Ameresco Inks 15-Year Partnership With Kauai Beach Resort

Ameresco Inc (NYSE:AMRC) entered into a 15-year Energy as a Service (EaaS) agreement with Kauai Beach Resort for a $15.5 million energy efficiency renovation project.
The partnership allows the 25-acre oceanfront resort to update and replace its energy-related equipment without any up-front capital.
Ameresco will install new lighting and air conditioning equipment in several phases over the next two years and maintain the improvements for the following 15 years.
Ameresco will begin design and construction this year to coincide with currently scheduled Kauai Beach Resort building upgrades.
Ameresco plans to complete construction in the summer of 2023.
Price Action: AMRC shares are trading lower by 1.05% at $92.26 on the last check Thursday.