Ameresco Inc Stock Price, News & Analysis

Ameresco's LED Streetlighting Project in Memphis has been honored by the U.S. Department of Energy's 2024 Integrated Lighting Campaign in the 'Sustainability in Lighting' category. The $47 million project converted over 77,000 streetlights to advanced LED fixtures, integrating networked lighting controls. Key benefits include:

- Annual energy savings of 37 million kWh
- Reduction in greenhouse gas emissions by 26,000 metric tons
- Estimated 55% reduction in energy costs
- Enhanced public safety and smart city capabilities

The project aligns with Memphis's sustainability goals and is expected to improve quality of life while generating significant financial savings for the city.

Ameresco Inc. (NYSE: AMRC) and the City of Pendleton, Oregon, celebrated the groundbreaking of a $1.8 million solar PV canopy project at the city's Wastewater Treatment and Resource Recovery Facility (WWTRRF). The 240 kW system is expected to generate 325,000 kWh of electricity annually, reducing the facility's reliance on non-renewable energy and bringing it closer to net-zero.

The project, funded by state grants, federal incentives, utility incentives, and city resources, will cut about 30% off the facility's power bill annually. It also enhances the wastewater treatment process by providing shade to the chlorine contact chamber, improving efficiency and water quality. The initiative aligns with Oregon's Community Renewable Energy Grant Program (CREP) goals, incorporating workforce training, supplier diversity, and student outreach focused on rural and underserved populations.

Ameresco Sunel Energy SA has announced the commercial operation of the 100 MWp Delfini solar project in Prosotsani, Drama, Greece. This landmark project, developed by Cero Generation, is the first Greek solar project to utilize a private power purchase agreement (PPA) without relying on government subsidies. It's also the first renewable project in Greece to benefit from the Next Generation EU Recovery and Resilience Facility.

The project, built on a mountainside, is designed to generate 157 GWh of electricity annually, powering 58,140 homes and avoiding 65,300 tonnes of CO2e emissions. It features a complex connection to the grid network, including a 2.5 km medium voltage line, a high voltage substation, and a 10 km network of overhead lines.

Ameresco (NYSE: AMRC) has reached an agreement with Southern California Edison (SCE) on the substantial completion of two out of three battery energy storage system projects. SCE will pay approximately $110 million within seven days for this milestone, which includes a set-off of disputed liquidated damages and additional work costs. Final acceptance payments will be made upon project completion. The third project is anticipated to achieve substantial completion in Q4 2024. This agreement marks a significant step in Ameresco's cleantech integration efforts, focusing on energy efficiency and renewable energy solutions.

Ameresco (NYSE: AMRC) has been selected by Wasatch Integrated Waste Management District (WIWMD) to develop a renewable natural gas (RNG) plant at the Davis Landfill in Layton, UT. This project marks Ameresco's second landfill gas beneficial use arrangement with WIWMD, demonstrating their ongoing commitment to sustainable waste management.

The Davis RNG facility will capture landfill gas and convert it into renewable energy, potentially reducing over 953 million pounds of CO2 emissions annually. This reduction is equivalent to removing 79,223 cars from the road or planting over 98,000 acres of forests. The plant is expected to replace the use of over 8 million BTUs of fossil fuels annually.

Ameresco will be responsible for all aspects of the project, including design, engineering, construction, commissioning, and operations. This initiative aligns with both organizations' goals of creating sustainable opportunities and viewing waste as a resource.

Ameresco (NYSE: AMRC) and the City of Somersworth have broken ground on New Hampshire's first landfill solar project on a Superfund site. The 2,577 kW-DC / 1,992 kW-AC solar PV installation is expected to generate over 67 million kWh in 20 years, avoiding 2,461 metric tons of CO2 annually. The project will repurpose City-owned land for renewable energy generation, with energy sold to Somersworth under the state's group net metering program. The city will receive lease payments and a Payment in Lieu of Taxes (PILOT). Construction is set to begin in mid to late August, following approvals from the U.S. EPA and NH DES.

Ameresco (NYSE:AMRC), a leading cleantech integrator focused on energy efficiency and renewable energy, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The event is scheduled for August 13, 2024, at the InterContinental Hotel in Boston, MA.

Key highlights:

• President and CEO George Sakellaris and SVP of Finance and Corporate Treasury Joshua Baribeau will present at 9am ET
• The management team will host investor meetings throughout the day
• Ameresco specializes in providing energy efficiency and renewable energy solutions

This conference participation demonstrates Ameresco's commitment to engaging with investors and showcasing its role in the cleantech industry.

Ameresco (NYSE:AMRC) reported strong Q2 2024 financial results, with total revenue increasing 33.9% to $438.0 million, led by a 44.5% growth in Projects revenue. The company achieved net income of $5.0 million and Adjusted EBITDA of $45.1 million, up 20.7% year-over-year. Ameresco's total Project Backlog reached a record $4.4 billion, up 36% from the previous year. The company placed a record 155 MWe of energy assets into operation during the quarter. However, results were impacted by $6.6 million in cost budget revisions on Southern California Edison projects. Ameresco adjusted its full-year 2024 guidance, increasing the revenue range and adjusting gross margin expectations to reflect the SCE project impact.

Ameresco (NYSE: AMRC) and United Power have completed construction of Colorado's largest distributed Battery Energy Storage System (BESS). The project includes eight advanced battery arrays providing 78.3 MW, 313.34 MWh of storage capacity across multiple sites in Adams, Broomfield, and Weld counties. This marks Ameresco's largest wholly owned BESS asset portfolio to date.

The system aims to enhance grid resilience, optimize renewable energy integration, and improve load balancing. Five sites are already operational, with the remaining three expected to be in service by summer's end. Ameresco has integrated Stem's AI-driven software for efficient operation and maintenance.

United Power's CEO, Mark A. Gabriel, emphasized the importance of these systems in creating a resilient and responsive power grid. The project represents a significant step towards a more sustainable and efficient energy future for Colorado's northern Front Range.