San Francisco Housing Authority Awards a New Energy Performance Contract to Ameresco
Framingham, MA and San Francisco, CA – December 27, 2010 – Ameresco, Inc. (NYSE:AMRC), a leading independent energy efficiency and renewable energy company, and the San Francisco Housing Authority (SFHA), announced today the start of an Energy Performance Contract (EPC) for the SFHA. Over a 20-year period, the $30 million comprehensive energy and water conservation project is expected to deliver annual savings of approximately $3.5 million. Earlier this year, Ameresco and the SFHA signed an $11.7 million contract for related energy infrastructure improvements funded through the American Recovery and Reinvestment Act.
The project will reach 37 developments and over 5,000 units throughout SFHA, and is expected to save the Authority over $60 million during the 20-year contract term. SFHA’s housing sites will benefit from the new energy savings program, which includes such energy saving measures as new lighting upgrades, plumbing fixtures, boilers, water heaters, furnaces, decentralized heating fixtures, cogeneration, improved energy management systems and building ventilation, as well as new windows at some sites. Construction is expected to begin in January, 2011, and to be completed within two years.
“We are committed to improving the shared environment for our residents and the greater community, so we are embarking on this aggressive energy efficiency campaign at all of San Francisco’s public housing sites,” said Henry Alvarez, III, Executive Director, San Francisco Housing Authority. “These major energy and water improvements will make a real difference in the everyday lives of our tenants, and we are so thankful to have this opportunity to upgrade our facilities.”
“We are delighted to continue our working partnership with the San Francisco Housing Authority. Utilizing ARRA grant funds, we were able to address needed infrastructure improvements, such as windows and piping distribution replacements, to three sites. These are long payback measures that do not always fit within the financing term of an energy performance contract. This time, we are incorporating major energy efficiency improvements to SFHA’s larger portfolio,” said David J. Anderson, Executive Vice President of Ameresco. “These measures will improve the quality of the facilities, enhance the comfort for residents, and also save SFHA a substantial amount of money with no up-front costs.”
The HUD energy performance contracting program allows public housing authorities to leverage private capital investment by using the energy and water savings achieved from the installation of efficiency improvements to pay for the cost of the project. Since its inception about 25 years ago, the energy performance contracting program through HUD has leveraged over $700 million in private capital for these types of improvements. The largest such energy projects in the country include the Boston, Chicago, New York City, San Francisco, Denver, Minneapolis, and Buffalo Housing Authorities.
About Ameresco, Inc.
Ameresco, Inc. was incorporated in Delaware in April 2000 and is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for facilities throughout North America. Ameresco’s solutions include upgrades to a facility’s energy infrastructure, and the development, construction, and operation of renewable energy plants. With corporate headquarters located in Framingham, MA, Ameresco has 55 offices in 29 states and four Canadian provinces. For more information, visit www.ameresco.com.
About the San Francisco Housing Authority
“The mission of the San Francisco Housing Authority is to provide safe, sanitary, affordable, and decent housing to very low-income families, senior citizens and persons with disabilities.”
The United States Congress passed the U.S. Housing Act to provide decent homes for low-income families in 1937, and the San Francisco Board of Supervisors established the San Francisco Housing Authority (SFHA) the following year. The SFHA is the oldest housing authority in California. Since its inception, the SFHA has grown to include 45 developments located throughout San Francisco’s neighborhoods. Today there are 6,371 units of public housing serving very low-income families, seniors, and disabled residents of San Francisco. In addition, the Section 8 program oversees approximately 7,000 with an additional 3,000 served through other federally funded programs.
Housing Authorities are unique entities established by a combination of federal, state and local actions. Today there are approximately 3200 local housing authorities across the nation, and the San Francisco Housing Authority is the 17th largest.