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Ameresco Inc (NYSE: AMRC) partnered with Wells County, Indiana, on a comprehensive jail facility renovation and modernization project. The financial terms of the contract were not disclosed. Ameresco's selection as project partner follows a competitive bidding process.
Ameresco will replace the jail's existing HVAC units, update its lighting with LED retrofits both inside and outside, redesign its parking lot, upgrade its controls system and remodel and build a new facility addition.
Ameresco noted that the implemented improvements would enhance occupant and correctional staff safety while saving the facility $560,000 annually.
The company expects to begin the project construction in October 2021 and complete it by October of 2022.
Price Action: AMRC shares are trading lower by 4.77% at $58.50 on the last check Monday.
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