Ameresco and City of Edmundston Unveil SOLSTICE Microgrid Project to Reduce City’s Carbon Footprint

Rhea-AI Summary

Ameresco (NYSE: AMRC) announced the SOLSTICE microgrid project in partnership with the City of Edmundston and Edmundston Energy. The project, valued at $8 million, will be the largest rooftop solar installation in the Atlantic region, featuring a 1 MW solar capacity combined with a 2 MWh battery energy storage system.

The installation will be located on the Jean-Daigle Centre and Sports Pavilion roofs, designed to offset approximately 360 metric tons of CO₂ annually. The system will provide backup power to essential community facilities and is scheduled to become operational in summer 2025. The project supports Edmundston's 2024-2028 Environmental Action Plan and creates local jobs while building renewable energy expertise within the community.

Positive

• Secured $8 million microgrid project, largest in Atlantic region
• Project includes 1 MW solar capacity and 2 MWh battery storage system
• Creates local economic opportunities through job creation
• Scheduled completion by summer 2025 with clear timeline

Negative

• None.

Insights

Energy Infrastructure Analyst

The $8 million SOLSTICE microgrid project represents a modest but strategic infrastructure investment for Ameresco. The 1 MW solar capacity paired with 2 MWh battery storage system is relatively small compared to utility-scale projects but significant for the Atlantic region. The project's value lies more in its demonstration potential and market positioning than immediate financial impact. The 360 metric tons of annual CO₂ reduction, while environmentally beneficial, is modest in scale.

This project aligns with Ameresco's core business model of developing and operating distributed energy resources through long-term contracts. The combination of solar generation and battery storage creates multiple revenue streams through energy sales, demand response and grid services. While this single project won't materially impact Ameresco's $1.28B market cap, it strengthens their presence in the Canadian market and showcases their capabilities in integrated microgrid solutions.

Market Research Analyst

This project, while innovative for the region, has direct financial impact on Ameresco's bottom line. However, it carries strategic significance as a proof-of-concept for similar municipal partnerships. The integration of solar, storage and microgrid capabilities demonstrates Ameresco's full-service offering in the growing distributed energy resources market. The project's focus on critical infrastructure resilience and community engagement could serve as a template for future municipal contracts.

The summer 2025 completion timeline suggests this project is already factored into Ameresco's forward guidance. The emphasis on local economic benefits and workforce development aligns with increasing ESG requirements in public procurement. While this specific project may not move the stock, it reinforces Ameresco's position in the municipal clean energy market, which represents a significant growth opportunity as cities pursue decarbonization goals.

Edmundston will soon host the largest rooftop solar panel project in the Atlantic region, reinforcing local energy independence and advancing sustainability

FRAMINGHAM, Mass. & EDMUNDSTON, New Brunswick--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, announced the launch of the SOLSTICE microgrid project, a transformative renewable energy initiative developed in collaboration with the City of Edmundston and in partnership with Edmundston Energy. This project will supply the city with reliable, sustainable energy, reduce its carbon footprint, and support local economic growth. As the largest rooftop solar installation in the Atlantic region, SOLSTICE features a 1 MW solar capacity combined with a 2 MWh battery energy storage system (BESS), specifically designed to enhance grid resilience and meet peak energy demands.

The Jean-Daigle Centre (Photo: Business Wire)

The SOLSTICE microgrid, aptly named to celebrate the abundance of solar energy, will be installed on the roofs of the Jean-Daigle Centre and the Sports Pavilion. With construction underway, the project supports Edmundston’s 2024-2028 Environmental Action Plan and strengthens its leadership in the Atlantic region’s sustainable energy efforts. Once operational, the microgrid is designed to offset approximately 360 metric tons of CO₂ annually and ensure backup power to essential community facilities like the Sports Pavilion, which serves as an emergency response center.

“This project involves and will greatly impact the community. Many local entrepreneurs have been hired to work on the project, which will be a learning incubator for students from the Cité-des-jeunes A.-M.-Sormany, UMCE and CCNB programs,” explained the Mayor of the City of Edmundston Eric Marquis. “We are very grateful to our provincial and federal partners for their contribution and their constant collaboration, which allows us to take this step in a very important project for the City of Edmundston.”

“The SOLSTICE project demonstrates how critical solar and battery energy storage solutions are for strengthening grid resilience and advancing clean energy,” said Bob McCullough, President of Ameresco Canada. “As cities worldwide work to transition to sustainable energy, projects like this showcase how innovative solutions can provide reliable, clean power to meet today’s demands and secure a sustainable future for communities everywhere.”

Valued at $8 million, SOLSTICE integrates seamlessly with the city’s energy management systems, reducing dependence on traditional power sources and providing capacity to manage peak demands. This project also brings local economic benefits by creating jobs and building renewable energy expertise within the community, fostering both environmental and economic sustainability.

“Work began earlier this year to ensure that the roofs of the Jean-Daigle Centre and the Sports Pavilion were reinforced for the installation of the panels. Work is also being carried out in the Jean-Daigle Centre parking lot to allow the installation of the battery energy storage system,” explained Kevin Kilfoil, Coordinator, Transmission and Distribution for Edmundston Energy.

Residents can follow SOLSTICE’s progress via updates on the Edmundston Energy section of the city’s website as the project advances toward its planned operational launch in summer 2025. Ameresco and the City of Edmundston look forward to SOLSTICE’s lasting impact, showcasing a future-proof energy model that will set a sustainable example for communities in the region.

For more information about Ameresco and its renewable energy solutions, visit www.ameresco.com.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes solutions that help customers reduce costs, decarbonize to net zero, and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of Ameresco’s overall revenue for any particular period or of trends in Ameresco’s overall total project backlog. This project was included in Ameresco’s previously reported contracted backlog as of September 30, 2024.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241217246268/en/

Media:

Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com

Source: Ameresco, Inc.

FAQ

What is the capacity of Ameresco's (AMRC) SOLSTICE microgrid project in Edmundston?

The SOLSTICE project features 1 MW solar capacity combined with a 2 MWh battery energy storage system (BESS).

How much CO2 will AMRC's SOLSTICE project reduce annually?

The microgrid is designed to offset approximately 360 metric tons of CO₂ annually.

What is the total value of Ameresco's SOLSTICE project in Edmundston?

The SOLSTICE project is valued at $8 million.

When will Ameresco's SOLSTICE microgrid project be operational?

The project is planned to be operational in summer 2025.

Where will AMRC install the SOLSTICE solar panels in Edmundston?

The solar panels will be installed on the roofs of the Jean-Daigle Centre and the Sports Pavilion.