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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.
HSGS-Ameresco, LLC has secured a $7.9 million contract to design and construct a 1.5 MW solar PV system at the Tooele Army Depot in Utah. This initiative aims to reduce the depot's annual electrical costs. The project marks the first contract for the newly formed joint venture between Hannah Solar Government Services and Ameresco. Construction will commence in summer 2022 and is expected to conclude by fall 2023. Both companies have a history of delivering renewable energy solutions for federal agencies.
Ameresco, Inc. (NYSE:AMRC) will attend key investor conferences to discuss its clean technology initiatives. On May 11, 2022, Doran Hole, Executive Vice President and CFO, will participate in a fireside chat at Citi’s 2022 Global Energy, Utilities and Climate Technology Conference at 1:45 AM ET. A day later, on May 26, 2022, he will present at the B. Riley Securities 22nd Annual Investor Conference at 1:00 PM PT. Ameresco specializes in energy efficiency and renewable energy solutions across North America and Europe.
Ameresco, Inc. (NYSE: AMRC) has completed a comprehensive solar installation at Brophy College Preparatory in Phoenix, Arizona. The project includes 911.25 kW DC of solar power, offsetting approximately 48% of the school's annual electricity usage. This initiative aligns with Brophy's sustainability goals and supports educational programs for students. By utilizing a solar services agreement, Ameresco enhances Brophy's energy efficiency while making significant cost savings over time. The project reflects Ameresco's commitment to sustainability and advancing clean energy initiatives.
Ameresco, Inc. (NYSE: AMRC) has secured a contract from the U.S. Army to install a 6 MW battery energy storage system (BESS) at Fort Detrick, Maryland. This project will enhance the existing 18.6 MW solar facility and is expected to yield annual utility cost savings of
Ameresco (NYSE:AMRC) reported record Q1 2022 revenue of $474 million, an 88% increase compared to last year. Net income rose 56% to $17.4 million, with GAAP EPS at $0.32. The company secured over $400 million in new project awards, growing its total project backlog to $3.1 billion. Ameresco reaffirmed its FY 2022 guidance for revenues between $1.83 billion and $1.87 billion and gross margins of 15.5% to 16.5%. Notable projects include a significant contract with the City of Bristol and ongoing work on Southern California Edison BESS projects.
Ameresco, Inc. (NYSE: AMRC) announced the completion of a solar panel project for GSK Consumer Healthcare’s Oak Hill site, aimed at generating over 70% of the site’s annual electricity usage. The project consists of more than 17,000 solar modules and has an estimated capacity of 6.9 MW DC, reducing GSK's carbon footprint by 60%. This marks GSK's 12th solar investment and aligns with its objective to achieve 100% renewable electricity by 2025. The project construction was completed in April 2022, enhancing both companies' sustainability commitments.
Ameresco, Inc. (NYSE:AMRC) has announced it will release its first quarter 2022 financial results on May 2, 2022, after market close. The earnings press release will be accessible on its Investor Relations webpage. Following the release, the company will host a conference call at 4:30 p.m. ET, with access via phone and a live webcast on their website. Ameresco, founded in 2000, specializes in energy efficiency and renewable energy solutions across North America and Europe, employing over 1,000 professionals.
Ameresco (NYSE:AMRC) announced delays in battery deliveries for its energy storage projects due to COVID-19 lockdowns in China and new transportation safety policies. These delays may impact the timeline for completing projects with Southern California Edison by August 1, 2022. However, Ameresco believes these circumstances qualify as force majeure under their contract, allowing for extensions without penalties. They have secured essential equipment and are preparing construction sites. The company does not anticipate material impact on 2022 results and reaffirms its annual earnings guidance.
Ameresco (NYSE: AMRC) has partnered with Hickam Communities (LLESY) for a $102 million energy conservation project at Hickam Air Force Base in Hawaii. The initiative aims to modernize over 2,500 military housing units, targeting a 30% reduction in energy consumption over 25 years. This project is expected to yield $13 million in annual cost savings to cover improvement and operational costs. Construction is set for completion in early 2025, enhancing energy efficiency and comfort for military families while aligning with sustainability goals.
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