Ameresco Honored with SEAL Environmental Initiatives Award for Kūpono Solar Project in Hawaii

Rhea-AI Summary

Ameresco announced its Kūpono Solar project in Hawaii received the SEAL Environmental Initiatives Award. The project, designed for the U.S. Navy, aims to power around 10,000 homes in O‘ahu and reduce over 50,000 tons of CO2. The initiative aligns with Hawaii's goal to achieve 100% renewable energy by 2045 and the Department of Defense's energy security strategy. Benefits include energy cost stabilization, job creation, local economic boosts, and reduced carbon emissions equivalent to removing 12,000 cars annually. Ameresco expressed pride in their contribution to environmental sustainability and community support.

Positive

• Kūpono Solar project recognized with SEAL Environmental Initiatives Award.
• Project to power approximately 10,000 homes in O‘ahu, Hawaii.
• Expected CO2 reduction of over 50,000 tons in Hawaii's environment.
• Aligns with Hawaii’s 100% renewable energy goal by 2045.
• Supports Department of Defense’s long-term energy security initiative.
• Annual carbon emission offset equivalent to 12,000 cars.
• Stabilizes energy costs for Hawaiian Electric Company customers.
• Creates local construction jobs and consulting work.
• Boosts local economy through the purchase of local supplies and materials.
• Provides philanthropic support for community organizations, STEM education, and youth sports.
• Removes carbon emission air pollutants, creating a healthier environment.

Negative

• No concrete financial data or revenue impact from the project disclosed.

U.S. Navy project designed to power approximately 10,000 homes in O‘ahu and reduce more than 50,000 tons of CO₂ in Hawaii’s environment

FRAMINGHAM, Mass. & O’AHU, Hawaii--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced its Kūpono Solar project in Hawaii has been recognized with the prestigious SEAL Environmental Initiatives Award. This esteemed accolade, presented by SEAL (Sustainability, Environmental Achievement & Leadership) Awards, celebrates Ameresco’s commitment to sustainability, innovation, and environmental leadership.

A confluence of social, economic, and environmental factors made Oʻahu an ideal candidate for this large-scale solar project. The State of Hawaii and Hawaiian Electric Company (HECO) are pursuing their clean energy goals at the same time the U.S. Navy is pursuing its goals around clean and resilient energy. This project came at a critical time to support all of these objectives. The award-winning project is expected to reduce more than 50,000 tons of CO₂ in Hawaii’s environment, power approximately 10,000 homes in O‘ahu and is designed to deliver the following environmental, economic, and health benefits:

• Align with the state of Hawaii’s goal to generate 100% of its electricity via renewable energy and reach carbon neutrality by 2045
• Support energy security and independence, in line with the Department of Defense’s (DoD) long-term energy security initiative, by reducing reliance on the grid
• Deliver annual carbon emission offset equivalent of 12,000 cars
• Provide a localized source of energy to stabilize energy costs for HECO customers
• Create local construction jobs and consulting work to increase long-term employment and boost the economy through the purchasing of local supplies and materials
• Provide philanthropic support for community organizations, charities, Science Technology Engineering and Math (STEM) education and youth sports
• Remove carbon emission air pollutants to create a healthier place for Hawaii residents to live, work, and play

Nicole Bulgarino, Executive Vice President & General Manager of Ameresco, expressed the company's excitement and gratitude, stating: “We’re proud to be a partner to the Oahu Community, HECO and the U.S. Navy to develop and build this large scale solar and battery energy storage project. This project brings critical clean energy to the island and we are excited to see this work now being recognized. Our recent Kūpono Solar Project has received the Environmental Initiatives Award recognizing efforts to diversify Hawaii’s overall energy sources with solar and energy storage technology. We look forward to future work supplying localized sources of clean energy where residents need it most.”

Recognized globally, the SEAL Awards is an esteemed environmental advocacy organization that honors leadership in sustainability, environmental journalism, and impactful campaigns. Ameresco extends its appreciation to SEAL Awards for this distinguished honor and reaffirms its commitment to pioneering sustainable energy solutions that benefit communities and the environment.

To learn more about Ameresco and its award-winning projects, visit www.ameresco.com.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes solutions that help customers reduce costs, decarbonize to net zero, and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240529824842/en/

Media Contact:

Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com

Source: Ameresco, Inc.

FAQ

What is the SEAL Environmental Initiatives Award?

The SEAL Environmental Initiatives Award celebrates sustainability, innovation, and environmental leadership.

What is the Kūpono Solar project?

The Kūpono Solar project is a solar energy initiative in Hawaii designed to power approximately 10,000 homes and reduce CO2 emissions by over 50,000 tons.

How does the Kūpono Solar project benefit Hawaii?

The project aligns with Hawaii’s goal of 100% renewable energy by 2045, supports energy security, stabilizes energy costs, creates jobs, boosts the local economy, and reduces carbon emissions.

What is the significance of the Kūpono Solar project for the U.S. Navy?

The project supports the Department of Defense's long-term energy security initiative by reducing reliance on the grid.

How much CO2 will the Kūpono Solar project reduce?

The project is expected to reduce over 50,000 tons of CO2 in Hawaii's environment.

What are the economic benefits of the Kūpono Solar project?

The project creates local jobs, supports local businesses through purchasing supplies, and stabilizes energy costs for residents.

How does the Kūpono Solar project support the community?

It provides philanthropic support for community organizations, STEM education, and youth sports.