Ameresco Inc Stock Price, News & Analysis

Ameresco, Inc. (NYSE:AMRC) announced the mechanical completion of its McCarty Road landfill gas to renewable natural gas plant in Houston, Texas. With a capacity of over 1.1 million Dekatherms per year, the facility processes 4,500 scfm of raw landfill gas. Despite construction challenges during the pandemic and hurricane season, the project achieved completion in December 2020. This collaboration with Republic Services will reduce over 61,000 tons of CO₂ emissions annually, supporting sustainability goals. The plant is set to commence commercial operations in early 2021.

Ameresco (NYSE: AMRC) announces that its founder and CEO, George Sakellaris, has been honored as an Environment + Energy Leader E+E 100 Honoree and awarded the Silver Winner in Best in Biz's Executive of the Year category. These awards recognize leaders who demonstrate innovation and commitment to renewable energy solutions. This recognition comes as Sakellaris celebrates 20 years as CEO and the company's 20th anniversary. Ameresco is a provider of energy efficiency and renewable energy solutions across North America and Europe.

Ameresco, (NYSE: AMRC), has successfully completed a plant-wide energy efficiency project for The Mattabassett District in Cromwell, Connecticut. The energy services agreement includes energy conservation measures in 9 buildings, yielding over $1M in savings over the 12-year contract. The project, valued at $983,482, was executed in June 2019, following an award in June 2017. Ameresco's initiatives guarantee an estimated 581,909 kWh in energy savings. The collaboration aims to maintain and further reduce operating costs for the District, noted for its efficiency in wastewater treatment.

Ameresco, Inc. (NYSE: AMRC) has completed a 5.3 MW-dc solar energy system at San Joaquin County’s Foothill Landfill, marking its second renewable energy project with the County. This project, funded through a power purchase agreement, features 13,770 solar modules and will generate approximately 10,473,000 kWh of electricity in its first year, reducing CO₂ emissions by 7,405 tons. The County will receive a $500,000 upfront lease payment, enhancing financial sustainability and promoting local renewable energy development.

Ameresco, Inc. (NYSE: AMRC) has secured a $30 million construction loan facility from Fifth Third Bank to finance its solar projects. The non-recourse facility allows for loan proceeds to be drawn for ongoing solar projects until permanent financing or project sale upon commercial operation. CFO Doran Hole emphasized the flexibility and support this funding provides amidst market challenges. The partnership highlights the continued growth in the solar market and Fifth Third's commitment to renewable energy financing.

Ameresco (NYSE: AMRC) announced the completion of a citywide energy efficiency project for Virginia, Minnesota, financed by a $2.5 million Energy Savings Performance Contract. The project, initiated in January 2020 and completed in September 2020, aims to reduce the city's energy consumption by approximately 21%, equivalent to 819 metric tons of CO₂ per year. Improvements included upgrades to LED lighting, HVAC systems, and building automation across 12 city buildings. Mayor Larry Cuffe emphasized the project's dual benefits of sustainability and cost savings, enhancing municipal budgets for community investments.

Ameresco, a leader in energy efficiency and renewable energy, has announced participation in two upcoming investor conferences. On November 12, 2020, CFO Doran Hole will present at Baird’s 2020 Global Industrial Conference at 4:20 PM ET, followed by virtual investor meetings. On November 17, 2020, CEO George Sakellaris and CFO Doran Hole will engage in one-on-one meetings at the 11th Annual Craig-Hallum Alpha Select Conference. Ameresco is known for its sustainability services and has a significant presence in North America and Europe.

Ameresco, Inc. (NYSE:AMRC) reported strong Q3 2020 results, with revenues rising 33% to $282.5 million, driven by robust performance in its Federal Solutions Group. Net income surged 126% to $20 million, and adjusted EBITDA increased 54% to $36.8 million. The company raised its full-year revenue guidance to $960 million-$1 billion and non-GAAP EPS to $0.94-$1.00. With a total project backlog of $2.2 billion, Ameresco remains well-positioned amidst COVID-19 challenges, focusing on innovative energy solutions.