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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.
Ameresco, (NYSE: AMRC), has successfully completed a plant-wide energy efficiency project for The Mattabassett District in Cromwell, Connecticut. The energy services agreement includes energy conservation measures in 9 buildings, yielding over $1M in savings over the 12-year contract. The project, valued at $983,482, was executed in June 2019, following an award in June 2017. Ameresco's initiatives guarantee an estimated 581,909 kWh in energy savings. The collaboration aims to maintain and further reduce operating costs for the District, noted for its efficiency in wastewater treatment.
Ameresco, Inc. (NYSE: AMRC) has completed a 5.3 MW-dc solar energy system at San Joaquin County’s Foothill Landfill, marking its second renewable energy project with the County. This project, funded through a power purchase agreement, features 13,770 solar modules and will generate approximately 10,473,000 kWh of electricity in its first year, reducing CO2 emissions by 7,405 tons. The County will receive a $500,000 upfront lease payment, enhancing financial sustainability and promoting local renewable energy development.
Ameresco, Inc. (NYSE: AMRC) has secured a $30 million construction loan facility from Fifth Third Bank to finance its solar projects. The non-recourse facility allows for loan proceeds to be drawn for ongoing solar projects until permanent financing or project sale upon commercial operation. CFO Doran Hole emphasized the flexibility and support this funding provides amidst market challenges. The partnership highlights the continued growth in the solar market and Fifth Third's commitment to renewable energy financing.
Ameresco (NYSE: AMRC) announced the completion of a citywide energy efficiency project for Virginia, Minnesota, financed by a $2.5 million Energy Savings Performance Contract. The project, initiated in January 2020 and completed in September 2020, aims to reduce the city's energy consumption by approximately 21%, equivalent to 819 metric tons of CO2 per year. Improvements included upgrades to LED lighting, HVAC systems, and building automation across 12 city buildings. Mayor Larry Cuffe emphasized the project's dual benefits of sustainability and cost savings, enhancing municipal budgets for community investments.
Ameresco, a leader in energy efficiency and renewable energy, has announced participation in two upcoming investor conferences. On November 12, 2020, CFO Doran Hole will present at Baird’s 2020 Global Industrial Conference at 4:20 PM ET, followed by virtual investor meetings. On November 17, 2020, CEO George Sakellaris and CFO Doran Hole will engage in one-on-one meetings at the 11th Annual Craig-Hallum Alpha Select Conference. Ameresco is known for its sustainability services and has a significant presence in North America and Europe.
Ameresco, Inc. (NYSE:AMRC) reported strong Q3 2020 results, with revenues rising 33% to $282.5 million, driven by robust performance in its Federal Solutions Group. Net income surged 126% to $20 million, and adjusted EBITDA increased 54% to $36.8 million. The company raised its full-year revenue guidance to $960 million-$1 billion and non-GAAP EPS to $0.94-$1.00. With a total project backlog of $2.2 billion, Ameresco remains well-positioned amidst COVID-19 challenges, focusing on innovative energy solutions.
Ameresco, Inc. (NYSE:AMRC) announced a $4 million contract with the City of Medford to enhance energy efficiency by converting approximately 8,000 street and park lights to LED technology. This project, financed through a low-interest loan, is expected to save taxpayers on energy costs and reduce carbon emissions. The upgrades will utilize an Energy Savings Performance Contract (ESPC), allowing funding through energy savings over the contract term. Completion is anticipated in 2021, marking a significant step in Medford's energy efficiency initiatives.
Ameresco, Inc. (NYSE:AMRC) has partnered with Grants Pass School District 7 to implement an Energy Savings Performance Contract (ESPC) for upgrades at thirteen school locations. This move follows the district's unsuccessful attempts at securing voter-approved bonds. Utilizing low-interest financing, the upgrades will include improvements to lighting, HVAC, and building envelopes, funded through energy savings and utility incentives. Ameresco's Executive VP, Lou Maltezos, emphasized their commitment to enhancing infrastructure while ensuring student safety.
Ameresco, Inc. (NYSE:AMRC) announced it will release its third quarter 2020 financial results post-market on November 2, 2020. The earnings press release will be accessible in the Company's Investor Relations section. An earnings conference call will follow at 4:30 p.m. ET on the same day. Participants can join the call by dialing the provided numbers or through a live webcast on the Company's website. Founded in 2000, Ameresco is a leader in energy efficiency and renewable energy solutions across North America and Europe.
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