Ameresco Awarded Contract by City of Portland, Maine to Increase Energy Efficiency
Based on audit with MACTEC, Ameresco to perform numerous energy conservation measures on 30 municipal and 15 school buildings city-wide
FRAMINGHAM, Mass. & PORTLAND, Maine--(BUSINESS WIRE)-- Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that the Company has signed an agreement with Maine's largest city to provide energy conservation measures (ECM) to 45 City of Portland facilities including 30 municipal buildings and 15 public schools. Based on the findings of an audit conducted with MACTEC, a leading engineering firm, Ameresco will implement the $9.4 million project. It is estimated that the project will save the City nearly $17 million over the 15-year project term while reducing Portland's carbon footprint.
The City of Portland is dedicated to sustainability and these investments will help us achieve our goals by reducing our carbon pollution," said Councilor Dave Marshall, Chair of the Energy and Environmental Sustainability Committee, City of Portland. "These energy conservation measures are in line with our Climate Action Plan. We have committed ourselves to reducing our carbon pollution and our investments meet these resolutions while we reduce energy consumption, achieve savings and create jobs."
The Portland City Council recently approved an agreement that will implement these measures in 45 municipal and school buildings, including a nursing home, the Portland Exposition Building, City Hall, Merrill Auditorium and Portland High School. Ameresco and MACTEC also audited all of Portland's K-12 schools, police and fire stations and recreational facilities, along with city buildings and schools on Casco Bay Islands.
"Working with the City of Portland to bring them smart energy choices and conservation expertise has been a rewarding experience, and we applaud the City for being a leader in sustainability," said David J. Anderson, Executive Vice President, Ameresco. "The budget-neutral improvements we are making not only reduce costs for the City, but will help to create a more efficient work environment and meet their sustainability goals."
In addition to the comfort and economic benefits of implementing the ECMs, there are significant environmental benefits resulting from the reduced demand for electricity, such as sustained energy reductions and lowering the harmful emissions of carbon dioxide. As part of the ECMs, the City will switch from fuel oil to natural gas and Ameresco will install a 2,000 watt solar array at the Portland Arts and Technology High School.
"Ameresco has been a great partner and we applaud the City of Portland for making efficient energy choices," said William Weber, Senior Principal Engineer at MACTEC. "Because of our long established roots in the city, started as EC Jordan Company 135 years ago, we are especially proud of the leadership the City Council has exhibited and the great support we got from city staff and facility managers."
MACTEC's engineers supported Ameresco to conduct the comprehensive energy audit on the City's buildings. The team identified a portfolio of ECMs, which include:
-- Premium Efficiency Lighting -- Lighting Controls -- Energy Management Control Systems -- Boiler Plant Upgrades -- Pipe & Equipment Insulation -- Solar Water Heaters -- Solar PV Systems -- Laundry Plant Improvements
The City of Portland has no upfront capital expense for the project. Ameresco will guarantee a minimum level of energy savings over the 15-year term of the contract and an assurance to the City that the cash inflows from the project will exceed the cash requirements for the project, offsetting the costs of these improvements. In addition, Ameresco will provide grant funding services that will enhance the value to the City by assisting it in applying and securing additional funds from outside public and private sources. To date, Ameresco has already helped the City to secure two $50,000 commercial funds, or a total of $100,000, to support initiatives at the Central Maintenance Building and the Howard C. Reiche Community School.
About Ameresco, Inc.
Ameresco, Inc. was incorporated in Delaware in April 2000 and is a leading independent provider of comprehensive energy efficiency 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.
MACTEC (www.mactec.com), based in Alpharetta, GA, is a leading engineering and design, environmental, and construction firm focused on four strategic business lines: Industrial/Commercial, Infrastructure (Transportation and Municipal), Energy, and Federal. MACTEC offers an ever-broadening portfolio of sustainable solutions, from renewable energy to facility asset management. With annual revenues of more than $440 million, MACTEC's 2,700-plus employees work from over 70 offices nationwide. MACTEC consistently ranks in the top 10% of Engineering News-Record's Top 500 Design Firms. The company has served the Portland community for over 135 years, originally as E.C. Jordan Company.
Source: Ameresco, Inc.
Released March 16, 2011