Ameresco and Velarium Complete $30M Geothermal Energy Efficiency Project at Fort Polk Military Housing

Key Terms

energy savings performance contract financial

An energy savings performance contract is a long-term agreement where an energy service company installs efficiency upgrades (like new lighting, heating or controls) and guarantees that the owner’s utility bills will drop enough to cover the work and finance costs. Think of it as hiring a contractor who pays upfront and gets repaid from the actual energy savings; for investors it creates predictable cash flow, shifts performance risk to the contractor, and can affect a property’s operating costs and credit profile.

ground‑source heat pump technical

A ground‑source heat pump is a heating and cooling system that moves heat to or from the stable temperatures just below the earth’s surface using buried pipes and a small amount of electricity. For investors, it matters because these systems cut energy bills and greenhouse gas emissions, can qualify for government incentives, and may boost property value and long‑term operating margins in markets shifting toward cleaner, more efficient buildings.

advanced metering technical

Advanced metering is the use of digital meters and communication systems that record and transmit detailed energy, water, or gas usage in near real time instead of relying on manual readings. Like swapping a paper odometer for a live GPS feed, it gives utilities and customers precise usage patterns that help reduce waste, detect leaks or theft, enable time-based pricing and automate billing. Investors care because it can lower operating costs, support new revenue services, improve regulatory compliance and change capital spending and returns for utility companies.

Upgrades support resilience and quality of life for nearly 4,000 military families at first U.S. Army installation to deploy geothermal systems across all homes

FRAMINGHAM, Mass. & FORT POLK, La.--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE: AMRC), a leading energy infrastructure solutions provider, and Velarium Energy, a trusted services and solutions partner to the Department of War (DOW), today announced the successful completion of an Energy Savings Performance Contract (ESPC) valued at over $30 million to modernize U.S. Army military family housing at Fort Polk, Louisiana.

Building resilient, energy‑efficient infrastructure for military family housing.

The upgrades are projected to reduce the Fort Polk family housing portfolio’s annual electrical consumption by 30% and deliver more than $2.6 million in annual utility and operational cost savings. The project modernizes residential energy systems, enhancing comfort and improving efficiency for military families across 3,600 homes owned and operated by Corvias, a partner of choice to DOW. Beyond delivering long-term savings to the installation, the initiative fostered local economic growth by investing in the community and supporting the local workforce.

“We are proud to partner with Ameresco to help improve quality of life for service members and their families while advancing the Army’s long-term energy goals,” said Pablo Varela, Executive Vice President, Velarium Energy. “This project demonstrates what’s possible when public and private partners bring together domestic manufacturing, technology efficiencies, and long-term investment to deliver scalable energy solutions that can be replicated across military installations nationwide.”

The project’s improvements include replacing traditional HVAC systems with renewable, Oklahoma‑manufactured ground‑source heat pump (GSHP) technology, completing a comprehensive geothermal conversion across all homes on the installation. Prior project phases include the deployment of advanced metering for improved energy management, installation of high-efficiency LED lighting throughout residential units, and optimization of hot water systems, leveraging GSHP technology to more efficiently generate hot water. These measures collectively reduce maintenance demands, boost long-term reliability, and improve Fort Polk’s overall energy resilience.

“This milestone reinforces our commitment to delivering resilient, energy-efficient housing solutions for our military families,” said Nicole Bulgarino, President of Federal Solutions and Power Infrastructure at Ameresco. “Fort Polk is now the first Army installation to complete a full geothermal transition across all homes, strengthening resiliency, and long-term sustainability.”

The benefits achieved through this family housing ESPC at Fort Polk underscore the long‑term value of geothermal infrastructure, which uses stable underground temperatures to heat and cool homes more efficiently. With family housing now operating on advanced GSHP technology, military families will benefit from improved year‑round comfort, lower energy costs, and greater long-term reliability.

Known as the “Home of Heroes,” Fort Polk is a cornerstone of U.S. Army readiness and serves as the premiere U.S Army combat training center to prepare units for worldwide deployment. The installation spans more than 198,000 acres in the heart of Louisiana’s Sportsman’s Paradise.

To learn more about Ameresco’s energy savings performance contracting, visit www.ameresco.com/espc-energy-savings-performance-contract/

About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading energy infrastructure solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering energy infrastructure solutions to Federal, state and local governments, utilities, data centers, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

About Velarium Energy
Velarium Energy is a trusted energy partner delivering value-added infrastructure and services that strengthen resiliency, modernize critical systems, and drive measurable impact. Serving government, defense, and community markets, the company develops, finances, and implements purpose-built energy solutions – including distributed generation, advanced storage, grid modernization, and efficiency upgrades – that enhance operational readiness and generate long-term financial value. Backed by decades of proven performance, Velarium Energy combines technical, financial, and operational expertise to deliver resilient energy where and when it’s needed most. Learn more at www.velariumenergy.com.

The announcement of completion of a customer’s project contract is not necessarily indicative of the timing or amount of revenue from such contract, of Ameresco’s overall revenue for any particular period or of trends in Ameresco’s overall total project backlog. This project was included in Ameresco’s previously reported contracted backlog as of December 31, 2025.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260311031640/en/

Media Contact:
Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com

Source: Ameresco, Inc.