Benzinga | Oct 19, 2021 03:28PM EDT

Ameresco Reports Partnership With Trent University For Energy Performance Upgrades, No Terms Disclosed

Ameresco, Inc., (NYSE:AMRC), a leading clean technology integrator specializing in energy efficiency and renewable energy, today announced a partnership with Trent University, a leading environmental institution, to install various energy efficiency upgrades, including an on-campus Battery Energy Storage System (BESS), that aim to further reduce the University's carbon footprint, while supporting the provincial energy grid.

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Trent University partners with cleantech integrator, Ameresco, on new cost-saving battery energy storage system that will improve energy infrastructure and benefit provincial energy grid. (Photo: Business Wire)

"This project is an exciting next step in Trent's ongoing commitment to environmental and sustainable initiatives on campus," says Tariq Al-Idrissi, acting Vice President of Finance and Administration at Trent University. "Our renewed Energy Performance Contract with Ameresco builds on previous energy saving projects such as converting the campus lighting to LEDs, implementing smart ventilation systems and using solar energy to power the new zero-carbon Forensics Crime Scene Facility, the first of its kind in Canada."

The BESS will store energy overnight, when the provincial grid is producing the lowest cost and lowest carbon energy and use it to power the campus at strategic times when the Ontario system operators typically turn to gas-fired generation to meet atypical high demand for electricity. Taking this action on campus contributes to Ontario's Industrial Conservation Initiative and will result in an expected reduction in Global Adjustment fees of over $1 million annually. These savings will fund the BESS installation as well as extensive upgrades to Trent's electrical infrastructure.

"One of the amazing things about working with customers on projects like these is finding energy-saving solutions that work for them and generate significant cost savings in the long run," said Bob McCullough, President, Ameresco Canada. "By taking a collaborative approach right from the start, we can work together to develop solutions that prioritize sustainability and durability."

The Energy Performance Contract amendment between the University and Ameresco was recently approved by Trent's Board of Governors, with construction scheduled to commence later in the fall. Proposed upgrades include the installation of a 2.5MW/5 MWh BESS, the replacement of aging switchgear components and the implementation of a carport canopy photo-voltaic (PV) and electric vehicle (EV) charging station. The PV and EV charging station will complement the newly installed BESS and reduce the University's greenhouse gas emissions.