Town of Stockbridge Officials, Residents and Ameresco Join to Celebrate Completion of Solar Farm on Capped Landfill
Power purchase and tax agreements are expected to provide the Town with approximately $60,000 in annual electricity costs and tax payments, and reduce greenhouse gas emissions
FRAMINGHAM, MA and STOCKBRIDGE, MA – May 2, 2018 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company and the Town of Stockbridge, hosted a ribbon-cutting today at the Town’s capped landfill to celebrate the commenced operation of the solar photovoltaic (“PV”) facility. The Town partnered with Ameresco to develop the solar PV project under a long-term Lease and Power Purchase Agreement.
“This exciting project demonstrates Stockbridge’s commitment supporting sustainable renewable energy solutions, reducing greenhouse gas emissions, reducing annual energy costs and effectively utilizing Town-owned land,” said Steve Shatz, Finance Committee and former Selectman, Town of Stockbridge. “It’s a win-win no matter how you look at it. We’re utilizing otherwise unusable land to generate renewable power, all while saving the Town about $60,000 annually in electricity cost reduction and new tax revenue. Over the 20-year life of this solar PV facility, the Town’s projected economic benefit is upwards of $1 million.”
Stockbridge’s solar arrays are comprised of more than 2,800 photovoltaic panels totaling 900 kW DC and designed to generate over 1.1 million kWh of renewable electricity each year. The 3.5-acre solar farm is connected directly to the local utility distribution system, and the energy generated by the project will be credited to the Town of Stockbridge electrical accounts as net metering credits.
“Ameresco is pleased to have worked closely with the Town of Stockbridge to develop, finance, construct, own, and operate a renewable solar power system at the capped landfill,” said Jim Walker, Vice President, PV Grid Tie, Ameresco. “This solar PV project will generate electricity cost savings for the Town for years to come. In addition, Ameresco has also established a web-enabled project dashboard that provides the Town’s school students, parents, and interested residents cumulative and near real-time solar PV-generated electricity production.”
The solar arrays represent an important contribution to Stockbridge’s continuing efforts to mitigate greenhouse gas emissions. The 849 metric tons of CO2 offset annually by the renewable power is equivalent to 182 passenger vehicles driven for one year or annual electricity usage of 127 homes.
About Town of Stockbridge
Stockbridge represents the very best of small-town New England, 130 miles west of Boston, and tucked into the Berkshire hills. The town operates its own police, fire and public works departments, with two fire stations and two post offices. The town’s library, located in the central village, is connected to the regional library network. For more information, visit townofstockbridge.com.
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 power purchase agreement 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 assets in development or operation. This project was included in our previously reported assets in operation as of March 31, 2018.