Ameresco to install 560 kW of solar power in Massachusetts
(ADPnews) - Oct 20, 2010 - US energy efficiency solutions provider Ameresco Inc (NYSE:AMRC) said on Tuesday it had nabbed several contracts from the Massachusetts State Department of Energy Resources (DOER) to install a total of 560 kW of solar systems on five state buildings.
The solar facilities, stationed on the roofs of two airport terminals, two colleges and the Canton Housing Authority, will produce 700,000 kWh of clean energy a year. The systems will use Sharp solar panels and inverters made by local sector player Solectria.
Ameresco will design, construct, finance, own, and operate solar power systems benefiting from the Massachusetts Solar Stimulus Program (MaSS) which uses funds under the American Recovery and Reinvestment Act to scale down the capital expenses on such projects.
Under 20-year power purchase agreements, Ameresco will sell the output of the solar systems to the state facilities at a discount to their current electricity bills.