Kauai Beach Resort Secures Energy as a Service (EaaS) Agreement with Ameresco | Financial Buzz

Kauai Beach Resort Secures Energy as a Service (EaaS) Agreement with Ameresco

Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced it has entered into a 15-year Energy as a Service (EaaS) agreement with Kauai Beach Resort. The partnership allows the 25-acre ocean front resort to update and replace its energy-related equipment without any up-front capital.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211118006203/en/

Kauai Beach Resort partners with cleantech integrator, for a 15-year $15.5 million energy efficiency renovation project. (Photo: Business Wire)

Kauai Beach Resort partners with cleantech integrator, for a 15-year $15.5 million energy efficiency renovation project. (Photo: Business Wire)

Ameresco will install new lighting and air conditioning equipment in several phases over the next two years and maintain the improvements for the following 15 years. The upgrades include replacing 350 fan coil units with smart thermostats and humidity controls, a new central chiller plant with added redundancy for AC and hot water, new electrical transformers, a new building automation system to monitor and control temperatures in guest rooms, the kitchens and ballrooms, and updating the exterior lighting with LEDs throughout the resort.

“For us, it is imperative that we continually look for ways to innovate and provide our guests with an unforgettable experience. In order to do so, we need to always be looking for ways to improve and update our resort with the latest energy-efficient technology,” said Ben Dookchitra, Kauai Beach Resort Board President. “We are so excited to partner with Ameresco on this project to implement solutions that will reduce our energy demand and make our resort more sustainable.”

Ameresco will begin design and construction this year to coincide with currently scheduled Kauai Beach Resort building upgrades. By coordinating both projects, Kauai Beach Resort will reduce the amount of guest room downtime. Ameresco expects to complete construction in the summer of 2023.

“Engaging in such an expansive project that will bring critical infrastructure upgrades to life is no easy feat for a business like the Kauai Beach Resort,” said Britta MacIntosh, Senior Vice President, Ameresco. “But by utilizing 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 capital investment and deferring all renovation fees until cost savings benefits are realized.”

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 Kauai Beach Resort

Situated on 12 acres of lush Garden Isle goodness, the resort is centrally located between Kauai’s North and South shores, making it the perfect home base for island adventures. Just minutes from the airport and secreted down a tree-lined drive that leads straight to the ocean, the private sanctuary is framed by the island’s most sensational landscapes — 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 perfect day.

The announcement of a customer 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 assets in development as of September 30, 2021.

Contacts

Media Contact:

Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com

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