Lendlease Partners with Ameresco for $102 Million Clean Energy Modernization Project at Hickam Communities
April 06 2022 - 10:50AM
Business Wire
Holistic energy solutions will significantly
increase energy efficiency, reduce carbon emissions, and increase
comfort of military families on Hickam Air Force Base
Ameresco, Inc., (NYSE: AMRC), a leading clean technology
integrator specializing in energy efficiency and renewable energy,
today announced a partnership with Hickam Communities LLC (HC),
owned and managed by Lendlease, at Joint Base Pearl Harbor-Hickam
(JBPHH) Air Force Base in Hawaii for a $102 million energy
conservation project and accompanying 25-year O&M service
agreement to assure the performance and savings. The project, which
brings in additional private capital without the need of
congressional appropriations, will provide holistic energy
solutions to modernize over 2,500 privatized military housing
units, and is expected to generate $13 million in annual cost
savings that would be used to pay for the improvements, financing
costs, and operations and maintenance services over the 25-year
performance period. This project further demonstrates the success
of the Military Housing Privatization Initiative (MHPI).
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220406005816/en/
“We are very pleased to be partnering with Ameresco on this
important sustainability initiative to modernize our 2,500 homes at
Hickam Communities,” said Carolyn Tregarthen, Managing Director for
Lendlease Communities. “Making HVAC systems more energy-efficient,
installing smart home energy thermostats, enhancing water systems,
and implementing LED lighting are just a few examples of how we’re
working closely with Ameresco to make our military housing
communities more environmentally resilient in order to provide
improved health and quality of life for our residents.”
Ameresco and Lendlease established a joint venture in 2015 known
as Energy Solutions and Security, LLC. This is the second project
for the joint venture to focus on clean energy, energy security and
resiliency at privatized military housing communities. A similar
energy security and modernization project is nearing the completion
of construction at Island Palm Communities, a partnership between
Lendlease and the U.S. Army across privatized housing on Oahu, also
in Hawaii.
At Hickam Communities, Ameresco will implement significant
efficiency upgrades to improve the energy performance of the homes
and enhance the comfort of the military families and personnel
occupying them. The project is designed to decrease HC’s grid-tied
consumption by 30% over the 25-year term of the project performance
period. Ameresco is replacing the community’s existing HVAC systems
with new, high-efficiency water source heat pump systems and
deploying smart home energy thermostats developed in concert with
HC to reduce energy waste in an intelligent way that balances
comfort and savings. To better control water use and wastewater
cost Ameresco is retrofitting water fixture devices, providing
irrigation system enhancements, and installing a web-enabled smart
irrigation control system. The project scope also includes the
installation of high-efficiency LED streetlights and interior
lighting.
“We’re looking forward to implementing a wide variety of
modernized upgrades across the homes at Hickam Communities. This
comprehensive project will deliver immediate and long-term value
for the area, prioritizing resident satisfaction and comfort
throughout the process,” said Nicole Bulgarino, Executive Vice
President and General Manager of Federal Solutions at Ameresco.
Construction on the project is expected to be completed early in
2025. Each proposed measure is designed to meet the sustainability
and energy objectives of Hickam Communities and the United States
Air Force.
About Lendlease
Lendlease is a leading global real estate and investment group
with operations in Australia, Asia, Europe and the Americas. Our
purpose is to create value through places where communities thrive.
Headquartered in Sydney, Australia, and listed on the Australian
Securities Exchange, Lendlease has approximately 8,200 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. In the US,
Lendlease’s Communities business is one of the nation’s leaders in
public/private community development. We manage one of the largest
military housing portfolios in the US and are the Army's exclusive
partner for lodging. With a focus on creating sustainable value,
Lendlease creates communities that regenerate our environment,
enrich people’s lives and foster economic growth. Lendlease has
worked extensively with the Department of Defense through the
Military Housing Privatization Initiative (MHPI), a program that
provides for the transfer of military housing assets to private
sector companies. With over 40,000 residential units, 192
apartments and more than 13,000 hotel rooms in its portfolio,
Lendlease will finance, develop, build, renovate and operate these
sites for at least 50 years. www.lendlease.com
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading
independent clean technology integrator 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 Europe. For more information, visit
www.ameresco.com.
The announcement of a customer’s entry into a 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 backlog. This
project was included in our previously reported awarded project
backlog in development as of December 31, 2021.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220406005816/en/
Media Contact: Ameresco: Leila Dillon, 508-661-2264,
news@ameresco.com Lendlease: Britni Ackrivo, 484-504-9920,
backrivo@gregoryfca.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