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Ameresco, Inc. (NYSE: AMRC) is a pioneering, comprehensive energy efficiency and renewable energy company. With headquarters in Framingham, Massachusetts, Ameresco operates across North America and Europe. Founded in 2000, Ameresco offers a wide array of solutions aimed at reducing costs, enhancing energy security, and shifting towards clean, renewable sources of power. The company is known for its energy audits, innovative engineering, and large-scale solar farms. Its projects span governmental, educational, utility, healthcare, and other institutional, commercial, and industrial entities.
Ameresco's core operations involve developing and managing energy efficiency solutions, utility-scale solar farms, and deep energy retrofits. The company's extensive portfolio includes solar energy products and systems such as PV panels, solar regulators, inverters, and solar-powered lighting systems. These projects not only help in reducing emissions but also contribute to significant cost savings and energy resiliency.
Recent achievements highlight Ameresco's commitment to sustainability. The company was awarded a $47 million cleantech project in partnership with Memphis Light, Gas, and Water, recognized for its innovative, cost-effective, and sustainable design. Another notable project is the energy-efficient solar arrays installation, projected to generate 230 KW in collaboration with Wakefield Municipal Gas & Light Department.
Ameresco's financial performance remains robust with a reported revenue of $298.4 million for Q1 2024. The company maintains a strong project backlog exceeding $4 billion and operates over 750 MWe of energy assets. Ameresco continues to secure new projects such as the $33 million Energy Savings Performance Contract with the U.S. National Archives and Records Administration and the 300 MW battery energy storage project in the UK.
To learn more about the innovative projects and sustainable solutions offered by Ameresco, visit their website.
CRC Innovations and Ameresco (NYSE: AMRC) have secured an over $200 million Energy Saving Performance Contract (ESPC) to implement capital improvements at U.S. Army military housing across three locations: Fort Bragg, N.C.; Fort Meade, Md.; and Fort Sill, Okla.
The project will modernize 5,000 homes, impacting over 15,000 residents, and is projected to reduce annual electrical consumption by 40% and natural gas consumption by 50%. Key improvements include installing ground source heat pumps, new electricity panels, and meters. The initiative is expected to generate $12.4 million in annual utility and operational cost savings, which will finance the improvements.
The communities, owned and operated by Corvias, will benefit from enhanced comfort, improved heating and cooling systems, and increased resiliency during extreme weather conditions.
Ameresco (NYSE: AMRC) has secured approval for a streetlight technology pilot project in New Orleans, focusing on modernizing the city's lighting infrastructure. The project involves retrofitting 56 existing streetlight fixtures with LED equivalents and smart city technology near the Superdome.
The implementation includes the installation of Ubicquia's UbiCell® lighting management system with 47 UbiCells® and 16 UbiHub® smart city devices, alongside TerraGo's Smart City operations software platform. The system will provide real-time vehicle and pedestrian analytics through camera monitoring systems to enhance public safety.
Ameresco brings significant experience in smart city technology, having implemented smart controls on over 62% of 600,000+ LED streetlights to date. The pilot aims to serve as a blueprint for broader implementation across New Orleans, supporting the city's goals of improved safety and accessibility during major events.
Ameresco (NYSE: AMRC) has been awarded a CAD $26.7 million solar energy project at the 5th Canadian Division Support Base in Oromocto, New Brunswick. The project includes an 8.9 MWdc/7.35 MWac ground-mounted solar system that will generate approximately 8,900 MWh of electricity annually, meeting 20% of the base's electricity needs.
The Gagetown Solar Project will feature 14,496 solar panels and is expected to prevent 7,695 metric tons of CO2 emissions annually while saving the base approximately CAD $1.3 million in yearly utility costs. Ameresco will provide full operations and maintenance services under a 25-year contract, with project completion expected by June 2025.
This initiative supports Canada's Federal Buildings Initiative and the government's commitment to procure 100% clean electricity for federal facilities by 2025.
Ameresco (NYSE: AMRC) announced the successful refinancing and expansion of its term loan and revolving credit facility through a sixth amended and restated senior secured credit agreement. The new agreement, involving a syndicate of lenders including Bank of America, Keybank, Rabobank, Webster Bank, and HSBC, provides up to $50M in additional liquidity.
The refinanced facilities include a $225 million revolving credit facility and a $100 million term loan, both maturing on December 28, 2028. The agreement maintains the same interest rate spreads as the previous one while offering increased financial flexibility. The funds will be used for general corporate purposes, including potential acquisitions, refinancing existing debt, and working capital requirements.
Ameresco (NYSE: AMRC), a leading cleantech integrator, has been awarded the Silver Company of the Year Award in the Large Company category at the 2024 Best in Biz Awards. The recognition comes from an independent awards program with judges from prestigious publications including Barron's, Wired, and the Los Angeles Times.
The award acknowledges Ameresco's achievements in advancing sustainability and innovation through energy projects that enhance resiliency and reliability. The company has demonstrated success through partnerships with various sectors, including government entities, educational institutions, healthcare providers, and commercial clients.
Notable projects highlighted in Ameresco's nomination include collaborations with Kūpono Solar, Mountain Regional Water Signal Hill Water Treatment Plant, and the Brickyard Landfill project. These initiatives showcase the company's capability to deliver customized, scalable energy solutions while strengthening energy infrastructure.
Ameresco (NYSE: AMRC) announced progress on two solar projects in North Ayrshire, Scotland, transforming former landfill sites into renewable energy sources. The Nethermains and Shewalton solar farms, developed with Detra Solar, will support North Ayrshire Council's goal of achieving net-zero carbon emissions by 2030.
The projects feature a combined DC capacity of 12.91 MW with 20,650 solar panels, generating approximately 13,177 MWh of clean energy annually—enough to power over 2,000 homes. The installation will reduce regional CO2 emissions by about 3,030 tonnes per year.
A notable challenge arose when badgers were discovered at the Nethermains site, requiring a redesign to protect their habitat. The projects will generate revenue for North Ayrshire Council through a Power Purchase Agreement (PPA) while supporting local employment. Both solar farms are scheduled to begin energy production in early 2024.
Ameresco (NYSE:AMRC), a leading cleantech integrator focused on energy efficiency and renewable energy, has scheduled its fourth quarter and full year 2024 financial results announcement for February 27, 2025, after market close.
The company will host an earnings conference call at 4:30 p.m. EDT the same day. Supplemental financial information will be provided via Form 8-K in the Investor Relations section of Ameresco's website. Participants can join the call using the following dial-in numbers: USA & Canada (Toll-Free): 1-888-596-4144, International: 1-646-968-2525, Conference ID: 4966851.
A live webcast will be available through the company's website, and an archived version will remain accessible for one year.
Ameresco (NYSE: AMRC) has secured a $183 million Energy Savings Performance Contract (ESPC) with the U.S. General Services Administration (GSA) to modernize the Denver Federal Center (DFC). The project aims to advance the facility's journey toward becoming a net-zero campus by 2045.
The comprehensive upgrade includes installation of 14.4 megawatts of ground-mount solar photovoltaic systems, 62.4 MMBtu/h of geothermal bores, and 20.1 MMBtu/h of electric heat pump capacity. These improvements will provide year-round heating and cooling across 13 buildings, replacing fossil fuel-fired equipment.
The project is expected to reduce grid-purchased energy use by 51% and fossil fuel consumption by 51.5%. It will achieve a 49% reduction in natural gas consumption and a 10% reduction in water usage. The modernized campus will serve as a pioneering model for sustainable technology adoption within the federal government, incorporating an Energy Sales Agreement that leverages tax credits for renewable energy.
Ameresco (NYSE: AMRC) has announced the successful divestiture of Applied Energy Group (AEG) to ICF at year-end. AEG, which employs over 100 utility management and demand-side energy experts, was sold to ICF, a global consulting and technology services provider.
The strategic move aligns with Ameresco's focus on streamlining operations and reinforcing its core business areas in energy efficiency, renewable energy, cost savings, resiliency, and decarbonization. According to CEO George Sakellaris, this divestiture will enable Ameresco to concentrate on growth opportunities within its target markets while ensuring the AEG team can continue to develop under ICF's portfolio of services.
ICF (NASDAQ:ICFI) has acquired Applied Energy Group (AEG) from Ameresco (NYSE:AMRC), expanding its utility and state & local government capabilities. AEG, with over 100 experts, provides integrated technology and advisory solutions for energy management, bringing a trusted platform that centralizes demand-side management programs.
AEG is projected to generate $30 million in annual revenue in 2024 with margins comparable to ICF's commercial energy business. The company expects revenue growth at a mid-teens rate in 2025, and the acquisition is expected to be immediately accretive to ICF's Non-GAAP EPS.
The acquisition aligns with ICF's strategy to extend capabilities in energy markets advisory and technology-enabled services. The companies have previously partnered on numerous utility management projects, and the integration aims to address energy challenges while creating revenue synergies.
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