Ameresco, Inc. - AMRC STOCK NEWS

Ameresco has completed a 2.6 MW solar project in Danville, Illinois, built on a former General Motors site. This installation features over 6,600 solar modules and is expected to generate more than 3.6 million kWh of electricity annually, offsetting 1,500 metric tons of CO2 emissions, equivalent to powering 350 homes. The project aligns with Illinois' Future Energy Jobs Act, contributing to the state’s clean energy goals by utilizing brownfield sites.

HSGS-Ameresco has been awarded a contract for a microgrid installation at White Sands Missile Range, enhancing energy reliability for military operations. The microgrid will include a 700kW solar array, 500kW natural gas generator, and a 500kW battery storage system to ensure continuous power for potable water wells during outages. Construction starts in December 2022 and is expected to finish by late 2023. This project underscores the company’s commitment to national security and energy resilience, though it does not impact previously reported backlog figures.

Ameresco, Inc. (NYSE: AMRC) announces the launch of the Delfini Solar Project, a 100 MWp photovoltaic initiative in Greece, in collaboration with Cero Generation and Sunel Group. This project is notable for being among the first to utilize a private power purchase agreement without government subsidies. Construction has started, with completion expected by Q3 2023, aiming to deliver cost-effective, clean energy to Greece's grid, amid ongoing energy challenges.

Ameresco, Inc. (NYSE:AMRC), a leader in clean technology, announces participation in upcoming investor conferences. On August 10, 2022, CFO Doran Hole will present at the Canaccord Genuity 42nd Annual Growth Conference at 11:30 AM ET. Additionally, on August 17, 2022, he will partake in the Energy Efficiency Panel at the Piper Sandler Energy Transition Leaders Summit at 9:15 AM MT. With a focus on energy efficiency and renewable energy, Ameresco, founded in 2000, provides services to various sectors across North America and Europe.

Ameresco (NYSE: AMRC) applauds the Biden Administration for its Climate Smart Buildings Initiative, designed to enhance public-private partnerships aimed at reducing greenhouse gas emissions and cutting energy costs. The initiative is set to create nearly 80,000 jobs and achieve up to 2.8 million metric tons of GHG reductions annually by 2030, leveraging $250 million from the Infrastructure Investment and Jobs Act. Ameresco plans to utilize its 22 years of experience in Energy Savings Performance Contracting to support these goals.

Ameresco, Inc. (AMRC) reported record Q2 2022 revenue of $577.4 million, up 111% year-over-year, driven by significant growth across all business lines. Net income surged 136% to $32.2 million, with GAAP EPS at $0.61 (up 135%) and Adjusted EBITDA increasing 75% to $60.3 million. The company announced a landmark 42 MW PV and battery storage asset in Hawaii, bolstering its energy portfolio. Ameresco reaffirms its 2022 guidance, anticipating year-over-year growth in revenue, Adjusted EBITDA, and Non-GAAP EPS of 52%, 34%, and 26%, respectively.

Ameresco, a leader in cleantech integration, has been recognized by Solar Power World as one of the 2022 Top Solar Contractors. The company achieved 59th overall among 411 solar firms, earning accolades as a top solar and storage installer, as well as a top commercial solar contractor across states including Massachusetts, New York, and California. CEO George Sakellaris emphasized the importance of solar solutions in the energy transition, and the company aims to enhance sustainability and resiliency in its projects.

Ameresco (NYSE:AMRC) has partnered with the City of Memphis and Memphis Light, Gas and Water to upgrade over 77,000 streetlights to LED technology, enhancing safety and reducing energy expenses. This initiative is projected to save over 37 million kWh annually and cut greenhouse gas emissions by 26,000 metric tons. The project will provide local employment opportunities throughout construction. Scheduled for completion by Fall 2023, the upgrade aims to improve lighting across Memphis neighborhoods, contributing to the city’s sustainability goals.

Ameresco (NYSE: AMRC) has completed a significant utility savings project with New Mexico Tech, projected to save the university over $540,000 annually. This 20-year partnership aims to enhance campus facility operations and sustainability through upgrades like 666.8 kW-DC solar systems, LED retrofits, and advanced control systems. Dr. Cleve McDaniel emphasized the project's alignment with the university's sustainability goals. This initiative not only improves energy efficiency but also supports long-term cash flow and reliability for the institution.