Ameresco Completes OUTRIGGER Kauai Beach Resort & Spa’s Energy Efficiency Renovation as Part of 15-yr EaaS Agreement

Cleantech company revolutionizes the energy infrastructure at the resort while enhancing the guest experience

Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the completion of the installation of new energy efficiency and maintenance advancements at OUTRIGGER Kauai Beach Resort & Spa as part of a 15-year Energy as a Service (EaaS) agreement. The partnership allowed the oceanfront resort to update and replace its energy-related equipment without up-front capital.

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OUTRIGGER Kauai Beach Resort & Spa (Photo: Business Wire)

The $15.5 million energy efficiency renovation was designed and constructed by Ameresco in several phases over the last two years. Key upgrades included replacing 350 guest room fan coil units with new smart thermostats, a new central chiller plant with added redundancy for air conditioning, new hot water return distribution for reduced hot water wait times, and new electrical transformers. It also included adding a new building automation system to monitor and control temperatures in guest rooms, kitchens and ballrooms complete with variable speed capabilities for utility savings during periods of partial occupancy. Additionally, the exterior lighting throughout the resort has been comprehensively modernized with energy-efficient LEDs. Continuous monitoring provides up-to-date information of the condition of all building components, for comprehensive asset management software. The new equipment will continue to be maintained and operated by Ameresco for the life of the EaaS agreement.

“By integrating cutting-edge technology at OUTRIGGER Kauai Beach Resort & Spa, this partnership exemplifies our dedication to staying at the forefront of the industry while also revitalizing our resort’s pledge to environmental stewardship,” said Mike Shaff, Senior Vice President Operations - Americas for OUTRIGGER Hospitality Group. “Over the past three years, the property’s commitment to 'Caring for our Place' has manifested in substantial reductions in electricity, propane, and water consumption. This partnership has evolved into a dynamic collaboration, and we look forward to the forthcoming 15 years with enthusiasm and optimism."

“The Energy as a Service agreement with OUTRIGGER Kauai Beach Resort & Spa exemplifies our dedication to finding individualized, cost-effective solutions for our partners to achieve their sustainability goals that will bring them long-term benefits,” said Nicole Bulgarino, Executive Vice President, Ameresco. “We are proud to have played a pivotal role in enhancing the energy efficiency of this remarkable oceanfront resort."

Construction and the installation of new efficiency upgrades at OUTRIGGER Kauai Beach Resort & Spa began in October 2021 and reached full completion in December 2023.

To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.

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 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, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,300 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

About OUTRIGGER Kauai Beach Resort & Spa

Nestled on the enchanting 'Garden Island' of Kauai, the plantation-style OUTRIGGER Kauai Beach Resort & Spa spans an expansive 25 acres of beachfront paradise just minutes from Lihue Airport. The property boasts 350 guestrooms, all with extraordinary ocean views for a relaxing seaside escape. The lush resort boasts four alluring pools, including a whimsical waterslide. Guests can enjoy three distinctive dining options, alongside nightly live music and a rich tapestry of complimentary cultural offerings. A versatile canvas for business meetings, weddings and other celebrations – the property has more than 13,000 sq. feet of outdoor event space and 11,500 sq. feet of indoor venues. For more information, visit www.OUTRIGGER.com or @KauaiBeachResort.

The announcement of Ameresco’s completion of an energy asset project is not necessarily indicative of the timing or amount of revenue from such arrangement, of the company’s overall revenue for any particular period or of trends in the company’s overall total assets in development. This project was included in our previously reported assets in development as of September 30, 2023.

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