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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, Inc. (NYSE:AMRC) reported solid financial results for the first quarter of 2024, showing growth in all business lines, a 45% increase in contracted backlog, and over 750 MWe in owned energy assets under development. The company reaffirmed its 2024 guidance, with revenues of $298.4 million, a net loss of $2.9 million, GAAP EPS of ($0.06), and adjusted EBITDA of $30.8 million. CEO George Sakellaris highlighted significant growth opportunities, record levels of project backlog, and the strategic focus on better win rates and improved margins in core markets. Ameresco's robust results support expectations for substantial growth in 2024, with multi-year visibility on profitable revenue growth. The company also reaffirmed its full-year 2024 guidance, expecting revenue and adjusted EBITDA growth of 20% and 38% respectively.
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