, and HUD provides incentives for us to implement the recommendations.”
“Ameresco’s team of public housing specialists worked with the Holyoke Housing Authority on one of the first public housing energy performance contracts in the late 1990s, and we are very excited to continue that partnership,” said David J. Anderson, Executive Vice President, Ameresco. “This project benefits HHA and also stimulates the local construction economy.”
The U.S. Department of Housing and Urban Development (HUD) provides incentives for efficiency improvements. Under an EPC financed using savings from HHA’s utility operating funding, there is no up-front cost required of HHA. With more than 30 years of experience, Ameresco’s public housing team has implemented performance contracts with project capital exceeding $460 million in North America. Ameresco has implemented improvements for over 130,000 households (and counting) under performance-based energy and water services contracts.
Construction of the project will commence this month, and will continue through 2015.
About Holyoke Housing Authority, Holyoke, MA
Holyoke Housing Authority owns and operates 821 conventional public housing units in 12 developments and scattered sites throughout the city, ranging from high-rise apartments to multi-family and single-family homes. The Holyoke Housing Authority also administers the Section 8 Housing Choice Voucher and Massachusetts Rental Voucher programs, which provide rental vouchers for approximately 1,400 units of housing in the private market.
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.