Syracuse Housing Authority Partners with Ameresco on Energy and Water EPC
Energy performance contract to bring nearly $5 million in funding for efficiency upgrades to SHA
FRAMINGHAM, MA and SYRACUSE, NY – March 13, 2015 – Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today it has recently commenced construction on a project with the Syracuse Housing Authority (SHA) in upstate New York that is expected to bring nearly $5 million in capital to a number of the agency’s apartment complexes.
Under an Energy Performance Contract (EPC) financed using savings from SHA’s utility operating funding, new lighting, attic and wall insulation, water conservation measures, temperature controls and other improvements will be installed. The U.S. Department of Housing and Urban Development (HUD) provides incentives for efficiency improvements.
“We are confident that the performance contract with Ameresco will benefit our communities,” said William Simmons, SHA’s Executive Director. “The project will not only update and modernize our buildings, but also improve the living environment for our residents, utilize excess utility expense for the improvements, and create construction work that will benefit our local economy. Furthermore, Ameresco worked with us to tailor the project to our needs: LED site lighting is being installed to save energy, improve security, and reduce long-term operating cost; the building envelope insulation being installed will have the combined effects of promoting efficiency, resident comfort, as well as better sound and moisture control. We are very pleased with the project plan and happy to be getting underway.”
“Ameresco is excited to continue our relationship with SHA on the agency’s efficiency initiatives,” said David J. Anderson, Executive Vice President, Ameresco. “Our staff developed a first phase of energy work in 2000, providing mechanical improvements and fuel cost savings in two high rises, covering 313 units. This initiative addresses 2000 additional units, bringing savings to a larger portion of the SHA portfolio. With this new work, savings are expected to total over $7.5 million over the 16 year contract term.”
Construction of the project will commence this month, and will continue through 2015.
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 over 130,000 households (and counting) under performance-based energy and water services contracts.
About Syracuse Housing Authority, Syracuse, NY
The Syracuse Housing Authority is located in Syracuse, New York and exists to provide quality, safe and affordable housing, to create opportunities for residents’ self-sufficiency and economic independence, and to empower individual potential in an environment where people want to live, work, and build communities. Syracuse Housing Authority owns and manages 15 housing developments with over 2,500 apartments. Just over half the apartments are designated for the elderly or disabled with the remainder set aside for families. The Syracuse Housing Authority operates the tenant based housing choice voucher program which provides subsidies to private landlords on behalf of more than 3,000 low income families. http://syracusehousing.org/ (opens in new window)
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.