Holyoke Housing Authority, Government Officials and Ameresco Celebrate Completion of $2.3 Million Energy Performance Project

FRAMINGHAM, Mass. & HOLYOKE, Mass.--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, and the Holyoke Housing Authority (HHA), a high performing Housing Authority in western Massachusetts, held a celebration yesterday for the completion of an energy performance contract (EPC) totaling $2.3 million. State Senator Don Humason; State Representative Aaron Vega; Mayor Alex Morse, City of Holyoke; Kristine G. Foye, Acting Regional Administrator, HUD; Matthew Mainville, Executive Director, Holyoke Housing Authority; and David J. Anderson, Executive Vice President, Ameresco participated. Upgrades were made to over 600 units in the Authority’s portfolio to improve water efficiency, temperature and lighting controls, boiler equipment, and weatherization. This is the second EPC that Ameresco has completed for HHA.

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Holyoke Housing Authority Project Completion Ribbon-cutting Celebration. (L to R) David J. Anderson, Executive Vice President, Ameresco; Kristine G. Foye, Acting Regional Administrator, HUD; Matthew Mainville, Executive Director, Holyoke Housing Authority; Mayor Alex Morse, City of Holyoke; State Senator Don Humason; and State Representative Aaron Vega. (Photo: Business Wire)

“We are delighted this next phase of the project is now complete,” said Matthew Mainville, HHA’s Executive Director. “This project not only provides significant savings to our operating budget, but has allowed us to upgrade our developments and improve building comfort for our residents. Ameresco completed an Energy Audit for HHA that identified the efficiency opportunities. HUD provided incentives for us to implement the recommendations. Now, our community can take advantage of all the benefits.”

"This is a great opportunity for the Housing Authority," said Mayor Alex Morse, City of Holyoke. “It is crucial that we maintain our public housing stock. Unfortunately, funding to assist in these efforts is at an all-time low. The ability to save millions in energy costs over the next 15 years will go a long way in helping us preserve this important part of our community. Thank you to Executive Director Mainville, his team and the Housing Authority board for their foresight in partnering with Ameresco to make this a reality."

“This second phase project for Holyoke Housing Authority is expected to provide $4.6 million in energy and water savings to the Authority over the 15 year term,” said Kristine G. Foye, Acting Regional Administrator, HUD. “This type of project provides significant comfort benefits to the residents while achieving the housing authority’s economic and environmental goals and objectives.”

“Ameresco’s team of public housing specialists worked with the Holyoke Housing Authority on one of the first public housing energy performance contracts in the late 1990s, and we are very excited with our continuing partnership,” said David J. Anderson, Executive Vice President, Ameresco. “This project benefits HHA and also stimulates the local construction economy.”

The U.S. Department of Housing and Urban Development (HUD) provides incentives for efficiency improvements. Under an EPC financed using savings from HHA’s utility operating funding, there is no up-front cost required of HHA. With more than 30 years of experience, Ameresco’s public housing team has implemented performance contracts with project capital exceeding $500 million in North America. Ameresco has implemented improvements for over 130,000 households (and counting) under performance-based energy and water services contracts.

Substantial completion of construction of the project occurred this month, ahead of schedule.

About Holyoke Housing Authority, Holyoke, MA
Holyoke Housing Authority owns and operates 821 conventional public housing units in 12 developments and scattered sites throughout the city, ranging from high-rise apartments to multi-family and single-family homes. The Holyoke Housing Authority also administers the Section 8 Housing Choice Voucher and Massachusetts Rental Voucher programs, which provide rental vouchers for approximately 1,400 units of housing in the private market.

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.

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Ameresco
CarolAnn Hibbard, 508-661-2264
news@ameresco.com

Source: Ameresco, Inc.

Released October 30, 2015