Lendlease and Ameresco Partner on $150 Million Energy Security Modernization Project

27 Jun 2018

Lendlease, a leading international property and infrastructure group and Ameresco, Inc. (NYSE: AMRC), a leading energy efficiency and energy infrastructure company, 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.

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.

Lendlease | http://www.lendlease.com

Ameresco | http://www.ameresco.com