Lendlease and Ameresco Partner on $150 Million Energy Security Modernization Project
June 27 2018 - 10:10AM
Business Wire
First project under joint venture between the
two infrastructure companies that provides energy and security
modernization for over 5,800 Military Homes at Island Palm
Communities in Hawaii that is managed by Lendlease
Lendlease, a leading international property and infrastructure
group and Ameresco, Inc. (NYSE: AMRC), a leading energy efficiency
and energy infrastructure company, today announced the companies
have partnered to modernize more than 5,800 privatized military
housing homes at Island Palm Communities in Hawaii through a $150
million energy security and modernization project to provide
turnkey energy efficiency improvements and new solar energy
systems.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180627005841/en/
Ameresco and Lendlease established a joint venture in 2015 known
as Energy Solutions and Security, LLC. This is the first project
for the joint venture to focus on energy security and resiliency at
a large privatized military housing community.
“This project is a first-of-its-kind joint venture for Ameresco,
and we are proud to partner with Lendlease on this comprehensive
energy modernization project to serve military service members and
their families at Island Palm Communities,” said George P.
Sakellaris, President and Chief Executive Officer of Ameresco.
“Through this strategic endeavor, Ameresco continues to build upon
its energy expertise in serving the broader U.S. Federal government
market.”
“The project is designed to reduce energy consumption at Island
Palm Communities by one-third and is the first step in a
coordinated, multiphase strategy to provide net zero energy
solutions to the residential community,” said Craig Carson, General
Manager, Lendlease Energy Development. “This is a good example of
Lendlease leveraging its energy development capabilities to provide
comprehensive energy solutions to its customers.”
A variety of energy efficiency improvements will be made to the
homes, including new highly-efficient HVAC systems to improve
resident comfort, reduce mechanical outages, and standardize HVAC
system type across the portfolio to lower O&M costs. The energy
project will also provide housing envelope improvements,
weatherization sealing, attic insulation, domestic water
conservation, residential and street lighting improvements through
LED lighting technology, as well as the installation of 6.1MW of
new rooftop solar PV energy systems throughout Island Palm
Communities. The additional solar deployment further reduces IPC’s
net effective portfolio electric rate and carbon footprint by
increasing the proportionate use of clean renewable energy and
decreasing consumption of grid-supplied power.
Construction will begin in September 2018 and is expected to be
completed by August 2021. Island Palm Communities is a partnership
between Lendlease and the U.S. Army, and is the largest military
residential privatization project awarded by the Army. The project
supports the core mission of Island Palm Communities, as well as
U.S. Army strategic energy priorities to enhance energy security,
reliability and resiliency. Working in close partnership, Lendlease
and the U.S. Army both see tremendous value in innovation that
provides best-in-class results to the business.
The modernization project is designed after the Energy Savings
Performance Contracting (ESPC) model and provides economic and
environmental benefits to the long-term sustainability and
reliability of Island Palm Communities. The alternatively-financed
project allows for immediate upgrades to critical home equipment,
such as legacy HVAC systems which need repair and replacement.
About Lendlease
Lendlease is a leading international property and infrastructure
group with operations in Australia, Asia, Europe and the Americas.
Our vision is to create the best places; places that inspire and
enrich the lives of people around the world.
Headquartered in Sydney, Australia, and listed on the Australian
Securities Exchange, Lendlease has approximately 12,740 employees
internationally.
Our core capabilities are reflected in our operating segments of
Development, Construction and Investments. The combination of these
three segments provides us with a sustainable competitive advantage
and allows us to provide innovative integrated solutions for our
customers. www.lendlease.com
About Ameresco
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 an energy services
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 and assets in development or operation. This
project was reported in our awarded backlog and assets in
development as of March 31, 2018.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180627005841/en/
Ameresco, Inc.CarolAnn Hibbard,
508-661-2264news@ameresco.comorLendleaseJohn DeLibero,
212-592-6895John.delibero@lendlease.com
Ameresco (NYSE:AMRC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ameresco (NYSE:AMRC)
Historical Stock Chart
From Apr 2023 to Apr 2024