Ameresco Partners with Nyack Public School District to Improve Environmental Stewardship and Operational Efficiency

Rhea-AI Summary

Ameresco, Inc. (NYSE: AMRC) has secured an 18-year Energy Savings Agreement with the Nyack Public School District, committing to a $3.5 million investment in energy efficiency upgrades across seven facilities. The contract guarantees Nyack savings of at least $187,418 in the first year. Planned enhancements include solar PV arrays and improved lighting, aimed at reducing greenhouse gas emissions significantly. Construction is expected to complete by spring 2021, promoting sustainability and inspiring future environmental stewardship among students.

Positive

• Guaranteed energy savings of at least $187,418 in the first year.
• Total investment of $3.5 million in energy efficiency upgrades.
• Implementation of solar PV arrays and modernized energy systems.
• Long-term partnership supports sustainability goals for education.

Negative

• None.

Ameresco, Inc., (NYSE: AMRC), a leading clean technology integrator specializing in energy efficiency and renewable energy, today announced their selection from a competitive bid for Phase II renovations with Nyack Public School District. The contract is an 18-year energy savings agreement (ESA), which guarantees a minimum level of energy cost savings to Nyack Public School District over the full term of the contract.

The Energy Conservation Measures (ECMs) identified represent an investment by Ameresco totaling $3.5 million. In just the first year alone, Nyack Public School District will receive guaranteed savings of $187,418. The partnership will not only help Nyack address its energy-related sustainability goals, but also provide needed facility upgrades while creating future energy savings.

Ameresco will provide energy efficiency upgrades across seven facilities, including one high school, one middle school, three elementary schools, one administrative building and one garage totaling 521,180 square feet. Facility upgrades slated for the selected buildings involve improving interior and exterior lighting systems, adding 1.27 MW solar PV arrays (across the five schools) and demand-controlled ventilation, updating faucet aerators and improving building envelopment and kitchen walk-in cooler efficiency.

“As a public school, our goal is to create a better and brighter future for the generations of tomorrow,” said Gloria Menoutis, school business executive, Nyack Public School District. “By entering into an Energy Savings Agreement of this magnitude with Ameresco, we can confidently say that we’re teaching our students an honorable lesson in the importance of sustainability and modern stewardship.”

The long-term, collaborative partnership will result in a significant reduction of greenhouse gas emissions by the school, setting Nyack Public School District apart from others in the area. To put these energy efficiency improvements into perspective, the school’s resulting savings is equivalent to 178 passenger cars not driven, 48,926 gallons of gasoline not burned or 672 acres of pine forest conserved.

“We’re eager to continue making a positive environmental and economic impact, delivered through guaranteed energy savings projects, across educational institutions,” said David J. Anderson, executive vice president and director, Ameresco. “Through the implementation of innovative energy efficiency and renewable energy solutions across Nyack School District facilities, we have the unique opportunity to demonstrate the importance of responsible energy management solutions to this country’s future leaders at such a young and impressionable age. My hope is that these innovative energy projects inspire students to pursue meaningful careers in science and engineering, particularly in the field of distributed renewable energy.”

Construction on Nyack Public School District’s facility buildings is scheduled to be completed in spring 2021.

To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent clean technology integrator 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.

About Nyack Public School District

Located along the banks of the Hudson River, the District is distinguished by charming downtown shops and restaurants; small communities with local business owners; vibrant venues for music, visual and performing arts; two major shopping malls; picturesque park lands and hiking trails; a major hospital; a variety of housing options; and easy access to major transportation modes leading to a host of academic and cultural resources. We are Building Bridges for today's students to cross into tomorrow's world with Equity, Innovation and Optimism. Our commitment is to embed the seven core competencies of Critical Thinking, Creativity, Collaboration, Communication, Compassion, Content Mastery and Cultural Awareness in each student, beginning at birth and continuing through college and career, to foster success on a global platform and a love of learning that lasts a lifetime.

The announcement of a customer’s award of or 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 project backlog. This project was included in our previously reported awarded backlog as of September 30, 2020.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210217005553/en/

FAQ

What is the energy savings agreement between Ameresco and Nyack Public School District?

Ameresco has entered a guaranteed 18-year energy savings agreement with Nyack Public School District to deliver energy efficiency upgrades and savings.

How much is Ameresco investing in the Nyack Public School District project?

Ameresco is investing $3.5 million in energy efficiency upgrades across seven facilities.

What are the guaranteed savings for Nyack Public School District in the first year?

The guaranteed savings for Nyack Public School District in the first year is at least $187,418.

When is the construction for the Nyack Public School District project expected to be completed?

Construction on the Nyack Public School District facilities is scheduled to be completed by spring 2021.

What kind of upgrades will Ameresco provide to the Nyack Public School District?

Ameresco will implement upgrades including solar PV arrays, improved lighting systems, and enhanced energy efficiency measures across multiple facilities.