Benzinga | Aug 25, 2021 01:15PM EDT

Ameresco Partners With Tarleton State University For Energy, Water Conservation Project

* Ameresco Inc (NYSE:AMRC) announced energy savings performance contract (ESPC) with Tarleton State University to develop an energy and water conservation project.

* Ameresco will work with Tarleton State to implement an energy and water conservation project that will realize a 21-23% reduction in electric consumption and a nearly 33% reduction in water consumption annually.

* Planned improvements at Tarleton State University include light-emitting diode (LED) lighting retrofits and replacements, water fixture improvements, controls, and instrumentation improvements, and HVAC lifecycle replacements. The project will be entirely self-funded using the utility savings generated by the conservation measures implemented.

* Project construction began in June 2021 and is expected to be completed by June 2022.

* Price Action: AMRC shares are trading higher by 1.54% at $69.72 on the last check Wednesday.