Ameresco Breaks Ground on PIDC’s 6MW Natural Gas-fired Peaking Plant Project at the Navy Yard in Philadelphia

Once complete the plant is expected to provide peaking generation,
PJM ancillary service participation, resiliency and microgrid
integration capabilities.

FRAMINGHAM, Mass. & PHILADELPHIA–(BUSINESS WIRE)–#microgrid—Ameresco,
Inc., (NYSE:AMRC), a leading energy
efficiency and renewable
energy company, today announced that the project with PIDC,
Philadelphia’s public-private economic development corporation and
master developer of the Navy Yard, is underway. Ameresco broke ground on
this innovative project that includes a comprehensive design,
engineering, building, and long-term operation and maintenance of the
new six megawatt (MW) natural-gas fired peaking plant that will anchor
one of the largest private microgrids in the United States located at
the Navy Yard in Philadelphia.

“This new on-site generation facility will help support the energy
demand for the 1,200-acre campus as businesses continue to locate here
and grow, while remaining in line with the Navy Yard’s commitment to
smart energy initiatives and sustainability,” said Prema Gupta, Senior
Vice President, Navy Yard Planning, Development, and Operations at PIDC.
“Ameresco is not only designing and developing a project that addresses
the Navy Yard’s energy growth needs, reliability requirements, and cost
targets, but one that can also provide back-up and resiliency support as
required.”

Once operational, the multi-million-dollar peaking plant is anticipated
to run during the Navy Yard’s peak demand periods and during intervals
of high-cost energy and capacity from the grid. By generating power
during peak times, the project will allow PIDC to reliably meet the
projected demand growth needs of the Navy Yard and its tenants. The
plant will allow PIDC to participate in the PJM Ancillary Service Market
and generate revenues to help offset the cost of the increased capacity.

“Ameresco is extremely proud of our partnership with PIDC and we’re
excited to move this critical infrastructure project underway,” said
Michael T. Bakas, Senior Vice President, Ameresco. “As a key component
of the Navy Yard’s leading-edge microgrid, the plant will be capable of
providing certain resiliency services and critical support in the event
of extended grid outages in addition to shaving the peak load
requirements of the microgrid. This role for Ameresco leverages its
depth of experience at developing and operating comprehensive,
distributed energy systems integrated into microgrids that serve mission
critical facilities for resiliency and cost control purposes.”

The project is expected to be operational in late 2017. Once complete,
we anticipate holding a public ribbon-cutting celebration at the Navy
Yard site before year-end.

About PIDC
PIDC is Philadelphia’s public-private economic
development corporation. A non-profit founded in 1958 by the City of
Philadelphia and the Greater Philadelphia Chamber of Commerce, PIDC’s
mission is to spur investment, support business growth, and foster
developments that create jobs, revitalize neighborhoods, and drive
growth to every corner of Philadelphia. Over the past 59 years, PIDC has
settled over 6,900 transactions with a diverse range of clients –
including nearly $15 billion of financing and more than 3,100 acres of
land sales – which have leveraged over $26 billion in total investment
and assisted in retaining and creating more than half a million jobs in
Philadelphia.

In its master developer role at the Navy Yard, PIDC manages all aspects
of the property’s management and development, including master planning,
leasing, property management, infrastructure development, utility
operation, and structuring development transactions. The Navy Yard is
home to more than 13,000 employees and 150 companies in the office,
industrial, manufacturing, and research and development sectors,
occupying 7.5 million square feet of real estate in a mix of historic
buildings and new high-performance and LEED® certified construction
situated around world-class parks. For more information about PIDC and
the Navy Yard, visit www.PIDCphila.com
and follow us @PIDCphila @NavyYardPhila on Twitter.

About Ameresco, Inc.
Founded in 2000, Ameresco, Inc.
(NYSE:AMRC) is a leading independent provider of comprehensive services,
energy efficiency, infrastructure upgrades, asset sustainability and
renewable energy solutions for businesses and organizations throughout
North America and Europe. Ameresco’s sustainability services include
upgrades to a facility’s energy infrastructure and the development,
construction and operation of renewable energy plants. Ameresco has
successfully completed energy saving, environmentally responsible
projects with Federal, state and local governments, healthcare and
educational institutions, housing authorities, and commercial and
industrial customers. With its corporate headquarters in Framingham, MA,
Ameresco has more than 1,000 employees providing local expertise in the
United States, Canada, and the United Kingdom. For more information,
visit www.ameresco.com.

The announcement of a customer’s entry into a project contract is not
necessarily indicative of the timing or amount of revenue from such
contract, of the company’s overall revenue for any particular period or
of trends in the company’s overall total construction backlog. This
project was included in our previously reported fully-contracted backlog
as of March 31, 2017.

Contacts

Ameresco, Inc.
CarolAnn Hibbard, 508-661-2264
news@ameresco.com