Ameresco Lands 25-Year Solar Deal for First All-Electric Hospital Campus

Ameresco Collaborates with UCI Health to Power the Nation’s First All-Electric, Zero-Emission Hospital Campus

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Very Positive)

Tags

11/14/2024 - 08:05 AM

Solar PV Arrays to Power All-Electric Medical Campus, Setting a Benchmark for Sustainability in the Healthcare Industry

FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced its collaboration with the University of California, Irvine and its health system, UCI Health, to install two solar photovoltaic (PV) arrays atop new parking structures at the innovative, all-electric, zero-emission medical campus with the acute care hospital set to open in 2025. This initiative represents a major step towards UCI Health’s goal of achieving carbon neutrality and procuring 100% clean energy, making the new UCI Health – Irvine Campus Medical Complex in addition to The Joe C. Wen & Family Center for Advanced Care one of the most sustainable healthcare facilities in the nation.

Rendering of the solar photovoltaic (PV) arrays atop new parking structures (Photo: Business Wire)

Ameresco is responsible for the turnkey design, engineering, arrangement of financing, and construction of the new PV systems. In addition, Ameresco will provide operation and maintenance services to ensure optimal system performance over the full 25-year power purchase agreement (PPA) term. The PV arrays, with a combined capacity of approximately 1.4 MW, are expected to generate over 2.3 million kWh of clean energy in the first year alone equivalent to the annual energy consumption of over 200 homes.

"By helping construct the first all-electric, zero-emission hospital campus in the U.S., we’re not only advancing the sustainability goals of UCI Health but enabling them to stay focused on their core mission to 'Discover, Teach, Heal,’" said Lou Maltezos, Executive Vice President of Ameresco. "We’re proud to collaborate with UCI Health on this groundbreaking initiative, providing long-term energy savings and operational stability that will set a new standard for the healthcare industry – what a win for all involved."

The UCI Health – Irvine medical campus opened in 2024, with outpatient care at the Joe C. Wen & Family Center for Advanced Care and the Chao Family Comprehensive Cancer Center and Ambulatory Care building. The final phase includes a 144-bed acute care hospital and is slated to open in 2025, providing state-of-the-art medical care to the surrounding community. Ameresco and UC Irvine Health’s collaboration on this exciting endeavor ensures that the new facility will serve as a model for future healthcare campuses nationwide.

For more information about Ameresco and its renewable energy solutions, visit www.ameresco.com.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes solutions that help customers reduce costs, decarbonize to net zero, and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters 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.

The announcement of Ameresco’s development of a renewable energy asset is not necessarily indicative of the timing or amount of revenue from such asset, of Ameresco’s overall revenue for any particular period or of trends in Ameresco’s overall total assets in development or operation. This project was included in Ameresco’s previously reported assets in development as of September 30, 2024.