Ameresco, Inc. - AMRC STOCK NEWS

Ameresco, Inc. (NYSE: AMRC) has completed a solar PV installation at Montecito Union School District’s Nature Lab, offsetting 97% of annual electricity usage. The project includes over 450 solar panels generating over 300,000 kWh per year. Funded by the Montecito Union School Foundation, it enhances educational resources while promoting sustainability. Construction began in September 2021 and received operational approval in October 2021. CEO Anthony Ranii emphasized the dual benefits of environmental stewardship and fiscal responsibility, showcasing Ameresco's commitment to integrating renewable energy into educational environments.

Ameresco, Inc. (NYSE: AMRC) has announced the successful operational launch of its innovative energy project at John Paul II Catholic Secondary School in Canada, making it the country's first retrofitted carbon neutral school. The project, which includes 2,700 solar panels, geothermal systems, and energy storage, aims to cut greenhouse gas emissions nearly to zero, removing about 277 tons of carbon annually. It also reduces electricity costs by 68% and received a $4.5 million investment from Natural Resources Canada.

Ameresco, a cleantech integrator, reported Q3 2021 revenues of $273.7 million and net income of $17.4 million with GAAP EPS of $0.33. Despite a 10% decline in project revenue due to supply chain issues and COVID-19 delays, the company experienced a 29% increase in Energy Asset revenue. The awarded backlog grew by 31% year-over-year, reaching $2.364 billion. Ameresco announced a historic contract for a 537.5 MW battery storage system, enhancing growth prospects. FY 2021 guidance is raised, with expected revenues of $1.19 billion to $1.24 billion.

Ameresco, Inc. (NYSE: AMRC) announced the completion of a solar PV installation at the Bank of America campus in Chandler, AZ, featuring nearly 10,000 solar modules. This project is set to offset approximately 60% of the campus' annual electricity demand, reducing nearly 5,000 metric tons of CO2 emissions annually. Construction began in November 2020 and concluded in August 2021. The initiative aligns with Bank of America's commitment to carbon neutrality and aims for net-zero emissions by 2050, providing sustainable energy solutions while enhancing employee amenities.

Ameresco, Inc. (NYSE: AMRC) has secured a contract with Southern California Edison to design and construct three grid-scale battery energy storage systems in California, addressing the increasing reliability challenges posed by extreme weather. The systems, amounting to 537.5 MW capacity with a total of 2,150 MWh, are expected to enhance grid resilience and contribute towards California's clean energy goals. The project is targeted for commercial operation by August 2022.

Ameresco Inc. (NYSE: AMRC) has partnered with Trent University to enhance energy efficiency through a new Battery Energy Storage System (BESS). This initiative aims to reduce Trent's carbon footprint and bolster the provincial energy grid. The BESS will store low-cost, low-carbon energy for use during peak demand, potentially saving over $1 million annually in Global Adjustment fees. The project also includes upgrading Trent's electrical infrastructure and installing photovoltaic systems for further sustainability.

Ameresco, Inc. (NYSE:AMRC) will announce its third quarter 2021 financial results on November 1, 2021, after market close. The earnings press release will be accessible in the Investor Relations section of the Company’s website. Following the release, a conference call will be held at 4:30 p.m. ET, with access details provided for participants. An archived webcast will also be available for one year post-call. Founded in 2000, Ameresco specializes in clean technology and renewable energy solutions across North America and the UK.