The U.S. Department of Energy Selected Ameresco's Pu`uloa Microgrid Energy Asset for the Grid Resilience and Innovation Partnerships Program

Rhea-AI Summary

Ameresco's Pu`uloa Microgrid project, a 99 MW capacity renewable energy asset, has been selected for the U.S. Department of Energy's Grid Resilience and Innovation Partnerships (GRIP) Program. This project, developed in partnership with the U.S. Navy and Hawaiian Electric Company (HECO), aims to enhance energy resilience for Joint Base Pearl Harbor Hickam (JBPHH) and Oahu.

The microgrid will integrate smart grid technology and new electrical infrastructure to improve grid reliability. During normal conditions, it will supply clean power to the Oahu grid, while providing critical support to JBPHH during outages. The project will create approximately 40 local jobs, with 75% of construction jobs sourced locally. Ameresco will also fund various community initiatives, including workforce development scholarships and environmental cleanup efforts.

Positive

• Selection for the DOE's GRIP Program, potentially accelerating project deployment
• 99 MW firm capacity renewable dispatchable generation resource
• Improved grid reliability and resilience for Oahu and JBPHH
• Creation of approximately 40 local jobs
• Community benefits including scholarships and environmental initiatives

Negative

• None.

Insights

Energy Infrastructure Analyst

The selection of Ameresco's Pu`uloa Microgrid for the GRIP program is a significant development with far-reaching implications. This 99 MW microgrid project demonstrates a innovative approach to enhancing grid resilience and reliability, important for both military installations and civilian communities. The integration of smart grid technology with renewable resources addresses multiple challenges:

• Improved energy security for Joint Base Pearl Harbor Hickam
• Enhanced grid stability for Oahu
• Advancement of clean energy goals

The project's ability to provide black start capabilities and ancillary services like frequency response is particularly noteworthy, as these are critical for grid resilience. From an investor perspective, this DOE selection validates Ameresco's expertise in complex energy projects and positions the company favorably for future government contracts in the rapidly growing microgrid sector.

Economic Impact Analyst

The Pu`uloa Microgrid project presents significant economic benefits beyond its technical merits. Key points for investors to consider include:

• Job creation: Approximately 40 local jobs during construction, with 75% sourced locally
• Workforce development: Scholarships and initiatives for local schools
• Community engagement: Environmental cleanup and support for local needs

These aspects demonstrate Ameresco's commitment to social responsibility, which can enhance its reputation and potentially lead to more contract wins. The Project Labor Agreement with local unions and commitment to prevailing wages aligns with current government priorities, potentially giving Ameresco an edge in future bids. For investors, this project not only represents immediate revenue but also positions Ameresco as a leader in sustainable, community-oriented energy projects, which could drive long-term growth in an increasingly ESG-focused market.

99 MW Microgrid to Enhance Energy Resilience and Reliability for Joint Base Pearl Harbor Hickam and the Broader Oahu Community

FRAMINGHAM, Mass. & HONOLULU--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, in partnership with the U.S. Navy and Hawaiian Electric Company (HECO), is proud to announce that the Pu`uloa Microgrid, a cutting-edge project aimed at enhancing energy resilience for Joint Base Pearl Harbor Hickam (JBPHH) and the island of Oahu, has been selected to be a part of the Grid Resilience and Innovation Partnerships (GRIP) Program. GRIP was established by the Bipartisan Infrastructure Law and administered by the U.S. Department of Energy’s Grid Deployment Office (GDO).

The Pu`uloa Microgrid will integrate smart grid technology within a front-of-the-meter microgrid design, utilizing microgrid control systems and new electrical infrastructure to provide critical grid reliability improvements for Oahu. This project with a planned 99 MW firm capacity renewable dispatchable generation resource is being developed at JBPHH. The support from DOE’s GRIP Program will enable a hybrid microgrid to be deployed more quickly, demonstrating the ability of smart grid technology linked to firm clean energy to improve generation mix diversity and grid reliability, while creating good-paying jobs.

Anticipated Outcomes and Benefits

• Grid Support: During normal grid conditions, the Pu`uloa Microgrid will supply clean, reliable power to the Oahu grid from Pu`uloa Energy. In the event of grid outages, the microgrid will detect the loss of power, disconnect from the broader grid, and direct power from Pu`uloa Energy to support JBPHH’s national security needs. The system will also provide black start capabilities during a full island outage and improve power quality through ancillary services such as frequency response and voltage support.
• Smart Microgrid Technologies: The Pu`uloa Microgrid is designed to strengthen the grid and improve resilience by increasing or establishing interconnections between HECO substations at JBPHH with new 46 kV transmission backbone infrastructure. This will be integrated into the microgrid control system and utilize state-of-the-art smart grid technologies.
• Community Benefits: The project will pursue a Project Labor Agreement with local unions, pay prevailing wages, and use apprentice labor. During construction, at least 75% of jobs will be locally sourced, creating approximately 40 jobs. Ameresco will fund workforce development scholarships for James Campbell High School, an agriculture and workforce development initiative for Leilehua High School, support other local schools and needs of the community, and an environmental cleanup initiative for the Salt Lake Community bordering JBPHH

“As extreme weather events continue to stress electric systems across the country, the Biden-Harris Administration is using every tool in the toolbox to make sure America’s power grid can provide reliable, affordable power,” said Maria Robinson, Director, Grid Deployment Office, U.S. Department of Energy. “The Pu`uloa Microgrid will use an innovative, hybrid approach to microgrids and smart grid technologies to enhance grid resilience and diversify their energy mix, all while creating good paying jobs and providing affordable, clean energy to Hawaii customers.”

“We are thrilled to be chosen for The Department of Energy’s GRIP program,” said Nicole Bulgarino, Executive Vice President at Ameresco. “Partnering with the U.S. Navy and Hawaiian Electric Company on the groundbreaking Pu`uloa Microgrid project will not only enhance energy resilience and reliability for Joint Base Pearl Harbor Hickam but also provide significant benefits to the broader Oahu community. This project exemplifies our commitment to innovation, sustainability, and community engagement.”

Additional information about Pu`uloa Energy can be found at puuloaenergy.com

For more information about Ameresco and its renewable energy solutions, visit www.ameresco.com.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes solutions that help customers reduce costs, decarbonize to net zero, and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

The announcement of the development of a renewable energy asset by Ameresco is not necessarily indicative of the timing or amount of revenue from such asset, of the company’s overall revenue for any particular period or of trends in the company’s overall total assets in development or operation. This project was included in our previously reported assets in development as of June 30, 2024.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241018683144/en/

Media Contact:

Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com

Source: Ameresco, Inc.

FAQ

What is the capacity of Ameresco's Pu`uloa Microgrid project (AMRC)?

The Pu`uloa Microgrid project has a planned capacity of 99 MW firm renewable dispatchable generation resource.

How will the Pu`uloa Microgrid benefit Joint Base Pearl Harbor Hickam (JBPHH)?

The microgrid will enhance energy resilience and reliability for JBPHH by providing critical power support during grid outages and offering black start capabilities during full island outages.

What community benefits will Ameresco's Pu`uloa Microgrid project (AMRC) provide?

The project will create approximately 40 local jobs, fund workforce development scholarships, support local schools, and initiate an environmental cleanup for the Salt Lake Community bordering JBPHH.

How will Ameresco's Pu`uloa Microgrid (AMRC) support the Oahu grid during normal conditions?

During normal grid conditions, the Pu`uloa Microgrid will supply clean, reliable power to the Oahu grid from Pu`uloa Energy, improving generation mix diversity and grid reliability.