Ameresco’s (NYSE: AMRC) federal business will help the U.S. Navy build energy conservation systems at a shipyard located in Portsmouth, Virginia, under a $173 million energy savings performance contract.
Ameresco Federal Solutions began work on a combined heat and power plant that will have a generation capacity of 19 megawatts, an industrial wastewater treatment system, a microgrid controller and a 3MW battery storage for the Norfolk Naval Shipyard, the company said Friday.
Under the 22-year ESPC, the energy services provider will start operating and maintaining the assets after the construction project concludes next year.
Nicole Bulgarino, executive vice president and general manager of Ameresco Federal Solutions, said the company will work to advance the shipyard’s mission while supporting the environment through the clean energy technology deployment project.
The company estimates that the project will help the shipyard reduce grid imports of electricity by 68 percent and save more than $411 million in energy costs through 2044.
NNSY’s energy-efficiency measures are designed to comply with cybersecurity standards set forth by the Navy and the Department of Defense, Ameresco noted.