Mountain Regional Water’s floating solar array project is designed to power a water treatment facility in Park City, Utah with locally generated renewable energy.

-Mountain Regional Water Special Service District, a special service district of the state of Utah that serves drinking water to the Snyderville Basin area of Park City, Utah, has awarded Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, a contract to design and install a floating solar photovoltaic array site. This award precedes the district's selection for a grant for $400,000 from Rocky Mountain Power's Blue Sky program for the district's Signal Hill Water Treatment Plant. The array will be owned by the district and will be placed on the treatment plant's holding pond and provide electricity to power the water treatment plant.

Ameresco's project design involves the deployment of a 589.7-kilowatt, DC capacity floating solar array. The system will be integrated behind the meter with the Rocky Mountain Power utility, allowing it to serve electricity directly to the treatment plant. Once installed, the floating solar array system is designed to reduce carbon dioxide emissions by 384 metric tons annually, which is equivalent to saving 43,211 gallons of gasoline per year or preventing the burning of 430,160 pounds of coal.

Rocky Mountain Power's Blue Sky program awarded this project to the Mountain Regional Water Service District as one of a dozen community-based renewable energy projects awarded in 2023. Blue Sky is an opt-in program that gives Rocky Mountain Power customers the option to match all or part of their energy use with renewable energy, reducing their carbon footprints and driving demand for new renewable energy in the West. Since 2006, Blue Sky's 56,000 participants have helped fund over 200 new, community-based renewable energy projects in Utah, Idaho and Wyoming communities. The systems include solar, wind, geothermal and other forms of renewable energy.

"Installing a floating solar array system at Signal Hill Water Treatment Plant stands as a testament to our commitment to shaping a brighter, sustainable future through innovative energy solutions," said Bob Georgeoff, Executive Vice President, Ameresco. "Together with our partners on this project, we are thrilled to demonstrate how providing the right mix of solutions can help our customers meet their decarbonization and energy savings goals in an economically viable manner."

The completion of this project is designed to offset 92% of the energy consumed from the grid and reduce the district's energy costs by 80%. The new floating solar array system will also produce 887,712 kilowatt-hours of solar energy annually, significantly contributing to the local power supply.

"Traditional ground or rooftop solar wasn't an option for us at this facility, but this innovative floating solar installation makes use of an untapped resource," said Chris Braun, Mountain Regional Chief Technology Officer. "This is one more piece of the puzzle for us get to a ‘Net-Zero' energy goal as we strive to be responsible stewards for the community and the environment. "

"We are proud to partner with Mountain Regional Water and Ameresco to move forward with this project that will lower energy costs and our carbon emissions," said Andy Badger, Rocky Mountain Power Regional Business Manager. "Ameresco leads the way in finding new ways of combining environmental stewardship and cutting-edge technology and we look forward to the end results of this project."

Construction is anticipated to begin in June 2024 and be completed by September 2024.

To learn more about the solar solutions offered by Ameresco, visit https://www.ameresco.com/solution-solar-power/.

About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and Europe. Ameresco's sustainability services in support of clients' pursuit of Net-Zero include upgrades to a facility's energy infrastructure and the development, construction and operation of distributed energy resources. 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, Massachusetts, Ameresco has more than 1,300 employees providing local expertise in the United States, Canada and Europe. For more information, visit www.ameresco.com.

About Mountain Regional Water Special Service District
Mountain Regional Special Service District is a governmental public water supply entity created and governed by the Summit County Council. The district provides drinking water services to the Snyderville Basin area of Park City, Utah. The district was formed in January of 2000 to unify, repair, and upgrade many of the failing water systems in western Summit County which were struggling with water availability and water quality issues. The district continues to be a leading example of energy efficiency in water delivery systems in the state of Utah and has received national awards for its efforts. For more information, visit www.mtregional.org.

About Rocky Mountain Power
Rocky Mountain Power provides safe and reliable electric service to more than a million customers in Utah, Wyoming and Idaho. The company works to meet customers' growing electricity needs while protecting and enhancing the environment. Rocky Mountain Power is part of PacifiCorp, one of the lowest-cost electricity providers in the United States. More information is available at rockymountainpower.net.

The announcement of a project award is not necessarily indicative of the timing or amount of revenue from such award, of the company's overall revenue for any particular period or of trends in the company's overall total assets in development or operation. This project was included in our previously reported assets in development as of June 30, 2023.