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Ameresco Enters $43M Energy Savings Performance Contract With US Coast Guard

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Ameresco Enters $43M Energy Savings Performance Contract With US Coast Guard
  • Ameresco Inc (NYSE: AMRChas entered into a $43 million Energy Savings Performance Contract (ESPC) with the U.S. Coast Guard (USCG) at the west coast training facility, Training Center (TRACEN) Petaluma. 
  • Ameresco noted that ESPC would intensify resilience against climate threats and reduce annual energy consumption.
  • USCG selected Ameresco in February 2021 to fast-track the development of a comprehensive ESPC to enhance the site's electric infrastructure and resiliency posture.
  • The microgrid will integrate existing distributed backup generators with a new 5 megawatt (MW) solar array and an 11.6MWh BESS to power the entire site in the event of a loss of utility.
  • The company expects the project's construction to begin in October 2021 and reach completion by Fall 2023.
  • Once completed, Training Center Petaluma ​​will realize a cost savings of more than $1.2 million in the first year. 
  • Price Action: AMRC shares closed higher by 2.84% at $59.05 on Tuesday.
 

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