- Ameresco Inc (NYSE:AMRC) entered into a 15-year Energy as a Service (EaaS) agreement with Kauai Beach Resort for a $15.5 million energy efficiency renovation project.
- The partnership allows the 25-acre oceanfront resort to update and replace its energy-related equipment without any up-front capital.
- 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.
- Ameresco will begin design and construction this year to coincide with currently scheduled Kauai Beach Resort building upgrades.
- Ameresco plans to complete construction in the summer of 2023.
- Price Action: AMRC shares are trading lower by 1.05% at $92.26 on the last check Thursday.
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