Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced that it has signed an Energy Savings Performance Contract (ESPC) with Grayville Community Unit School District #1 (CUSD #1) in southeast Illinois. As part of the $1.1 million ESPC, Ameresco will perform much needed upgrades to the school’s facility infrastructure over the ten-week summer break.
The Grayville CUSD #1 is located in southeast Illinois, just over the Indiana border. An authentic small town, Grayville boasts a population of just over 1,600 with a student population of 320. Ameresco was engaged by the district in the spring of 2011 to assess pressing infrastructure upgrade needs. Ameresco evaluated structural and environmental improvements in coordination with the Illinois State Board of Education and an independent consulting engineering firm.
“Once the district decided to pursue performance-based contracting, Ameresco was a natural fit,” said Sarah E. Emery, Superintendent of Grayville CUSD #1. “I was introduced to Gene Mackey at an educational conference, and had heard great things about Ameresco from my peers. Gene took an immediate interest in our projects; he really made it easy for the district to move forward.”
The $1.1 million initial phase of the contract was signed in March 2012. The current project includes energy efficiency and environmental improvements such as replacing aged infrastructure materials for health, life and safety (HLS) purposes, implementing ADA accessibility improvements and performing power upgrades. The district issued HLS bonds to fund the project and will realize guaranteed energy and capital savings over the finance period.“In small communities such as Grayville, every dollar counts. Both the district administration and school board closely evaluated our offering and our team, and we are pleased they have chosen to partner with us on this important assignment,” said Louis P. Maltezos, executive vice president of Ameresco. “We have a long and successful track record of working with local schools and communities throughout Illinois, Indiana and Missouri, and our projects are designed to deliver significant cost savings and needed improvements.”
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