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Ameresco Announces Work On Energy Efficiency Project At Nevada’s Fourth Largest School District

Stocks in this article: AMRC

Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today its Energy Savings Performance Contract (ESPC) with Lyon County School District (LCSD) in western Nevada. The $3.6 million ESPC is expected to save the state’s fourth largest school district over $345,000 annually for 15 years.

LCSD includes one of the oldest continuously operating schools in the state, and serves approximately 8,400 students. The comprehensive energy efficiency project comprises infrastructure upgrades to 19 schools and 4 administrative buildings representing over 1.2 million square feet of facilities. LCSD serves the entire county with schools in the communities of Dayton, Fernley, Silver Springs, Smith Valley and Yerington. There are eight elementary schools, five middle schools, four high schools, one K-12 school and the Western Nevada Regional Youth Center (an alternative school).

“Lyon County School District is proud of the relationship it has developed with Ameresco. We have been extremely pleased with their professionalism, expertise and commitment to the District’s project,” said Keith Savage, Deputy Superintendent of Lyon County School District. “The bottom line is that Ameresco delivers what they say they will deliver.”

As part of its projects, Ameresco can facilitate financing for energy efficiency and renewable energy upgrades. Under an ESPC, it guarantees energy cost savings for the duration of the contract. LCSD will repay the up-front costs with a portion of their projected annual savings over the contract’s 15 years.

Energy efficiency measures scheduled for completion by October 2012 include lighting systems, vending machine controls, computer power management, trash compactors, demand controlled ventilation and programmable thermostats.

“As one of the largest school districts in Nevada, Lyon County School District is setting a powerful example for other districts and communities,” said B.N. Tripathi, Vice President, Ameresco. “We are pleased to partner with such a forward-looking school district. We worked to ensure that this project has both short- and long-term benefits by hiring local contractors and vendors to complete the project. In addition, we have set up a scholarship program that will benefit several graduating seniors.”

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