Reed College signs $5.4M energy efficiency contract with Ameresco

Reed College will work with Ameresco Quantum Inc. on building efficiency and water conservation efforts.

Reed College will work with Ameresco Quantum Inc. on building efficiency and water conservation efforts. 

Reed College signed a $5.4 million energy savings performance contract with Ameresco Quantum Inc. for an efficiency overhaul of the 100-year-old campus.

The work done by Ameresco Quantum, a subsidiary of Ameresco Inc. (NYSE: AMRC), is expected to save the college more than $2.7 million in energy costs over 10 years and reduce its annual carbon dioxide emissions by 2.65 million pounds.

Energy Trust of Oregon will provide up to $300,000 in incentives to help fund the improvements.

Ameresco already works with with Portland Public Schools on efficiency as well as 17 of Washington's 34 community and technical colleges through which the company got some $7 million in energy and operational savings grants from the Washington Department of Commerce.

At Reed, Ameresco will tackle 960,446 square feet of campus buildings. The company has a priority list of improvements to eight buildings plus campus-wide energy efficiency lighting and water conservations efforts.

"With some of the college buildings dating back to 1912, Reed wanted to investigate means to maximize our energy opportunities moving forward. The college looked for a partner that would take a unique and collaborative approach to matching the appropriate energy and water efficiency solutions to our diverse set of mechanical equipment and controls," said Townsend Angell, Reed College’s director of facilities operations, in a press release.

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