Ameresco and South Carolina's Columbia Housing Authority Execute Energy Performance Contract

Ameresco and South Carolina's Columbia Housing Authority Execute Energy Performance Contract

Upgrades to CHA housing units expected to save over $6.5 million and improve the quality of life for its residents

FRAMINGHAM, Mass. & COLUMBIA, S.C.--(BUSINESS WIRE)-- Ameresco, Inc., (NYS: AMRC) , a leading energy efficiency and renewable energy company, announced today the execution of a $2.7 million energy performance contract with the Columbia Housing Authority (CHA) of Columbia, SC. The project will provide water and energy efficiency upgrades to more than 1,200 CHA housing units, and is expected to save over $6.5 million for the Authority over the 20-year contract term.

"We are pleased to enter into this partnership with Ameresco to provide these water and energy efficiency upgrades to our units, and we look forward to getting underway with the project implementation," said Gilbert Walker, CHA Executive Director. "The HUD energy performance contract program uses the energy and water savings to leverage private capital to cover the costs of the improvements, so there is no 'out-of-pocket' cost to the CHA."

Mr. Walker indicated that the $2.7 million scope includes water and lighting efficiency upgrades, as well as upgrades to mechanical equipment at three CHA sites: Hammond Village, Oak Read High Rise, and Marion Street High Rise. Construction will begin in early 2013 and continue for about a year.

"These upgrades improve the comfort and quality of life for CHA's residents, particularly in the several sites where mechanical upgrades will be constructed. In addition, they provide substantial savings for the housing authority," said David J. Anderson, Executive Vice President, Ameresco. "We are always proud of the energy efficiency contracts we have, but when it directly improves the everyday lives of citizens, it is that much more rewarding."

The U.S. Department of Housing and Urban Development (HUD) energy performance contract program provides incentives to public housing authorities across the country to implement energy and water savings improvements to their housing units. Since inception of the program about 20 years ago, more than 240 public housing authorities nationwide have participated in the program, which has leveraged over $839 million in energy and water improvements.

About Columbia Housing Authority

Columbia Housing Authority is the third oldest housing authority in the country and currently provides affordable housing to approximately 10,000 residents of Richland County and the City of Columbia. There are over 2,200 units of housing for families of low and moderate incomes. CHA also administers rental assistance programs such as the Section 8 program.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYS: AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for facilities throughout North America. Ameresco's 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 provides local expertise through its 63 offices in 34 states and five Canadian provinces. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.

The announcement of a customer's 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 construction backlog.

Ameresco, Inc.
CarolAnn Hibbard, 508-661-2264
news@ameresco.com

KEYWORDS: United States North America Massachusetts South Carolina

INDUSTRY KEYWORDS:

The article Ameresco and South Carolina's Columbia Housing Authority Execute Energy Performance Contract originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.