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News

Ameresco, Inc. Acquires Applied Energy Group

FOR IMMEDIATE RELEASE


Media Relations Contact: CarolAnn Hibbard, 508.661.2264, news@ameresco.com
Investor Relations Contact: Suzanne Messere, 508.598.3044, ir@ameresco.com


Ameresco, Inc. Acquires Applied Energy Group


Ameresco Expands Energy Efficiency and Demand Side Management Services for Utilities


FRAMINGHAM, MA and ISLANDIA, NY - July 14, 2011 - Ameresco, Inc. (NYSE:
AMRC) a leading energy efficiency and renewable energy company, announced today that it has acquired Applied Energy Group (“AEG”), a privately held company providing energy efficiency and demand side management consulting services. AEG, headquartered in Islandia, NY, currently serves utilities and government agencies in the Northeast, Mid-Atlantic, Midwest and other regions. In addition to designing, managing and evaluating energy efficiency programs, AEG also provides business operations and regulatory support, renewable energy programs, energy management and information technology solutions.

“AEG is a premier consulting company with a solid record of proven business practices for utilities, and specializes in designing, managing and evaluating utility efficiency programs,” said George P. Sakellaris, president and chief executive officer of Ameresco. “AEG’s position at the forefront of this large and growing market strengthens Ameresco’s leadership position within energy efficiency while expanding our offering to utility customers. We look forward to having AEG as part of the Ameresco family.”

Electric utilities are the largest providers of energy efficiency programs in the United States. According to a survey by the Institute for Electric Efficiency (IEE), rate-payer
funded electric utility energy efficiency programs amounted to $5.4 billion in 2010. The IEE believes that these efficiency programs will likely reach or exceed $12 billion by 2020.

“We are excited to be joining Ameresco, a North American leader in energy efficiency and renewable energy,” stated Michael Marks, president of AEG. “We believe that our energy efficiency focus aligns well and AEG will be better positioned to build upon our expertise and customer driven solutions by cultivating new business and service offerings,” continued Marks.

With the acquisition, Ameresco will add AEG’s employees to its current workforce of more than 750 and the company will continue to be called Applied Energy Group.
Terms of the transaction were not disclosed. Ameresco will provide additional details regarding its financial outlook and this transaction as part of its upcoming second quarter earnings conference call on August 10, 2011.


About Ameresco, Inc.
Ameresco, Inc. was incorporated in Delaware in April 2000 and is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for facilities throughout North America. Ameresco’s solutions include upgrades to a facility’s energy infrastructure, and the development, construction, and operation of renewable energy plants. With corporate headquarters located in Framingham, MA, Ameresco has 56 offices in 29 states and five Canadian provinces. For more information, visit www.ameresco.com. 

Applied Energy Group
Headquartered in Islandia, NY, Applied Energy Group is a consulting and information technology company which assists utilities and government agencies in managing their energy efficiency and demand side management programs. For more information about Applied Energy Group, visit www.appliedenergygroup.com.

Safe Harbor Statement
Any statements in this press release about future expectations, plans and prospects for Ameresco, Inc., including statements about the expected benefits of the acquisition and estimated future results, as well as other statements containing the words “projects,” “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forwardlooking statements as a result of various important factors, including Ameresco may be unable to successfully operate the AEG business to achieve the expected financial results; Ameresco may be unable to retain and maintain relationships with key employees, customers and other strategic partners of AEG, as well other factors discussed and detailed from time to time in reports filed by Ameresco with the U.S. Securities and Exchange Commission on Forms 10-K and 10-Q. In addition, the forward-looking statements included in this press release represent Ameresco’s views as of the date of this press release. Ameresco anticipates that subsequent events and developments will cause its views to change. However, while Ameresco may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Ameresco’s views as of any date subsequent to the date of this press release. 

AEG SELECTED BY ALLEGHENY POWER TO PROVIDE DSM AND DR PORTFOLIO TRACKING

Allegheny Power has selected Applied Energy Group's VisionDSM Portfolio Tracking System for the central management of their Pennsylvania and Maryland efficiency and demand reduction programs. VisionDSM is being implemented as the single source for all regulatory and management reporting across all Allegheny Power operating companies.

AEG SELECTED BY FIRSTENERGY TO PROVIDE DSM PORTFOLIO TRACKING

FirstEnergy has selected Applied Energy Group's VisionDSM Portfolio Tracking System for the central management of thier Pennsylvania and Ohio efficiency and demand reduction programs. VisionDSM is being implemented as the single source for all regulatory and management reporting across all FirstEnergy operating companies.

EFFICIENCY LONG ISLAND

AEG has been selected to provide design, planning and implementation consulting services to National Grid in support of the Long Island Power Authority’s new Efficiency Long Island (ELI) energy efficiency initiative. Efficiency Long Island is a 10-year, $924 million energy efficiency program that will make a wide array of incentives, rebates and initiatives available to LIPA’s residential and commercial customers to assist them in reducing their energy usage and thereby lowering their bills. Efficiency Long Island succeeds and expands upon LIPA’s Clean Energy Initiative that expired in 2008.

AEG SELECTED PROGRAM ADMINISTRATOR BY DELAWARE SUSTAINABLE ENERGY UTILITY FOR STATE’S ENERGY EFFICIENCY, CONSERVATION AND RENEWABLE PROGRAMS.

AEG was selected in 2009 by the newly formed Delaware Sustainable Energy Utility (SEU) as Program Administrator for Delaware’s sustainable energy programs. As Program Administrator, AEG is responsible for designing, developing and bringing to market energy efficiency, conservation and renewable energy programs for Delaware’s residential, commercial, industrial and non-profit sectors. Established by the state of Delaware as a unique non-profit and sustainability model, the SEU’s initiatives encompass all fuels including transportation.

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