Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company today announced the Company has moved forward with construction of the Town of Sturbridge’s long-awaited 2.4 MW solar facility. The solar array will be located on property behind the Center at Hobbs Brook that is otherwise considered unusable land due to its location.
The multi-million-dollar solar project will provide renewable energy in support of the Town’s commitment to environmental stewardship and sustainable practices, and will help to significantly reduce energy costs. The 20-year power purchase agreement (PPA) is expected to provide millions of dollars in electricity cost savings over the duration of the contract. Under the PPA, fifty percent of annual electricity generated from the facility will be used by the Town in the form of metering credits, and the other half by the Community Solar Program which will deliver the green power to residents in the region.
“We are excited that the Town’s solar project is finally moving forward,” said Leon Gaumond, Town Administrator, Sturbridge. “This project will go a long way to meet the Town’s energy goal of increasing our alternative energy production.”
“It’s a pleasure for Ameresco to partner with the Town of Sturbridge and the greater community to build and manage this new renewable energy project,” said Michael T. Bakas, Senior Vice President, Ameresco. “We commend Town leadership for being fiscally prudent in selecting a project that will generate long-term savings and admire the community’s commitment to sustainability.”
The annual environmental benefits of this project are equivalent to the greenhouse gas emissions from 8,868 passenger vehicles driven a year or 4,433 homes’ energy use for one year.
The project is expected to be completed and operational in early 2017.
