Ameresco, Inc. (NYSE:AMRC) agreed to acquire Bright Canyon Energy Corporation on August 4, 2023. Ameresco?s ownership will allow JFTB to continue operating as Southern California?s emergency response hub during a natural or man-made disaster.

Ameresco, Inc. (NYSE:AMRC) completed the acquisition of Bright Canyon Energy Corporation for $76.8 million on January 12, 2024. The purchase price for the assets was $76.8 million, of which $11.2 million was net of cash acquired, $5 million was paid in cash, $46.7 million was financed by the seller, and Ameresco assumed a construction loan on the energy asset project for $36.3 million. In September 2023, Ameresco paid $12.5 million in principal on the seller?s note. As of September 30, 2023, the balance of the seller?s note was $34.2 million, which is expected to be paid with $5.9 million in cash before the end of this fiscal year and the remaining $28.3 million will be paid in January 2024.