Ameresco Partners with New York State School District on Major Energy Efficiency Project
Energy Efficiency Improvements expected to save the Pearl River Union Free School District over $265,000 annually
FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it has entered into an Energy Savings Performance Contract (ESPC) with the Pearl River Union Free School District. The District is located approximately 20 miles northwest of New York City, west of the Hudson River, bordering the state of New Jersey. Ameresco will provide energy efficiency upgrades to Evans Park Elementary School, Lincoln Avenue Elementary School, Franklin Avenue Elementary School, Pearl River Middle School, Pearl River High School and the Nauraushaun Building.
"In these tight fiscal times, this is a great opportunity to gain greater control of our energy costs while upgrading the energy infrastructure for our schools," said Quinton Van Wynen, Director of Operations for the Pearl River Union Free School District. "With years of experience providing energy efficiency projects with demonstrated success for other school districts, we are confident Ameresco will deliver significant results as our partner for this project."
The $4.2 million project includes upgrades for a total of 390,064 square feet of space and requires no upfront capital costs from the School District. The District is expected to save more than $6.4 million over the course of the 18-year project. The project has received final approval from the New York State Education Department (SED) and has moved forward to the construction phase.
Ameresco completed a thorough energy performance audit in order to better understand the facilities' baseline energy and other utility consumption. Ameresco has designed the upgrades for the following energy conservation measures for the district and is in the process of installation:
-- Solar PV System -- Lighting System Improvements -- Lighting Controls -- Exterior Door Replacements -- Water Heater Replacement -- Attic Insulation -- Building Envelopment Improvements -- High Efficiency Transformers -- Integrated Building Management System -- Kitchen Valve Replacements -- Overhead Door Replacements -- PC Load Management -- Pipe and Tank Insulation -- Unit Ventilator Replacements -- Window Replacement
"Our partnership with the Pearl River Union Free School District uses an ESPC to implement a broad array of energy efficiency measures and deliver cost savings on a budget neutral basis," said David J. Anderson, Executive Vice President, Ameresco. "We applaud the district for deciding to make these critical energy infrastructure improvements while lowering their operating costs and meeting their sustainability goals by reducing their carbon footprint."
An ESPC is a budget-neutral way to reduce energy use and associated costs, and renew facilities and building systems without burdening shrinking capital budgets. Ameresco will guarantee a minimum level of energy savings over the term of the contract and an assurance to the District that the cash inflows from the project will exceed the cash requirements for the project, offsetting the costs of these improvements.
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 56 offices in 29 states and five Canadian provinces. For more information, visit www.ameresco.com.
Source: Ameresco, Inc.
Released April 6, 2011