Ameresco inks 15-yr, $15 million EaaS agreement with Kauai Beach Resort
Nov. 18, 2021
Ameresco announced it has entered into a 15-year Energy as a Service (EaaS) agreement and partnership with Kauai Beach Resort, including a $15.5 million energy efficiency renovation project.
Ameresco, Inc. (NYSE: AMRC), a cleantech integrator specializing in energy efficiency and renewable energy projects, today announced it has entered into a 15-year Energy as a Service (EaaS) agreement with Hawaii's Kauai Beach Resort.
The new partnership allows the 25-acre ocean front resort to update and replace its energy-related equipment without any up-front capital.
Under terms of an agreement, Ameresco will install new lighting and air conditioning equipment in several phases at the resort over the next two years, and maintain the improvements for the following 15 years.
Upgrades will include:
Replacing 350 fan coil units with smart thermostats and humidity controls.
A new central chiller plant with added redundancy for AC and hot water.
New electrical transformers.
A new building automation system to monitor and control temperatures in guest rooms, and the resort's kitchens and ballrooms.
Updating exterior lighting with LEDs throughout the resort.
Ben Dookchitra, Kauai Beach Resort Board President, commented, “For us, it is imperative that we continually look for ways to innovate and provide our guests with an unforgettable experience. In order to do so, we need to always be looking for ways to improve and update our resort with the latest energy-efficient technology. We are so excited to partner with Ameresco on this project to implement solutions that will reduce our energy demand and make our resort more sustainable.”
Ameresco said it will begin design and construction this year to coincide with currently scheduled Kauai Beach Resort building upgrades. By coordinating both projects, Kauai Beach Resort will reduce the amount of guest room downtime. Ameresco expects to complete construction in the summer of 2023.
Britta MacIntosh, Senior Vice President, Ameresco, concluded, “Engaging in such an expansive project that will bring critical infrastructure upgrades to life is no easy feat for a business like the Kauai Beach Resort. But by utilizing our Energy as a Service agreement, the resort will be able to simultaneously reduce its energy consumption and overall utility costs, while making no upfront capital investment and deferring all renovation fees until cost savings benefits are realized.”
