Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it has entered into an Energy Savings Performance Contract (ESPC) with the Town of Farmington, Connecticut. As part of the ESPC, Ameresco will construct and implement $3.7 million in energy efficiency measures at 22 facilities town-wide. Once complete, the measures are expected to save Farmington more than $245,000 annually over the contract’s 16-year term.
Faced with continuing budget constraints, this forward-thinking town and school district sought a solution that would eliminate over $2 million in pending capital expenditures, and not burden its taxpayers. In a spirit of cooperation, Board of Education and Town officials worked collaboratively for over two years to develop and implement a plan that would address an aging infrastructure, lower utility costs and at the same time keep tax dollars out of the equation.
“The performance contract concept and Ameresco’s expertise has allowed us to leverage resources, make improvements, and implement immediate conservation measures otherwise not possible in these economic times,” said Jeffrey Hogan, Chair of the Farmington Town Council.
The Town of Farmington is committed to green initiatives including energy conservation, renewable resources, recycling, and other environmentally friendly practices. Ameresco’s ESPC will build on this commitment and help to stretch the Town of Farmington’s dollars into more than $3.7 million of infrastructure renewal. Farmington will be able to make critical upgrades to its energy infrastructure and increase energy efficiency without bearing the burden of additional capital investment from taxpayers."The Farmington School District has made a commitment to environmentally friendly practices for many years. The performance contract is another critical step in advancing these practices to improve our facility infrastructure, enhance healthy learning environments, and realize savings for our community,” said Mary Grace Reed, the Chair of the Farmington Board of Education.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV