Governor Chafee Joins Community College of Rhode Island and Ameresco for Energy Efficiency Project Ribbon-Cutting

WARWICK, R.I. and FRAMINGHAM, Mass. --(Business Wire)--

Ameresco Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, today joined with Community College of Rhode Island (CCRI) to host Gov. Lincoln D. Chafee and local leaders to commemorate the completion of the first phase of a $14.8 million multi-phase Energy Savings Performance Contract (ESPC) that encompasses four campuses.

During the ribbon-cutting event hosted at the Warwick-based Knight Campus, CCRI President Ray Di Pasquale, Warwick Mayor Scott Avedisian, Rhode Island officials and Ameresco executives recognized the economic and environmental benefits of the ESPC that is expected to save the college an estimated $1.2 million annually.

"The energy efficiency improvements completed by CCRI and Ameresco demonstrate the progress being made toward a more sustainable future for Rhode Island," said Gov. Lincoln D. Chafee. "The approach used here is an excellent example for other nonprofits and businesses throughout Rhode Island of how to help our environment, our economy, and your bottom line."

This budget-neutral project will enable the community college to apply cost savings from energy-efficient equipment to help renew campus facilities and building systems. Ameresco installed energy efficient technology that will reduce energy and water costs while improving CCRI's overall sustainability efforts. Although the heaviest concentration of efficiency work was completed at the Knight Campus, CCRI's four campuses all have received upgrades.

"As the largest community college in New England with a student population of nearly 18,000, we recognized the need to evaluate and reduce our overall environmental impact," said CCRI President Ray Di Pasquale. "Through our partnership with Ameresco, we have improved our sustainability while also realizing significan cost savings that can be reinvested in infrastructure to further enhance student life."

"I am very pleased to join Gov. Chafee and President Di Pasquale as CCRI celebrates completion of the first phase of this exciting project," said Warwick Mayor Scott Avedisian. "This will save the college a significant amount of money annually and improve campus facilities, which is great news for the college and its students, faculty and staff. Equally important is that the numerous improvements that have been made will help the college in its efforts to conserve our natural resources, which sends a great message to CCRI's students and the larger community about the need to protect and preserve our environment."

As part of the ESPC, Ameresco provided an alternative fuel source for electricity by bringing natural gas service to both the Warwick and Lincoln campuses. These upgrades will help to maintain consistent and reasonable levels of occupant comfort and building functionality, which, in turn, will reduce maintenance needs, improve indoor air quality, lower energy consumption, and maximize the efficiency of the campus and the comfort of its population without disturbing the college's ongoing educational operations.

"The Community College of Rhode Island is a forward-thinking institution committed to environmental stewardship and we are very pleased to partner with them on their sustainability initiatives," said George P. Sakellaris, President and CEO, Ameresco. "CCRI has undertaken projects and infrastructure improvements that set the college at the forefront of providing a better learning environment for its students and staff. In addition to improvements on campus, the broader community also benefits from local jobs and the local investment."

Ameresco has a strong track record of partnering with institutions of higher education across the nation to help them apply their strained budgets wisely and facilitate needed improvements to their energy infrastructure. The increasingly popular ESPC financing model allows the customer to immediately reap the benefits of increased energy efficiency in a budget-neutral manner by guaranteeing the energy savings will exceed the initial investment of the project.

About CCRI

The Community College of Rhode Island, New England's largest community college, has full-service campuses in Warwick, Lincoln, Providence and Newport and operates satellites in Westerly and at the Shepard Building in Providence. CCRI enrolls an average of nearly 18,000 students annually in credit courses and thousands more in noncredit and workforce training classes and programs. For more information, visit www.ccri.edu/.

About Ameresco, Inc.

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 facilities throughout North America. Ameresco's 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, health care and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, Mass., Ameresco provides local expertise through its 63 offices in 34 states and five Canadian provinces. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.