Housing Authority Announces Partnership to Bring $37.4 Million in Efficiency Upgrades

Energy performance contract with Ameresco to enhance residential units

BIRMINGHAM, Ala. and FRAMINGHAM, Mass. – November 19, 2015 – The Housing Authority of the Birmingham District (HABD) has announced its recent partnership with Ameresco– an independent energy efficiency and renewable energy company that develops tailored energy management and infrastructure renewal projects. The partnership will bring $37.4 million in efficiency upgrades to residential units of the Housing Authority.

“We are very excited to have this partnership with Ameresco because the project will provide many opportunities for the Housing Authority,” says Interim Executive Director Dontrelle Foster. “The impact it will have to residents and the units will be of great value not only through the significant savings to our operating budget but by allowing us to upgrade our facilities and improve building comfort for our residents.”

Energy and water efficiency improvements will be made at 14 developments, which consist of more than 4,100 apartments. Enhancements will include lighting and water upgrades; temperature controls; refrigerator replacements; building envelope improvements; heating, ventilation, and air-conditioning; and mechanical upgrades in six of the 14 sites. Construction of the project is projected to continue into 2017.

“Ameresco is pleased to partner with the Housing Authority of the Birmingham District to upgrade their units and institute greater energy efficiency measures that will help provide comfort benefits to the residents while achieving the Housing Authority’s economic goals and objectives,” said Louis P. Maltezos, Executive Vice President, Ameresco. “This HABD project is the largest public housing energy performance contract (EPC) in Alabama and it is expected to make significant energy-related improvements to the Housing Authority while being paid completely from the savings achieved from the project. In addition, it should also help to stimulate local construction jobs.”

The project was developed as the result of a comprehensive audit and through the identified energy measures will provide significant facility enhancements. It is expected to provide about $3.6 million in annual cost savings – representing approximately a 25% reduction in HABD’s annual utility expenses. More than 10,000 housing residents will be impacted and can benefit from this project that also will provide significant value to the HABD, with guaranteed savings over the 17-year project term.

The U.S. Department of Housing and Urban Development provides incentives for efficiency and renewable energy improvements. Under an energy performance contract, financed using savings from HABD’s utility operating funding, there is no up-front cost required of HABD. With more than 30 years of experience, Ameresco’s public housing energy specialists have implemented performance contracts with project capital exceeding $460 million, more than any other North American energy services provider in this sector. Ameresco has implemented improvements for more than 130,000 households (and counting) under performance-based energy and water services contracts.

About The Housing Authority of the Birmingham District (HABD)
The Housing Authority of the Birmingham District (HABD) is the largest provider of conventional public housing and tenant-based assisted housing in the State of Alabama. The mission of HABD is to be the leader in making available excellent, affordable housing for low and moderate-income persons through effective management and the wise stewardship of public funds. For more information, visit www.habd.org.

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 with Ameresco 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 previously reported awarded projects as of June 30, 2015 and is included in our fully contracted backlog as of September 30, 2015.