Ameresco Partners with Denver for the City’s First-Ever Energy Performance Contract
City guaranteed over $2.4 million in energy savings over 15 years
Ameresco, Inc. (NYSE:AMRC), a leading energy
efficiency and renewable
energy company, announced today that through a partnership with the
Strategic Initiatives Division of General Services and with funding
provided by Denver’s Environmental Health Department, the City and
County of Denver has entered into a nearly two million dollar energy
performance contract (EPC) with the Company. Ameresco was pre-qualified
by the Colorado Energy Office and Denver selected the energy service
provider for the City’s first-ever EPC. Under an EPC, an energy service
provider implements energy and infrastructure upgrade improvements to a
building or group of buildings and guarantees projected energy savings
through a highly regulated measurement and verification process. Any
projected savings that are not attained are covered by the provider.
“This contract is a guaranteed way for the City to make progress toward
its 2020 Sustainability Goals while incurring none of the risk,” said
Denver’s Executive Director of General Services, Adrienne Benavidez.
Denver’s 2020 Sustainability Goals include a goal of reducing energy
consumed by City-operated buildings and vehicles by 20%. Dionne
Williams, the Director of the Strategic Initiatives Division, will
oversee implementation of the contract for the City.
“Ameresco is honored to have been selected by Denver as its
sustainability partner for its first energy savings performance
project,” said Louis Maltezos, Executive Vice President, Ameresco. “This
project demonstrates the City’s leadership and commitment to
environmental stewardship and will help to achieve its sustainability
goals. The infrastructure upgrades are expected to deliver greater
energy efficiency and operational cost savings, enhance comfort for
building occupants, and reduce greenhouse gasses and emissions.”
Denver’s EPC includes a total of 88 energy efficiency improvements to 14
of the City’s most energy intensive buildings, including four recreation
centers, four libraries, three fire stations, and the 911 Call Center.
The improvements are guaranteed to create energy savings averaging 17%
across all 14 buildings, with four of the buildings expected to reduce
their energy use by over 30%. This project identified and targets some
of the City’s largest energy consumers for efficiency upgrades. Through
these improvements, the City is guaranteed to save over $2.4 million in
the first 15 years, and is expected to begin realizing savings within
the first year.
This project helps Denver move closer to achieving its 2020 energy and
sustainability goals. The environmental benefits include the reduction
of more than 2.17 million pounds of carbon dioxide, which is equivalent
to eliminating 200 passenger vehicles from the road annually, saving
enough electricity to power 90 homes each year, or the equivalent of
planting 810 acres of pine forest annually.
About Denver’s Strategic Initiatives Division
Strategic Initiatives (SI) is a division of General Services (GS)
responsible for the development, management and administration of energy
efficiency programs, ensuring the continued sustainability of those
programs, and the Records Management program for the city. SI manages
the City’s utilities and monitors progress related to the Government
Buildings metrics as part of the Mayor’s 2020 Sustainability Goals. SI
also manages the Better Buildings Challenge initiative through the US
Department of Energy, which has a goal of reducing energy usage in
participating buildings by 20% over 2011 levels by 2020.
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. This
project was included in our previously reported awarded projects as of
September 30, 2015 and is included in our fully contracted backlog as of
December 31, 2015.
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