Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it has signed an Energy Savings Performance Contract (ESPC) with Oconto Falls School District in northeastern Wisconsin. The $2.7 million ESPC is expected to save the District over $137,000 in energy and avoided operational costs annually through energy efficiency and infrastructure upgrades at eight facilities.
Located just north of Green Bay, Wisconsin, the District includes six schools and two district facilities. The Oconto Falls schools that will be upgraded include Abrams Elementary School, Oconto Falls Elementary School, Washington Middle School, New Path Charter School, the Falls Alternative Learning Site (FALS), and Oconto Falls High School. Energy and operational upgrades will also be performed at the District Office and the District’s bus garage.
“Opportunities to complete facility upgrades have all but disappeared with the recent reduction in state funding. As a result, we invited Ameresco into our facilities to identify savings opportunities when we realized there may be additional opportunities to further improve our operating systems,” said David Polashek, Superintendent of Oconto Falls School District. “Ameresco has worked closely with our staff in developing a project that will reduce energy consumption while improving the daily learning environments for students and teachers alike. We were impressed with the creativity used to design this project which used savings from avoided energy and maintenance costs, rather than tap the District's capital fund to implement necessary building improvements. An ESPC project with Ameresco makes this all possible.”
The ESPC is expected to help reduce the District’s energy use by over 23 percent through the duration of the 20-year contract via upgrades that include lighting controls, water conservation retrofits, buildings envelope enhancements, boiler plant upgrades, and domestic water heater replacement. In addition to the energy savings facility improvement measures, the District will receive future capital avoidance savings for a roof section replacement. Under an ESPC, Ameresco guarantees the energy cost savings for the duration of the contract. A portion of the projected savings are expected to repay the upfront costs allowing Oconto Falls School District to take a practical approach to reduce its energy consumption while working towards achieving sustainability goals.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV