Hillsboro School District Partners with Ameresco for Energy Efficiency Improvements at Local Schools

District embraces energy saving initiatives to upgrade learning environment and to support commitment to environmental stewardship

FRAMINGHAM, MA and HILLSBORO, OR – April 6, 2016 – Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, and the Hillsboro School District announced today that they began work on a nearly $3.5 million Energy Savings Performance Contract (ESPC) to improve thirteen schools and increase their operational efficiency. Approximately a third of the project cost, $1.3 million, is funded through Oregon Senate Bill 1149 (SB1149), which is provided by a public-purpose charge from electrical customers to fund K-12 school improvements. 

“Partnering with Ameresco under an ESPC has made it possible for us to implement significant energy efficiency upgrades in our schools, and to make improvements to the overall learning environment without an additional burden to our taxpayers,” said Adam Stewart, Chief Financial Officer, Hillsboro School District. “The efficiency upgrades are expected to deliver an estimated $137,000 in annual cost savings, while improving the comfort of the facilities for our students and staff.”

Some of the energy saving projects include: lighting retrofits; installing CO2-based ventilation control; occupancy and daylighting sensors for lighting control; adding variable speed pumps, heating and air conditioning controls upgrades, and retro-commissioning; installation of building automation systems; upgrades to electrical service to increase capacity; installing natural gas water heaters to replace electric water heaters; and identifying district-wide water saving measures.

“Ameresco commends the Hillsboro School District for its commitment to academic excellence and for embracing a fiscally-responsible solution to implement a wide-range of enhancements at its schools,” said Louis P. Maltezos, Executive Vice President, Ameresco. “In addition to the budget-neutral ESPC, Ameresco also was able to identify a number of efficiency measures that qualified for reimbursement by Oregon’s SB1149, and helped the District secure a low-interest loan to finance the project.”

In addition to enhancing the identified schools, the efficiency measures and upgrades also support the District’s sustainability goals. The environmental benefits from implementing the energy efficiency measures include an annual reduction of approximately 790 tons of CO2 greenhouse gas emissions, which is the equivalent to removing 106 cars from the road or preserving 216 acres of mature trees each year.

The ESPC involves upgrades at the following schools: Brookwood Elementary School, Century High School, Farmington View Elementary School, Hillsboro High School, J.W. Poynter Middle School, Miller Education Center West, Mooberry Elementary School, North Plains Elementary School, Orenco Elementary School, Patterson Elementary School, R.A. Brown Middle School, Reedville Elementary School, and W.L. Henry Elementary School. 

The project is expected to be completed by year-end 2016.

About Hillsboro School District
Hillsboro School District is the fourth-largest public school district in the state of Oregon and is located about 20 miles west of Portland. The District currently serves more than 20,400 students in 25 elementary schools, four middle schools, four high schools, two alternative schools, and the state’s only public, non-charter online academy. The District has always looked forward with long-range planning efforts to manage growth and ensure fiscal responsibility.  Part of that responsibility includes keeping an eye toward environmental stewardship and providing efficient operations, including constructing the first LEED Gold certified public school building in the state of Oregon. For more information about the Hillsboro School District, visit http://www.hsd.k12.or.us/.

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 throughout North America and Europe. 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 included in our previously reported awarded backlog as of December 31, 2015.