Ameresco Inc Stock Price, News & Analysis

Ameresco, Inc. (NYSE:AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, has announced the release of its third quarter 2024 financial results on November 7, 2024, after market close. The company will host an earnings conference call at 4:30 p.m. EDT the same day.

Investors can access the earnings press release and supplemental financial information on the company's website. To participate in the conference call, dial-in numbers are provided for USA & Canada (Toll-Free: 1-888-596-4144) and International participants (1-646-968-2525), with Conference ID: 9604248. A live webcast will be available on Ameresco's website, and an archived version will be accessible for one year.

Ameresco, Inc. (NYSE: AMRC) has announced the successful completion of renovations to the historic John Gumm building in Columbia County. The project, aimed at preserving historic infrastructure while enhancing functionality, included interior finishes, HVAC and lighting upgrades, envelope efficiency improvements, and structural enhancements. The building now serves as a centralized hub for Columbia County, housing an auditorium, Small Business Development Center, Columbia-Pacific Economic Development District, Columbia County Museum, and office space for various county departments.

The renovations have improved access to public services, supported small business growth, and offered cultural enrichment opportunities. Future plans include the addition of rooftop solar panels and battery storage, reinforcing Columbia County's commitment to sustainability and climate resilience. This project is part of a larger, multi-phase effort by Columbia County to modernize its facilities.

Ameresco, Republic Services, and PG&E have inaugurated California's largest landfill gas to renewable natural gas (RNG) plant at the Keller Canyon Landfill in Pittsburg, CA. This first-of-its-kind 11.7Mwe energy asset in the U.S. is powered by a co-located LFG-to-Electric Plant and is designed to reduce 62,000 metric tons of carbon emissions annually.

The plant can process 4,500 standard cubic feet per minute of landfill gas and is expected to deliver approximately 1 billion cubic feet of RNG annually into PG&E's gas pipeline system. This project supports California's goal of achieving 60% renewable energy by 2030 and carbon neutrality by 2045, while also advancing Republic Services' commitment to beneficially reuse 50% more of their biogas by 2030.

The Keller Canyon plant created over 80 construction jobs and is expected to sustain more than 25 operational jobs. It began commercial operations in July 2024 and is now fully operational.

Ameresco and Mountain Regional Water have completed Utah's first floating solar project at the Signal Hill Water Treatment Plant. The 587.5 KW array, developed with D3Energy and supported by a $400,000 grant from Rocky Mountain Power's Blue Sky Award program, will generate 871,086 kilowatt-hours of clean energy annually. This innovative project will:

• Offset 92% of the plant's grid energy consumption
• Reduce energy costs by 80%
• Cut carbon dioxide emissions by 609 metric tons yearly

The project demonstrates the potential of utilizing water surfaces for renewable energy production without impacting land resources. It was completed ahead of schedule, with full utility permission to operate expected by October 23, 2024.

Ameresco's LED Streetlighting Project in Memphis has been honored by the U.S. Department of Energy's 2024 Integrated Lighting Campaign in the 'Sustainability in Lighting' category. The $47 million project converted over 77,000 streetlights to advanced LED fixtures, integrating networked lighting controls. Key benefits include:

- Annual energy savings of 37 million kWh
- Reduction in greenhouse gas emissions by 26,000 metric tons
- Estimated 55% reduction in energy costs
- Enhanced public safety and smart city capabilities

The project aligns with Memphis's sustainability goals and is expected to improve quality of life while generating significant financial savings for the city.

Ameresco Inc. (NYSE: AMRC) and the City of Pendleton, Oregon, celebrated the groundbreaking of a $1.8 million solar PV canopy project at the city's Wastewater Treatment and Resource Recovery Facility (WWTRRF). The 240 kW system is expected to generate 325,000 kWh of electricity annually, reducing the facility's reliance on non-renewable energy and bringing it closer to net-zero.

The project, funded by state grants, federal incentives, utility incentives, and city resources, will cut about 30% off the facility's power bill annually. It also enhances the wastewater treatment process by providing shade to the chlorine contact chamber, improving efficiency and water quality. The initiative aligns with Oregon's Community Renewable Energy Grant Program (CREP) goals, incorporating workforce training, supplier diversity, and student outreach focused on rural and underserved populations.

Ameresco Sunel Energy SA has announced the commercial operation of the 100 MWp Delfini solar project in Prosotsani, Drama, Greece. This landmark project, developed by Cero Generation, is the first Greek solar project to utilize a private power purchase agreement (PPA) without relying on government subsidies. It's also the first renewable project in Greece to benefit from the Next Generation EU Recovery and Resilience Facility.

The project, built on a mountainside, is designed to generate 157 GWh of electricity annually, powering 58,140 homes and avoiding 65,300 tonnes of CO2e emissions. It features a complex connection to the grid network, including a 2.5 km medium voltage line, a high voltage substation, and a 10 km network of overhead lines.

Ameresco (NYSE: AMRC) has reached an agreement with Southern California Edison (SCE) on the substantial completion of two out of three battery energy storage system projects. SCE will pay approximately $110 million within seven days for this milestone, which includes a set-off of disputed liquidated damages and additional work costs. Final acceptance payments will be made upon project completion. The third project is anticipated to achieve substantial completion in Q4 2024. This agreement marks a significant step in Ameresco's cleantech integration efforts, focusing on energy efficiency and renewable energy solutions.

Ameresco (NYSE: AMRC) has been selected by Wasatch Integrated Waste Management District (WIWMD) to develop a renewable natural gas (RNG) plant at the Davis Landfill in Layton, UT. This project marks Ameresco's second landfill gas beneficial use arrangement with WIWMD, demonstrating their ongoing commitment to sustainable waste management.

The Davis RNG facility will capture landfill gas and convert it into renewable energy, potentially reducing over 953 million pounds of CO2 emissions annually. This reduction is equivalent to removing 79,223 cars from the road or planting over 98,000 acres of forests. The plant is expected to replace the use of over 8 million BTUs of fossil fuels annually.

Ameresco will be responsible for all aspects of the project, including design, engineering, construction, commissioning, and operations. This initiative aligns with both organizations' goals of creating sustainable opportunities and viewing waste as a resource.