Ameresco to boost energy efficiency in Portland, Maine

Framingham, Mass., March 15, 2011 — Ameresco, Inc., an energy efficiency and renewable energy company, an agreement with Maine's largest city to provide energy conservation measures to 45 city of Portland facilities including 30 municipal buildings and 15 public schools.

Based on the findings of an audit conducted with MACTEC, a leading engineering firm, Ameresco will implement the $9.4 million project. It is estimated that the project will save the city nearly $17 million over the 15-year project term while reducing Portland's carbon footprint.

The Portland city council recently approved an agreement that will implement these measures in 45 municipal and school buildings, including a nursing home, the Portland Exposition Building, city hall, Merrill Auditorium and Portland High School.

Ameresco and MACTEC also audited all of Portland's K-12 schools, police and fire stations and recreational facilities, along with city buildings and schools on Casco Bay Islands.

In addition to the comfort and economic benefits of implementing the ECMs, there are significant environmental benefits resulting from the reduced demand for electricity, such as sustained energy reductions and lowering the harmful emissions of carbon dioxide.

As part of the ECMs, the city will switch from fuel oil to natural gas and Ameresco will install a 2,000-watt solar array at the Portland Arts and Technology High School.

MACTEC's engineers supported Ameresco to conduct the comprehensive energy audit on the city's buildings.

The city of Portland has no upfront capital expense for the project. Ameresco will guarantee a minimum level of energy savings over the 15-year term of the contract and an assurance to the city that the cash inflows from the project will exceed the cash requirements for the project, offsetting the costs of these improvements.

In addition, Ameresco will provide grant funding services that will enhance the value to the city by assisting it in applying and securing additional funds from outside public and private sources.

To date, Ameresco has already helped the city to secure two $50,000 commercial funds, or a total of $100,000, to support initiatives at the Central Maintenance Building and the Howard C. Reiche Community School.

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