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MarketScreener Homepage  >  Equities  >  Nyse  >  Ameresco, Inc.    AMRC

AMERESCO, INC.

(AMRC)
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Ameresco : Announces Completion of First Shared Clean Energy Facility in Connecticut

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09/16/2019 | 09:01am EST

Marks commitment to expanding community solar in the Northeast.

Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced that the first project under Connecticut’s “Shared Clean Energy Facility Pilot Program” has been energized. In conjunction with Clean Energy Collective (CEC), the 2MW community solar project is located on the grounds of the Bloomfield Board of Education. This initial community solar offering allows the option for residents, governments and businesses to choose community solar energy for the first time.

Construction on the array began in early February and was completed by Ameresco in August. The state’s inaugural project will generate clean, renewable energy and provide savings to residents, the school district and low- to moderate-income subscribers. The project will allow for a 60 percent off-take in energy demand for the school district, with the remaining capacity available for the residential community.

“This project will bring many benefits to the Bloomfield, CT community, and participants in the array will benefit from Ameresco’s asset ownership experience, as well as CEC’s ability to deliver customer service throughout the length of the program,” said Paul Spencer, Chief Executive Office of Clean Energy Collective. “Launching the first project in Connecticut also enforces our continued commitment to project development across the U.S. and particularly in the northeast,” he added.

Ameresco, the owner of the project will oversee the operations and maintenance of the site, while CEC will provide customer care services.

“Cities and towns across New England are welcoming solar projects in increasing numbers because of the major positive impact they can have in a community,” said Michael T. Bakas, Executive Vice President of Ameresco. “By tapping into its new source of renewable energy, the Bloomfield Board of Education, along with households and businesses in the surrounding area, will benefit from reduced energy costs and an overall lower carbon footprint.

About Clean Energy Collective
Clean Energy Co (CEC) is the nation’s leading developer of community solar solutions. CEC pioneered the model of delivering clean power-generation through medium-scale solar PV facilities accessible to all utility customers. Since establishing the country’s first community-owned solar array near El Jebel, Colorado in 2010, CEC has built or has under development more than 175 RooflessSolar™ projects with 33 utility partners across 16 states, serving thousands of customers, and representing more than 400 MW of community solar capacity. CEC is also the leading provider of community solar software and services to the utility, development and financial industries through its Community Solar Platform™. Visit www.cleanenergyco.com for more information, or join us on Facebook, Twitter, and LinkedIn.

About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

The announcement of Ameresco’s entry into a renewable energy asset arrangement is not necessarily indicative of the timing or amount of revenue from such arrangement, 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, 2019.


© Business Wire 2019
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Financials (USD)
Sales 2019 850 M
EBIT 2019 59,6 M
Net income 2019 40,0 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 19,0x
P/E ratio 2020 16,8x
Capi. / Sales2019 0,90x
Capi. / Sales2020 0,84x
Capitalization 761 M
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George Peter Sakellaris Chairman, President & Chief Executive Officer
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Hole Doran Chief Financial Officer & Senior Vice President
David John Corrsin Secretary, Director, EVP & General Counsel
Joseph W. Sutton Lead Independent Director
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