Low-interest Financing Aids District’s Upgrades
GRANTS PASS, Ore. & FRAMINGHAM, Mass.–(BUSINESS WIRE)–Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, and Grants Pass School District 7 announced that they have entered into an Energy Savings Performance Contract (ESPC) to implement upgrades at thirteen locations across the district.
After unsuccessful attempts at voter-approved bonds, the district decided to pursue alternate paths to achieve needed upgrades at their schools. Securing a low-interest financing rate has motivated Grants Pass to complete lighting, HVAC, and building envelope upgrades across the district. Utilizing an ESPC and third-party financing, the district can complete upgrades and pay for them over time, aided by utility incentives and reimbursement programs, as well as energy savings.
Grants Pass’ Chief Finance & Operations Officer, Sherry Ely, said “We selected Ameresco for their flexibility in choosing the most efficient and best value equipment and solutions for our district. The Ameresco team presented options for upgrading interior and exterior lighting at all schools, and HVAC and roofing at selected locations.”
“Ameresco is proud to partner with this community-focused school district. Taking advantage of the low interest rates currently available, our team is helping the district achieve their infrastructure improvement needs while strengthening the safety of their students and staff,” said Ameresco’s Executive Vice President, Lou Maltezos.
About Grants Pass School District 7
This Southern Oregon school district serves nearly 6,000 students across 10 campuses. District No. 7 is committed to providing an education that encourages all students to reach their potential and become responsible, productive citizens.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations. Ameresco’s sustainability 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 has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. 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. This project was not included in our previously reported backlog.