Lendlease and Ameresco Partner on $150 Million Energy Security Modernization Project
First project under joint venture between the two infrastructure
companies that provides energy and security modernization for over 5,800
Military Homes at Island Palm Communities in Hawaii that is managed by
Lendlease
Lendlease, a leading international property and infrastructure group and
Ameresco, Inc. (NYSE: AMRC), a leading energy
efficiency and energy
infrastructure company, today announced the companies have partnered
to modernize more than 5,800 privatized military housing homes at Island
Palm Communities in Hawaii through a $150 million energy security
and modernization project to provide turnkey energy efficiency
improvements and new solar energy systems.
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Ameresco and Lendlease established a joint venture in 2015 known as
Energy Solutions and Security, LLC. This is the first project for the
joint venture to focus on energy security and resiliency at a large
privatized military housing community.
“This project is a first-of-its-kind joint venture for Ameresco, and we
are proud to partner with Lendlease on this comprehensive energy
modernization project to serve military service members and their
families at Island Palm Communities,” said George P. Sakellaris,
President and Chief Executive Officer of Ameresco. “Through this
strategic endeavor, Ameresco continues to build upon its energy
expertise in serving the broader U.S. Federal government market.”
“The project is designed to reduce energy consumption at Island Palm
Communities by one-third and is the first step in a coordinated,
multiphase strategy to provide net zero energy solutions to the
residential community,” said Craig Carson, General Manager, Lendlease
Energy Development. “This is a good example of Lendlease leveraging its
energy development capabilities to provide comprehensive energy
solutions to its customers.”
A variety of energy efficiency improvements will be made to the homes,
including new highly-efficient HVAC systems to improve resident comfort,
reduce mechanical outages, and standardize HVAC system type across the
portfolio to lower O&M costs. The energy project will also provide
housing envelope improvements, weatherization sealing, attic insulation,
domestic water conservation, residential and street lighting
improvements through LED lighting technology, as well as the
installation of 6.1MW of new rooftop solar PV energy systems throughout
Island Palm Communities. The additional solar deployment further reduces
IPC’s net effective portfolio electric rate and carbon footprint by
increasing the proportionate use of clean renewable energy and
decreasing consumption of grid-supplied power.
Construction will begin in September 2018 and is expected to be
completed by August 2021. Island Palm Communities is a partnership
between Lendlease and the U.S. Army, and is the largest military
residential privatization project awarded by the Army. The project
supports the core mission of Island Palm Communities, as well as U.S.
Army strategic energy priorities to enhance energy security, reliability
and resiliency. Working in close partnership, Lendlease and the U.S.
Army both see tremendous value in innovation that provides best-in-class
results to the business.
The modernization project is designed after the Energy Savings
Performance Contracting (ESPC) model and provides economic and
environmental benefits to the long-term sustainability and reliability
of Island Palm Communities. The alternatively-financed project allows
for immediate upgrades to critical home equipment, such as legacy HVAC
systems which need repair and replacement.
About Lendlease
Lendlease is a leading international property and infrastructure group
with operations in Australia, Asia, Europe and the Americas. Our vision
is to create the best places; places that inspire and enrich the lives
of people around the world.
Headquartered in Sydney, Australia, and listed on the Australian
Securities Exchange, Lendlease has approximately 12,740 employees
internationally.
Our core capabilities are reflected in our operating segments of
Development, Construction and Investments. The combination of these
three segments provides us with a sustainable competitive advantage and
allows us to provide innovative integrated solutions for our customers. www.lendlease.com
About Ameresco
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 an energy services
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 and assets in development or operation. This
project was reported in our awarded backlog and assets in development as
of March 31, 2018.
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