Ameresco Inc Stock Price, News & Analysis

Ameresco (NYSE: AMRC) completed an energy conservation project in partnership with Carmarthenshire County Council, enhancing the council's energy infrastructure. This initiative aims to meet the council's target of zero-carbon emissions by 2030. Key improvements include LED lighting, insulation, and solar PV installations, projected to save over two million kWh annually, equating to approximately $388,000 in cost savings and a reduction of 675 tonnes of CO2 emissions. The first phase was completed in March 2021.

Ameresco, Inc. (NYSE:AMRC) announced it will release its Q2 2021 financial results after market close on August 2, 2021. A conference call will follow at 4:30 p.m. ET, where supplemental financial information will also be provided. Participants can access the call via phone or a live webcast on the Investor Relations section of Ameresco's website. Founded in 2000, Ameresco is a cleantech integrator and renewable energy developer specializing in energy efficiency and sustainability solutions across North America and the UK.

Ameresco, Inc. (NYSE: AMRC) and the City of Arvada, Colorado, have successfully completed a $4.5 million energy conservation project aimed at enhancing energy efficiency. The project, initiated in January 2020 and finished in March 2021, covers 15 facilities, including upgrades to HVAC systems and installation of photovoltaic systems at five sites. The anticipated benefits include a 21% reduction in total utility costs, 6% reduction in annual energy consumption, and 11% reduction in electrical demand. The collaboration underscores Ameresco's commitment to sustainable energy solutions.

Ameresco (NYSE: AMRC) has partnered with Cannon Air Force Base and the Defense Logistics Agency Energy for a $19 million Energy Savings Performance Contract (ESPC) project. This initiative includes a 1.9 MW solar generation capacity and various energy conservation upgrades. The project aims to enhance Cannon AFB's operational efficiency and achieve sustainability goals, leading to an estimated $1.1 million savings in the first year and $33 million over the project period. Construction is expected to start in Q3 2021 and conclude by Q1 2023.

Ameresco, Inc. (NYSE:AMRC), a prominent cleantech integrator, announces participation in major investor conferences.

Senior VP and CFO, Doran Hole, will present at:

• William Blair's 41st Annual Growth Stock Conference on June 3, 2021, at 10:40 AM ET.
• Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021, at 12:00 PM ET.
• ROTH Virtual London Conference on June 21, 2021.

Ameresco specializes in energy efficiency, infrastructure upgrades, and renewable energy solutions across North America and the UK.

Ameresco, Inc. (NYSE: AMRC) announced the groundbreaking of a $21.6 million electrical distribution microgrid at Fort Hunter Liggett, aimed at achieving Net Zero Energy. This project enhances energy security by allowing the base to operate independently in case of utility failures. Features include a 3.75MW photovoltaic system and a 5MWh battery storage. The project is part of the U.S. Army's initiative for critical mission resiliency and sustainability. Construction begins on May 27, 2021, marking significant progress towards energy goals.

Ameresco (NYSE: AMRC) has completed its first international wind project in Kefalonia, Greece. The 9.2MW wind turbine project was constructed under a €9.8 million contract with PPC Renewables, a subsidiary of Greece’s largest power generator. The project features four 2.3 MW wind turbines and will reduce carbon emissions by 22,000 tons annually, equating to savings from 4,753 cars not driven. Additionally, 3% of project revenues will benefit local communities. This initiative solidifies Ameresco's leadership in renewable energy in Europe.

Ameresco reported strong financial results for Q1 2021, with total revenue rising by 19% to $252.2 million. The Projects business led growth with a 25% increase, especially in the Federal sector. Operating income surged 92% to $18.3 million, and net income soared 80% to $11.2 million, resulting in a GAAP EPS of $0.22. The company completed its first public equity offering since 2010, raising over $120 million to fuel growth, particularly in renewable natural gas (RNG). Their total project backlog now stands at $2.3 billion.