London School Board Generates Green Revenue Through Solar Partnership with First Nations Band and Ameresco Canada
FRAMINGHAM, MA and TORONTO, ON – April 20, 2015 – Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that its wholly owned subsidiary, Ameresco Canada Inc., agreed to a new 20-year solar-energy partnership with London District Catholic School Board (LDCSB) and Structural Tech Corporation (Aamjiwnaang First Nation). The project is designed to help generate revenue for the board.
Greg Plain, President of Structural Tech Corporation, stated: “We are very happy to be involved in Green Energy initiatives across Ontario, as we need to protect our precious planet by reducing our carbon footprint.”
Ameresco will install 1.025 megawatts (MW) in rooftop photovoltaic (PV) panels at 13 schools in an effort to enhance the board’s and the community’s commitment to use green energy technology. The installation of these panels is expected to begin in the summer of 2015, and to be completed by early 2016. An annual lease payment will be made to LDCSB for 20 years, providing a revenue stream to the board.
“It is great to see our school districts and communities creating successful economic and environmental partnerships with Aboriginal groups, with the common goal of protecting the planet,” stated Mario Iusi, Senior Vice President, Ameresco Canada. “The solar program offers students the opportunity to understand some key concerns of the founding peoples of Canada, as well as the impact their own environmental decisions today will have on future generations.”
Jacquie B. Davison, Superintendent of Business & Treasurer at LDCSB stated, “We are pleased that the solar program supports sustainability in our community. By participating in this program, our board is setting an example for students to see firsthand the benefits of working collaboratively to develop alternative sources of green energy.”
The Ontario Ministry of Energy’s 2009 Green Energy Act grants the Independent Electricity System Operator (IESO), formerly Ontario Power Authority (OPA), the ability to implement green and renewable energy technologies through the Feed-In Tariff (FIT) Program. Green technologies that fall under the FIT umbrella include: solar, wind power, water power, biomass, biogas and landfill gas.
The IESO approved Ameresco Canada’s bid to participate in FIT 3 because it had support from the municipality, partnership with the LDCSB as host for the projects, and a 51 percent ownership partnership with an Aboriginal community, all of which were key factors in the bid. More than 80 percent of complete and eligible applications through FIT3 included Aboriginal, community, municipal or public-sector participation, and/or projects with municipal or public-sector hosts or support.
FIT 3 will help LDCSB connect with families and communities through a shared interest in green energy, as well as a mandate of reducing greenhouse gas emissions. The PV installations will create educational value by offering students the opportunity to see a “living laboratory” in action, and by increasing student knowledge through solar technology.
The current FIT 3 photovoltaic (PV) installation process, which will be managed by Ameresco, includes modeling, financial structuring, engineering, product procurement, and project/construction management. Ameresco will also be responsible for real-time monitoring of power generation for each solar installation.
Ameresco has a track record of success in developing solar partnerships in the K-12 sector. In addition to working with LDCSB, Ameresco has built solar assets in partnership with Grand Erie DSB and CEPEO Catholic French School Board, and is currently completing a solar project in partnership with Hastings and Prince Edward DSB.
The London District Catholic school system has 45 elementary and 9 secondary schools providing a full range of education experiences from Junior Kindergarten (Full-Day Kindergarten in all schools) through to the completion of secondary school. In addition, Continuing Education for adult learners is available. Over 18,000 students in the counties of Middlesex, Oxford and Elgin, including the cities of London, St. Thomas and Woodstock are educated in this school system. For more information, visit www.ldcsb.on.ca/Board/AboutUs/Pages/default.aspx#sthash.BsnJIVJT.dpuf.
About Aamjiwnaang First Nation
The Aamjiwnaang First Nation, formerly Chippewas of Sarnia, is a First Nations community located on the St. Clair River, within the city limits of Sarnia. There are over 2,000 band members, roughly 850 of who live on the Nation; Chippewa Industrial Developments Ltd. (CIDL) is a band-owned company that oversees the development and management of the Industrial Park on lands owned by Aamjiwnaang First Nation. Established in 1971, the Industrial Park was designed to create business opportunities and long-term employment for band members. Currently, 26 hectares of the park’s acres are occupied by 17 tenants, with another 235 acres in development. For more information, visit http://cidl.net or www.aamjiwnaang.ca.
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.