Ameresco, Inc., (NYSE:AMRC), a leading energy
efficiency and renewable
energy company, announced today it has recently commenced
construction on a project with the Syracuse Housing Authority (SHA) in
upstate New York that is expected to bring nearly $5 million in capital
to a number of the agency’s apartment complexes.
Under an Energy Performance Contract (EPC) financed using savings from
SHA’s utility operating funding, new lighting, attic and wall
insulation, water conservation measures, temperature controls and other
improvements will be installed. The U.S. Department of Housing and Urban
Development (HUD) provides incentives for efficiency improvements.
“We are confident that the performance contract with Ameresco will
benefit our communities,” said William Simmons, SHA’s Executive
Director. “The project will not only update and modernize our buildings,
but also improve the living environment for our residents, utilize
excess utility expense for the improvements, and create construction
work that will benefit our local economy. Furthermore, Ameresco worked
with us to tailor the project to our needs: LED site lighting is being
installed to save energy, improve security, and reduce long-term
operating cost; the building envelope insulation being installed will
have the combined effects of promoting efficiency, resident comfort, as
well as better sound and moisture control. We are very pleased with the
project plan and happy to be getting underway.”
“Ameresco is excited to continue our relationship with SHA on the
agency’s efficiency initiatives,” said David J. Anderson, Executive Vice
President, Ameresco. “Our staff developed a first phase of energy work
in 2000, providing mechanical improvements and fuel cost savings in two
high rises, covering 313 units. This initiative addresses 2000
additional units, bringing savings to a larger portion of the SHA
portfolio. With this new work, savings are expected to total over $7.5
million over the 16 year contract term.”
Construction of the project will commence this month, and will continue
through 2015.
With more than 30 years of experience, Ameresco’s public
housing energy specialists have implemented performance contracts
with project capital exceeding $460 million, more than any other North
American energy services provider in this sector. Ameresco has
implemented improvements for over 130,000 households (and counting)
under performance-based energy and water services contracts.
About Syracuse Housing Authority, Syracuse, NY
The Syracuse Housing Authority is located in Syracuse, New York and
exists to provide quality, safe and affordable housing, to create
opportunities for residents' self-sufficiency and economic independence,
and to empower individual potential in an environment where people want
to live, work, and build communities. Syracuse Housing Authority owns
and manages 15 housing developments with over 2,500 apartments. Just
over half the apartments are designated for the elderly or disabled with
the remainder set aside for families. The Syracuse Housing Authority
operates the tenant based housing choice voucher program which provides
subsidies to private landlords on behalf of more than 3,000 low income
families. http://syracusehousing.org/
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 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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