City of Bristol selects Ameresco and
subcontractor Vattenfall Heat UK, for large multi-pronged approach
to build the city’s future smart energy system
Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator
specializing in energy efficiency and renewable energy, today
announced that its subsidiary, Ameresco Ltd., has been selected as
a partner in the Bristol City Leap project, a 20-year concession to
decarbonize the city. In partnership with numerous City of Bristol
stakeholders, Ameresco, in collaboration with Vattenfall Heat UK,
will work through a unique public private partnership structure to
provide services including energy efficiency upgrades, wind and
solar services, project financing, long-term operation and
maintenance and more. The Bristol City Leap project is intended to
operate over a 20-year term, targeting net zero goals through a
series of energy and infrastructure investment opportunities,
attracting approximately £1 billion of inward investment.
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City of Bristol selects partnership with
Ameresco for large multi-pronged approach to take action on climate
change and achieve carbon neutrality by 2030. (Photo: Business
Wire)
The project will span the 34 ward areas that make up the City of
Bristol. Services will address all sectors of the built
environment, including public sector facilities like hospitals,
universities, and schools, as well as industrial, commercial and
residential buildings throughout the Bristol community. The City
Leap program is designed to enable Bristol to experience lower
energy costs, cleaner air, improved energy infrastructure and a
boost to the local economy through the city-wide decarbonization
effort.
Councillor Craig Cheney, Deputy Mayor with responsibility for
Finance, Governance and Performance said: “City Leap means large
investment in Bristol’s energy systems and our ambitious carbon
targets. We are creating a long-term partnership on a scale that
will bring investment into the much-needed decarbonization of our
energy system.”
“City Leap will have a real impact for Bristol residents
including the way people move around the city and the ways that we
power and heat our homes. It will help us to move much more quickly
towards carbon neutrality, creating a cleaner, greener and
healthier city that is truly fit for the future. With City Leap,
Bristol will become a focal point for new low carbon technologies
and smart energy systems whilst creating thousands of jobs and
ensuring a just transition. I’m pleased to see a potential partner
that shares our vision for a better, zero-carbon Bristol.”
Ameresco, in partnership with Vattenfall, will work with energy
groups, city stakeholders and local Bristol businesses to install a
full range of technologies aimed at optimizing city-wide electrical
infrastructure. Over the first five years of the partnership, the
project is expected to deliver c140,000 tonnes of carbon savings,
and c182MW of zero-carbon energy generation. Additionally, the
partnership is expected to deliver a wealth of social and economic
benefits for the residents and businesses of Bristol, including
c£61m of estimated social value, c£55m of contracts to be delivered
by local suppliers including an increase in local jobs,
apprenticeships and work placements. The development and
implementation of ongoing low-carbon, energy resilient investments
will help Bristol reach its carbon neutrality goals.
“Our team is thrilled to be a part of such an incredible
initiative taken by the City of Bristol that will hopefully open
the eyes of neighboring areas to the possibilities that exist
within city-wide decarbonization projects,” said Britta MacIntosh,
Senior Vice President of Ameresco. “The announcement of the Bristol
City Leap project is the first time that a UK city has embarked on
such a comprehensive, transformative plan to decarbonize an entire
city’s energy system by 2030. We applaud their leadership,
innovation and steadfast focus on this plan.”
Mike Reynolds, Managing Director of Vattenfall Heat UK said, “We
are very excited to be able to build upon the strong foundations
established by Bristol City Council in getting the first district
heating networks installed in Bristol. We have big plans to roll
out the heat network quickly and at scale to serve the people of
Bristol with reliable, affordable low carbon heat. Our partnership
with Ameresco means we are able to apply the right technology in
the right area of the city—bringing district heating to where it is
best suited, as well as individual heat pumps where they are more
cost-effective.”
The final award is subject to approval by the City of Bristol
Mayor and Cabinet, which is expected on April 5, 2022. To learn
more about the energy efficiency solutions offered by Ameresco,
visit www.ameresco.com/energy-efficiency/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading
cleantech integrator and renewable energy asset developer, owner
and operator. Our comprehensive portfolio includes energy
efficiency, infrastructure upgrades, asset sustainability and
renewable energy solutions delivered to clients throughout North
America and the United Kingdom. Ameresco’s sustainability services
in support of clients’ pursuit of Net Zero include upgrades to a
facility’s energy infrastructure and the development, construction,
and operation of distributed energy resources. 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.
About Vattenfall Heat UK
Vattenfall Heat UK delivers on low-carbon heating, cooling and
power solutions through a commitment to enable fossil free living
within one generation. We're an energy partner at the forefront of
affordable and reliable low-carbon heating in the UK. The growth of
our district heating business is accelerating in line with our
purpose of powering climate smarter living. Vattenfall Heat UK is
part of the wider Vattenfall Group, one of Europe’s largest
producers and retailers of electricity and heat with approximately
20,000 employees. heat.vattenfall.co.uk www.vattenfall.com/uk
About Bristol City Leap
City Leap is a long-term (20 year) partnership between the
Council and a private sector organization to accelerate green
energy investment in Bristol and help the council achieve its net
zero carbon ambitions. City Leap’s projects and investments will
have an impact on many aspects of life for Bristol residents
including the way people move around the city (e.g. EV charging
points) and the way we power and heat our homes (e.g. mass roll out
of solar panels, expanding the city’s heat network and
decarbonizing our social housing stock). Our partner will bring
investment into the city to deploy solutions which are (or become)
commercially viable and deliver significant social value for
Bristol’s communities. For initiatives which require government
funding, City Leap will demonstrate the ability to move at pace,
making Bristol a natural partner to government and an example for
other cities and regions to follow.
For the citizens of Bristol, City Leap has the potential to
deliver a better quality of life by improving the warmth and
comfort of homes, improving air quality and creating thousands of
jobs in energy and related supply chains. For investors and
partners, City Leap will offer a competitive return on investments,
the chance to create and test new energy propositions and business
models which are replicable at a national and international scale.
Like all cities Bristol’s energy system is set to undergo a
transformation. City Leap has the potential to facilitate this
change by use of real time data, investment in energy storage and
distributed energy generation to create a genuinely smart energy
system for Bristol. The council has delivered over £92m worth of
low-carbon projects in the last five years and City Leap takes this
learning to date, leveraging our expertise to create a much larger
and more ambitious program.
Forward Looking Statements
Any statements in this press release about future expectations,
plans and prospects for Ameresco, Inc., including statements about
the future award of and metrics for the Bristol City Leap project
and other statements containing the words “projects,” “believes,”
“anticipates,” “plans,” “expects,” “will” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward looking
statements as a result of various important factors, including
whether the Bristol City Leap project is finally awarded to
Ameresco and whether Ameresco can reach agreement governing the
project on favorable terms (or at all) and other factors discussed
in our Annual Report on Form 10-K for the year ended December 31,
2021, filed with the U.S. Securities and Exchange Commission (SEC)
on March 1, 2022. The forward-looking statements included herein
represent our views as of the date hereof. We anticipate that
subsequent events and developments will cause our views to change.
However, while we may elect to update these forward-looking
statements at some point in the future, we specifically disclaim
any obligation to do so. These forward-looking statements should
not be relied upon as representing our views as of any date
subsequent to the date hereof.
The award was received after December 31, 2021, but this award
is not expected to have a material impact to Ameresco’s financial
results for the fiscal year ending December 31, 2022. Ameresco is
evaluating the expected effect of the agreement on its future
financial results and will provide an update on impact of this
program as it is contracted over the coming years.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220329005416/en/
Media: Ameresco: Leila Dillon, +1 508-661-2264,
news@ameresco.com Vattenfall: Emily Faull, +447816060507,
emily.faull@vattenfall.com City of Bristol: James Sterling,
+447772441759, james.sterling@bristol.gov.uk
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