FRAMINGHAM, Mass. & KAUAI, Hawaii–(BUSINESS WIRE)–Ameresco, Inc., (NYSE: AMRC), a leading clean technology integrator specializing in energy efficiency and renewable energy, today announced that it has entered into a 15-year Energy-as-a-Service (EaaS) agreement with Kauai Beach Resort. The partnership allows the 25-acre resort to update and replace energy-related amenities without any upfront capital.
Ameresco will install new lighting and air conditioning equipment in phases over the next two years and maintain the upgrades for the next 15 years. Upgrades include the replacement of 350 fan coil units with smart thermostats and humidity controls, a new cooling plant with additional redundancy for AC and hot water, new electrical transformers, a new cooling system building automation to monitor and control temperatures in bedrooms, kitchens and ballrooms and updated exterior lighting with LEDs throughout the complex.
“For us, it is imperative that we continually look for ways to innovate and provide our customers with an unforgettable experience. To do this, we must always look for ways to improve and update our resort with the latest energy-efficient technologies,” said Ben Dookchitra, Chairman of the Board of Kauai Beach Resort. “We are excited to partner with Ameresco on this project to implement solutions that will reduce our energy demand and make our complex more sustainable.”
Ameresco will begin design and construction this year to coincide with currently planned building upgrades at Kauai Beach Resort. By coordinating the two projects, Kauai Beach Resort will reduce room downtime. Ameresco expects to complete construction in the summer of 2023.
“Committing to such a large project that will bring critical infrastructure upgrades to life is no easy task for a company like Kauai Beach Resort,” said Britta MacIntosh, Senior Vice President of Ameresco. . “But by using our Energy as a Service agreement, the resort will be able to simultaneously reduce its energy consumption and overall utility costs, while making no upfront investment and deferring all renovation costs until the cost savings are achieved.”
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 clean technology integrator and developer, owner and operator of renewable energy assets. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to customers across North America and the UK. Ameresco’s sustainability services in support of customers’ 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 and environmentally responsible projects with federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has over 1,000 employees providing local expertise in the United States, Canada and the United Kingdom. For more information, visit www.ameresco.com.
About Kauai Beach Resort
Set on 12 acres of lush Garden Isle goodness, the resort is centrally located between the North and South shores of Kauai, making it the perfect base for island adventures. Minutes from the airport and tucked away down a tree-lined driveway that leads directly to the ocean, the private sanctuary is framed by some of the island’s most stunning scenery – paradise is our backdrop. Experience the perfect blend of traditional Hawaiian hospitality and culture, with all the modern touches that are the way to make the day perfect.
The announcement of a customer contract is not necessarily indicative of the timing or amount of revenue from that contract, the company’s overall revenue for a particular period, or trends in the company’s total backlog. This project was included in our previously reported assets under development as of September 30, 2021.