BOSTON, Jan. 26, 2017 /PRNewswire-USNewswire/ -- Blue Cross Blue Shield of Massachusetts (Blue Cross) announced today that it has entered into a long-term agreement to purchase 2.6 megawatts (MW) of net metering credits from five community solar projects located in Hopedale and Mendon, MA. These projects, owned by Ameresco, Inc. (Ameresco) of Framingham, MA, a leading energy efficiency and renewable energy company, and co-developed with BlueWave Capital, LLC (BlueWave) of Boston, MA, will enable residents and businesses in the Blackstone Valley and throughout National Grid territory of Southeastern Massachusetts to lower their electricity costs and reduce carbon emissions. Overall, these projects will comprise a total of approximately 6.9 MW of renewable power.
Net metering credits are produced by generating renewable energy from solar and applying those credits to customer utility bills, reducing a customer's overall monthly electricity costs. The five projects will increase the amount of power generated by community solar projects in Massachusetts by an estimated 13%1 and reduce carbon emissions by approximately 6,300 metric tons, the equivalent of taking 1,328 cars off the road.
"Blue Cross has committed to a 30% reduction in absolute greenhouse gases (GHG) by 2020 and to support the growth of renewable energy in Massachusetts," said Kyle Cahill, Director of Sustainability and Environmental Health at Blue Cross. "This agreement and these projects will lead to cleaner air, reduce our electricity costs, support our local economy, and help to address climate change, one of the biggest public health issues we face today."
The Hopedale and Mendon projects represent a portfolio of community solar projects located in the Blackstone Valley region that are being built by and are owned by Ameresco, a leading independent provider of comprehensive energy efficiency and renewable energy solutions for facilities throughout North America and the United Kingdom.
"We are honored to support Blue Cross, a leader in providing high-quality, affordable health care, in their efforts to positively impact the environment while creating local jobs and reducing their long-term energy costs to the benefit of their members," said Michael T. Bakas, Senior Vice President, Ameresco Inc. "In addition, Ameresco is excited to work with BlueWave to develop these new renewable energy projects and provide community solar shares to residents and businesses in the region. These projects represent a great partnership between our three organizations."
As the anchor off-taker of these projects, Blue Cross is also supporting BlueWave's "Solar for the 100%" mission by giving nearly 200 local residents and small businesses the opportunity to reduce their electricity bills and choose local, clean energy in the National Grid territory of Southeastern Massachusetts. In addition to co-developing these projects, BlueWave is also partnering with Ameresco to provide community solar customer management services for these projects through their Community Solar Share program and Solar Management Platform (SMP).
"This partnership further demonstrates Blue Cross' commitment to its members and its goal of being a first-rate corporate citizen. It also reinforces BlueWave's ongoing partnership with Ameresco to develop and build locally generated, clean energy that creates jobs, meaningfully reduces GHG emissions, and generates electricity savings for our customers. Ameresco is a national leader in developing, constructing, and operating renewable energy projects, and Blue Cross is a leader in providing quality health care to millions of people across the Commonwealth of Massachusetts. We're proud to be working with each of them," said John DeVillars, Chairman of BlueWave.
In March of 2016, Blue Cross announced significant progress on its 2015 sustainability goals and the launch of the company's new 2020 sustainability goals. Learn more about Blue Cross' 2020 sustainability efforts here.
The announcement of a customer's entry into a project contract with Ameresco is not necessarily indicative of the timing or amount of revenue from such contract, of the company's overall revenue for any particular period, or of trends in the company's overall total construction backlog.
1. Estimated using data from GTM Research.
About Blue Cross Blue Shield of Massachusetts
Blue Cross Blue Shield of Massachusetts (www.bluecrossma.com) is a community-focused‚ tax-paying‚ not-for-profit health plan headquartered in Boston. We are the trusted health plan for more than 30,000 Massachusetts employers and are committed to working with others in a spirit of shared responsibility to make quality health care affordable. Consistent with our corporate promise to always put our 2.8 million members first‚ we are rated among the nation's best health plans for member satisfaction and quality.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco's sustainability services include upgrades to a facility's energy infrastructure and the development, construction, and operation of renewable energy plants. 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 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
BlueWave is a solar energy company founded on a mission to make solar available to everyone, everywhere. Driven to transform the energy status quo, BlueWave enables communities to take control of their energy production and consumers to choose local, low-cost power through our suite of consumer solar products, including the BlueWave Community Solar Share and the BlueWave Home Solar Loan. That's our vision for a cleaner planet. And it's our energy solution for the "100%". Visit us at bluewaverenewables.com and chat with us on Twitter: @bluewavesolar to learn more.
SOURCE Blue Cross Blue Shield of Massachusetts