The solar installation will be developed on a local closed municipal landfill and deliver approximately $1 million in revenue
Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced its partnership with the City of Alton, Illinois to develop and install a 5 megawatt AC (MWAC)/7 megawatt DC (MWDC) solar array. The solar installation will be developed on a local closed municipal landfill site in the city.
Over the life of the project, this solar installation is designed to deliver approximately $1 million in revenue to the City of Alton and surrounding local businesses. The renewable energy generated from the site will also help offset greenhouse gas emissions from conventional utility generation. In just the first year alone, the project is expected to generate approximately 10,000 MWh of electricity, reducing the city’s carbon footprint by over 7,000 tons. Over the 30-year lifespan of the solar array, this equates to about 278,000 MWh of energy generation and 197,000 metric tons of carbon emission reduction.
“…this project will benefit our city through local job creation and increased property tax revenue while also reducing greenhouse gas emissions. Facilitating this solar installation represents a significant step forward for the City as we continue our progress toward sustainable solutions in coordination with the Alton Cool Cities Committee.”
— David Goins, Mayor of Alton, IL
“Greenhouse gas emissions contribute to global warming, directly impacting communities through adverse weather events – including the increased flooding we’ve experienced here in Alton. Though global warming is a worldwide problem, this project will benefit our city through local job creation and increased property tax revenue while also reducing greenhouse gas emissions,” said Alton Mayor David Goins. “Facilitating this solar installation represents a significant step forward for the City as we continue our progress toward sustainable solutions in coordination with the Alton Cool Cities Committee.”
Ameresco and the City of Alton also plan to install a self-guided, instructional display near the array to inform visitors about the project and provide them with an opportunity to learn more about the associated benefits of clean energy. The completion of this project will enable Alton to make forward progress toward the clean energy transition goals laid out in the Illinois Climate and Equitable Jobs Act (CEJA). CEJA sets a target to get Illinois to 40% renewable energy by 2030 and 50% renewable energy by 2040.
“Once completed, this solar array is expected to provide the City of Alton with substantial revenue from clean energy generation while also making beneficial use of a previously un-usable brownfield site,” said Jon Mancini, Senior Vice President of Solar Project Development at Ameresco. “We’re honored to have been selected as partners on this project, and look forward to installing a state-of-the-art solar array designed to provide a great benefit to the local community through meaningful progress toward meeting the city’s clean energy goals.”
Construction is slated to begin in the spring of 2023 and is expected to reach completion by the end of the year.
To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.
7,000 Tons
Annual CO2 Reduction
10,000 MWh
Annual Energy Generation
~ $1,000,000
Revenue
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and Europe. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. 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 Europe. For more information, visit www.ameresco.com.
About City of Alton, Illinois
Founded in 1837, Alton is a community rich in history and character with a lot to offer. Located on the Mississippi River 25 miles north of St. Louis, Missouri, the City boasts beautiful parks, a wonderful school district, tourist attractions, and community events to interest everyone. Alton’s charm and diverse resources make it a great place to live, work, and play. The City’s 28,000 residents benefit from a cost of living below the national average and the protection of the Alton Police and Fire Departments.
Safe Harbor Statement
The announcement of Ameresco’s award of a renewable energy asset project is not necessarily indicative of the timing or amount of revenue from the energy asset, of the company’s overall revenue for any particular period or of trends in the company’s overall total assets in development or operation. The City of Alton site was not included in our previously reported operating assets in development as of September 30, 2022.
The statement in this press release regarding the expected timing of completion constitutes a forward-looking statement within the meaning of The Private Securities Litigation Reform Act of 1995. The actual timing and completion may differ materially from that indicated herein as a result of various important factors, including the timing of, and ability to, enter into subcontracts and purchase orders; the ability to perform without unusual delay; any customer decision to terminate or delay our work on, or other risks involved with, the project; and availability and costs of labor and equipment. Currently, one of the most significant factors, however, is the potential adverse effect of the current COVID-19 (and its variants) pandemic. The extent to which COVID-19 impacts us, suppliers, customers, employees and supply chains will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others.
