Ameresco,
Inc. (NYSE:AMRC), a leading energy
efficiency and renewable
energy company, and the City of Redmond, Oregon announced today they
are partnering on a comprehensive $1.2 million Energy
Savings Performance Contract (ESPC) to improve City buildings and
enhance efficiency. As part of the ESPC project, Ameresco conducted an
energy audit on more than 272,000 square feet of building space and
identified energy conservation measures that the Company will design,
construct, commission, and verify. Projects include comprehensive
lighting upgrades, controls upgrades and the installation of two 10 kW
solar photovoltaic systems at Roberts Field. These improvements are
expected to enhance comfort for building occupants and improve light
quality at the facilities.
“This project reflects the City of Redmond’s ongoing commitment toward
the pursuit of energy conservation and lowering operating costs,” said
Bill Duerden, Director of Public Works for the City of Redmond.
“Utilizing this public/private financing model leads to a triple bottom
line. It helps us to replace our aging infrastructure with innovative
design and construction without incurring additional capital costs. It’s
a win-win-win for the City, our residents and the environment.”
The City of Redmond is expected to realize more than $100,000 annually
in energy savings once the eleven projects are completed in late-spring
2015. In addition, the City expects to leverage the energy savings of
the project to secure approximately $159,000 in utility incentives from
the Energy Trust of Oregon.
“Partnering with Ameresco will enable us to fund much needed
infrastructure upgrades and innovative energy saving projects without
additional cost,” said Jason Neff, Finance Manager of the City of
Redmond. “We look forward to moving ahead on this ambitious project to
both improve the performance of our buildings and lower our energy costs
while reducing our carbon footprint.”
“We are excited to begin work on this extensive energy efficiency
project, and we applaud the City of Redmond for its leadership by
exploring the different options that are expected to reduce energy
consumption while becoming more sustainable,” said Louis Maltezos,
Executive Vice President, Ameresco. “The City of Redmond has taken a
proactive approach to upgrading its facilities in a fiscally responsible
manner.”
The environmental benefits associated with the reduction of more than
1.2 million pounds of CO2 from this project is equivalent to
eliminating 186 cars from the road annually.
Ameresco has a long history of partnering with counties, schools,
municipalities and commercial entities to improve energy infrastructure
and install renewable energy technologies. The ESPC financing model has
made the budget-neutral solution an increasingly popular option for
customers across North America, enabling budget-neutral energy
efficiency upgrades by guaranteeing a minimum level of energy savings
over the term of the contract. Ameresco coordinates the upfront project
costs and the City repays that investment with their energy savings over
time.
About City of Redmond, Oregon
The City of Redmond was
established in 1910 and is commonly referred to as "The Hub" since it is
geographically the center of Central Oregon. With a population of
approximately 25,800, Redmond sits at the western edge of Oregon's High
Desert in Deschutes County, just four miles from the Deschutes River, a
half-hour from the Cascade Mountains and within miles of several lakes.
The area has four distinct seasons, each bringing refreshingly different
weather, and offers various recreational activities, including camping,
fly fishing, world class rock climbing at Smith Rock State Park,
golfing, hiking and all types of winter snow sports. For more
information about the City of Redmond, Oregon, please visit http://www.ci.redmond.or.us/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. is a
leading independent provider of comprehensive services, energy
efficiency, infrastructure upgrades, asset sustainability and renewable
energy solutions for facilities throughout North America. Ameresco’s
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 provides local expertise through its 69 offices
in 34 states, five Canadian provinces and the United Kingdom. Ameresco
has more than 900 employees. 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.
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