FOR IMMEDIATE RELEASE: October 23, 2018
NYCHA ANNOUNCES NEW $104.6 MILLION ENERGY CONTRACT TO IMPROVE EFFICIENCY, HEATING AT 15 DEVELOPMENTS
The $104.6 million project is NYCHA’s fourth since 2015 and the Authority’s largest Energy Performance Contract (EPC) to date. It will upgrade heating, lighting, building ventilation systems, and water conservation at 15 developments comprising 15,000 apartments
This project will save NYCHA $154.6 million in energy and water costs over the 18-year financing term, and reduce energy use by 21 percent, advancing NYCHA’s Sustainability Agenda goal of 20 percent energy use reduction by 2026.
NEW YORK – The New York City Housing Authority (NYCHA) announced today that it is commencing work with Ameresco, Inc. on an Energy Performance Contract (EPC) valued at $104.6 million.
The project is the fourth and largest to date in NYCHA’s series of large-scale EPCs under the U.S. Department of Housing and Urban Development (HUD)’s EPC program, as well as the largest HUD has ever approved. It will mean almost 15,000 homes in 15 NYCHA developments across the Bronx, Brooklyn, Manhattan, and Queens will see upgrades in heating, lighting, and building ventilation systems, as well as water conservation.
Undertaken as part of NYCHA’s initiative to improve quality of life and energy efficiency across its portfolio, the project furthers NYCHA’s NextGeneration Sustainability Agenda goals of raising $300 million in EPC financing and reducing energy use by 20 percent by 2026.
This new Energy Performance Contract ensures both that our residents can see necessary improvements to their quality of life and that NYCHA continues to invest in a more sustainable future,” said NYCHA General Manager Vito Mustaciuolo. “This program and the upgrades that follow are vital to ensure we can address our critical infrastructure needs head on.
We are delighted to continue to expand our long-standing public-private partnership with NYCHA,” said David J. Anderson, Executive Vice President and Director of Ameresco. “As a leading energy services provider, we are proud to deliver this $100 million project, which is the largest in the history of HUD’s EPC Program. At over 20 percent energy savings across the 15-site portfolio, this project will significantly contribute to NYCHA’s NextGen Initiative and New York City’s One City Built to Last sustainability goals. I applaud NYCHA for its continued commitment to improving the living standards for its residents by making energy conservation and sustainability a priority.”
As with the three prior EPC projects undertaken by NYCHA since late 2015, the primary goal of the project is to upgrade and modernize heating systems to deliver more consistent and comfortable heat. The scope of work includes:
NYCHA also remains committed to providing job‐training and connections to career opportunities. NYCHA residents who have graduated from Green City Force (GCF), an AmeriCorps program engaging NYCHA youth in service, training, academics, and work experiences related to the clean energy economy, will be hired to install water conservation upgrades and replace all interior light bulbs with LED bulbs. Ameresco and its contractors are required to meet HUD Section 3 and NYCHA Resident Employment Program requirements throughout the EPC.
Once construction is complete, the entire project is expected to save NYCHA 23.5 percent of its fuel consumption, resulting in an average annual cost savings of $8.6 million. Overall, NYCHA’s EPC program has so far resulted in four projects totaling $271.8 million to date, which affect more than 60,000 apartments and 144,000 residents in 72 developments.
“With this EPC, NYCHA has reached $271.8 million toward our $300 million goal for 2025, and we will continue to pursue EPCs aggressively well past the $300 million mark,” said Bomee Jung, NYCHA Vice President of Energy and Sustainability. “Funding for capital improvements is always precious and EPCs provide additional funds above and beyond City, State, and HUD capital.”
Since the 2016 release of NYCHA’s Sustainability Agenda, the Authority has been working with government and private sector partners to provide better services for residents, reduce energy use and costs, and curb the effects of climate change. In addition to the EPCs, work is underway to upgrade heating, hot water, interior and exterior lighting, and ventilation systems in buildings across the city through various energy programs. NYCHA has also been working with HUD on these large-scale EPCs in a program to raise $300 million in private capital, representing the largest energy savings program for any public housing authority. These combined efforts will enable NYCHA to upgrade 120,000 apartments at up to 130 developments, or 67 percent of the Authority’s building portfolio, benefiting nearly 262,000 residents.List of Developments
About the New York City Housing Authority (NYCHA)
NYCHA’s mission is to increase opportunities for low- and moderate-income New Yorkers by providing safe, affordable housing and facilitating access to social and community services. Almost 400,000 New Yorkers reside in NYCHA’s 325 public housing developments around the five boroughs, and another 202,000 receive subsidized rental assistance in private homes through the NYCHA-administered Section 8 Leased Housing Program. For more information, visit www.nyc.gov/nycha, and for regular updates on NYCHA news and services, connect with us viawww.facebook.com/NYCHA and www.twitter.com/NYCHA.
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 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 the United Kingdom. For more information, visit www.ameresco.com.