Ameresco Announces a $78 Million Facility to Finance Battery Storage Energy Asset

The Financial Arrangement with CounterpointeSRE and Barings also Includes an Expected Issuance of a Second Series of Notes, an Additional Uncommitted $300 Million Shelf Facility and a Tax Credit Purchase Agreement for Future Ameresco Energy Assets
FRAMINGHAM, Mass. & STAMFORD, Conn., May 19, 2025--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition, today announced that one of its subsidiaries executed a note purchase agreement and private shelf agreement to finance its ongoing and future energy infrastructure projects. This strategic financial arrangement underscores Ameresco's commitment to advancing energy solutions and enhancing energy resilience.
The first note purchase provides for the issuance of Series A notes of $78 million to finance a battery energy storage asset currently under construction. The Series A notes have a maturity date of 2045 and carry a fixed interest rate. The arrangement also contemplates the issuance (upon lender approval) of Series B notes for a separate solar plus battery energy storage asset and includes an additional 20-year term. The Ameresco subsidiary entered a $300 million uncommitted private Shelf Facility for future solar and battery energy assets.
As part of this transaction, Ameresco signed an agreement for the transfer of investment tax credits associated with the battery asset upon the asset achieving commercial operation. Ameresco expects to sign agreements for the transfer of tax credits for the solar plus storage asset associated with the Series B notes, as well as for future deals under the private shelf facility.
"This financial arrangement marks a significant milestone for Ameresco as we continue to lead the way in providing innovative energy solutions," said George Sakellaris, President & CEO of Ameresco. "We expect that the $300 million private shelf facility will allow us to execute multiple transactions, enhancing our ability to deliver energy projects that drive cost savings, resilience, and decarbonization. We are excited about the flexibility this agreement provides, as we expect that it will enable us to accelerate the deployment of resilient energy infrastructure."
"We are thrilled to partner with Ameresco, a leading energy solutions and infrastructure provider, to finance impactful renewable energy and storage initiatives," said Eric Alini, CEO of CounterpointeSRE. "This shelf agreement aligns perfectly with CounterpointeSRE's commitment to support resilient, sustainable infrastructure in a variety of asset classes that drive both environmental and economic benefits."
"Barings is delighted to work alongside Ameresco and our affiliate, CounterpointeSRE, on this innovative financing," said Stephen Coscia, Managing Director, Global Infrastructure Debt at Barings. "By combining Barings' debt expertise with CounterpointeSRE's origination and tax equity capabilities, we're able to provide Ameresco with a flexible, comprehensive capital solution. This collaboration underscores the unique advantages of our broad platform and our joint commitment to advancing the clean energy transition."
For more information about Ameresco, visit https://www.ameresco.com.
About Ameresco, Inc.Founded in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading energy solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering diversified generation solutions to Federal, state and local governments, utilities, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered 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.
About CounterpointeSRECounterpointeSRE focuses on direct debt investments in energy transition. We finance high-quality sustainable energy and climate-related infrastructure assets including grid-connected and behind-the-meter solar, battery energy storage systems ("BESS") and other energy efficiency asset classes throughout the United States. In addition, we arrange tax credit purchases and tax equity partnerships alongside our debt to solve clients' project requirements. CounterpointeSRE, a portfolio company of MassMutual, provides C-PACE and sustainable mortgage financing to accelerate the transition to low-carbon infrastructure assets in addition to energy transition investments.
About Barings LLCBarings is a $442+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.*As of March 31, 2025
Forward looking statementsAny statements in this release about future expectations, plans and prospects for Ameresco, Inc., including statements about expected future borrowings under the financing arrangement, the completion of assets in development and future growth of our energy assets and other statements containing the words "projects," "believes," "anticipates," "plans," "expects," "will" and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward looking statements as a result of various important factors, including: demand for our energy efficiency and renewable energy solutions; the timing of, and ability to, enter into contracts for awarded projects on the terms proposed or at all; the timing of work we do on projects where we recognize revenue on a percentage of completion basis; the ability to perform under signed contracts without delay and in accordance with their terms and the potential for liquidated and other damages we may be subject to; the fiscal health of the government and the risk of government shutdowns and reductions in the federal workforce; our ability to complete and operate our projects on a profitable basis and as committed to our customers; our cash flows from operations and our ability to arrange financing to fund our operations and projects; our customers' ability to finance their projects and credit risk from our customers; our ability to comply with covenants in our existing debt agreements; the impact of macroeconomic challenges, weather related events and climate change; our reliance on third parties for our construction and installation work; availability and cost of labor and equipment particularly given global supply chain challenges, tariffs and global trade conflicts; global supply chain challenges, component shortages and inflationary pressures; changes in federal, state and local government policies and programs related to energy efficiency and renewable energy; the ability of customers to cancel or defer contracts included in our backlog; the output and performance of our energy plants and energy projects; cybersecurity incidents and breaches; regulatory and other risks inherent to constructing and operating energy assets; the effects of our acquisitions and joint ventures; seasonality in construction and in demand for our products and services; a customer's decision to delay our work on, or other risks involved with, a particular project; the addition of new customers or the loss of existing customers; market price of our Class A Common stock prevailing from time to time; the nature of other investment opportunities presented to our Company from time to time; risks related to our international operation and international growth strategy; and other factors discussed in our most recent Annual Report on Form 10-K and our quarterly reports on Form 10-Q. The forward-looking statements included in this release represent our views as of the date of this release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250519020802/en/
Contacts
Media Contact: Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Yahoo

an hour ago

• Yahoo

Dominion Energy, Inc. (NYSE:D) is largely controlled by institutional shareholders who own 79% of the company

Significantly high institutional ownership implies Dominion Energy's stock price is sensitive to their trading actions 50% of the business is held by the top 16 shareholders Ownership research along with analyst forecasts data help provide a good understanding of opportunities in a stock We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. A look at the shareholders of Dominion Energy, Inc. (NYSE:D) can tell us which group is most powerful. The group holding the most number of shares in the company, around 79% to be precise, is institutions. In other words, the group stands to gain the most (or lose the most) from their investment into the company. Because institutional owners have a huge pool of resources and liquidity, their investing decisions tend to carry a great deal of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute. Let's delve deeper into each type of owner of Dominion Energy, beginning with the chart below. View our latest analysis for Dominion Energy Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. We can see that Dominion Energy does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Dominion Energy's earnings history below. Of course, the future is what really matters. Since institutional investors own more than half the issued stock, the board will likely have to pay attention to their preferences. We note that hedge funds don't have a meaningful investment in Dominion Energy. Looking at our data, we can see that the largest shareholder is The Vanguard Group, Inc. with 11% of shares outstanding. BlackRock, Inc. is the second largest shareholder owning 8.3% of common stock, and State Street Global Advisors, Inc. holds about 5.3% of the company stock. Looking at the shareholder registry, we can see that 50% of the ownership is controlled by the top 16 shareholders, meaning that no single shareholder has a majority interest in the ownership. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our data suggests that insiders own under 1% of Dominion Energy, Inc. in their own names. It is a very large company, so it would be surprising to see insiders own a large proportion of the company. Though their holding amounts to less than 1%, we can see that board members collectively own US$52m worth of shares (at current prices). It is always good to see at least some insider ownership, but it might be worth checking if those insiders have been selling. The general public, who are usually individual investors, hold a 21% stake in Dominion Energy. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. It's always worth thinking about the different groups who own shares in a company. But to understand Dominion Energy better, we need to consider many other factors. For instance, we've identified 2 warning signs for Dominion Energy that you should be aware of. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Business Wire

2 hours ago

• Business Wire

WhiteHawk Completes Tender Offer for Acquisition of PHX

PHILADELPHIA--(BUSINESS WIRE)--WhiteHawk Income Corporation (together with WhiteHawk Energy, LLC and their respective subsidiaries, 'WhiteHawk' or the 'Company') announced that a majority of the outstanding shares of common stock, par value $0.01666 per share (the 'Shares'), of PHX Minerals Inc. ('PHX') (NYSE: PHX) were validly tendered and the other conditions to the tender offer have been satisfied. WhiteHawk anticipates the acquisition of PHX will be consummated by WhiteHawk in accordance with, and subject to the terms of, the definitive agreement for the acquisition on Monday, June 23, 2025. Computershare Trust Company, N.A., the depositary for the tender offer, has indicated that as of 12:00 Midnight, Eastern time, at the end of June 20, 2025, approximately 28,806,761 total Shares, or 73.7% of the total Shares issued and outstanding, have been tendered into and not properly withdrawn from the tender offer. This figure does not include 50,315 Shares tendered pursuant to the guaranteed delivery procedures set forth in the Offer to Purchase. When the 50,315 Shares tendered pursuant to the guaranteed delivery procedures are included in the results, approximately 28,857,076 total Shares, or 73.8% of the total Shares issued and outstanding, will have been tendered into and not properly withdrawn from the tender offer. About WhiteHawk Energy, LLC WhiteHawk Energy, LLC is focused on acquiring mineral and royalty interests in top-tier natural gas resource plays, including the Marcellus Shale and Haynesville Shale. The management team at WhiteHawk Energy has successfully grown over $13 billion of minerals, midstream, and exploration and development companies over the last 20 years. WhiteHawk Energy currently manages approximately 1,350,000 gross unit acres within core operating areas of the Marcellus Shale and Haynesville Shale, with interests in more than 3,400 producing horizontal wells. Please go to for more information. About PHX Minerals Inc. PHX Minerals is a natural gas and oil mineral company with a strategy to proactively grow its mineral position in its core focus areas. PHX owns mineral acreage principally located in Oklahoma, Texas, Louisiana, North Dakota and Arkansas. Additional information on the Company can be found at Cautionary Statement Regarding Forward-Looking Statements This document contains certain forward-looking statements about WhiteHawk and PHX, including statements that involve risks and uncertainties concerning WhiteHawk's proposed acquisition of PHX, anticipated customer benefits and general business outlook. When used in this document, the words 'anticipates,' 'can,' 'will,' 'look forward to,' 'expected' and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of WhiteHawk or PHX, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, (i) the possibility that the transaction will not close or that the closing may be delayed, (ii) the anticipated synergies of the combined companies may not be achieved after closing, (iii) the combined operations may not be successfully integrated in a timely manner, if at all, (iv) general economic conditions in regions in which either company does business, and (v) the possibility that WhiteHawk or PHX may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of WhiteHawk or PHX. In addition, please refer to the documents that PHX files with the U.S. Securities and Exchange Commission (the 'SEC') on Forms 10-K, 10-Q and 8-K. These filings identify and address other important factors that could cause PHX's operational and other results to differ materially from those contained in the forward-looking statements set forth in this document. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither WhiteHawk nor PHX is under any duty to update any of the information in this document. Additional Information about the Acquisition and Where to Find It This document is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares of PHX, nor is it a substitute for the tender offer materials that WhiteHawk and its acquisition subsidiary will file and have filed with the SEC relating to the tender offer. The tender offer is being made pursuant to a tender offer statement on Schedule TO (including the Offer to Purchase, a related Letter of Transmittal and other offer materials) filed by WhiteHawk with the U.S. Securities and Exchange Commission ('SEC') on May 22, 2025, as amended from time to time. In addition, on May 22, 2025, PHX filed a Solicitation/Recommendation statement on Schedule 14D-9 with the SEC related to the tender offer. The tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other tender offer documents) and the Solicitation/Recommendation Statement contain important information. Holders of shares of PHX are urged to read these documents The Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, have been made available to all holders of shares of PHX at no expense to them. The tender offer materials and the Solicitation/Recommendation Statement are available for free at the SEC's web site at In addition to the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, PHX files annual, quarterly and special reports and other information with the SEC. You may read and copy any reports or other information filed by PHX at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. PHX's filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at

Business Insider

6 hours ago

• Business Insider

RTX, NOC, and LMT: 3 High Caliber Defense Stocks in a Dangerous Market

While we all hope for a peaceful resolution to the escalating tensions between Israel and Iran—far more important than market movements—the conflict serves as a stark reminder of the strategic value of defense stocks. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter I've written about the defense sector previously, and these picks have performed admirably since then. Let's take a look at three of the top aerospace and defense stocks, Lockheed Martin (LMT), RTX (RTX), and Northrop Grumman (NOC), to see where they stand today. Aerospace and defense companies often offer stable, long-term investment appeal. Their revenues are typically underpinned by multi-year contracts with governments and militaries, providing predictable cash flow. The industry also features high barriers to entry, given the critical nature of the work and the long-standing relationships required to secure contracts—governments are unlikely to entrust vital defense programs to unproven newcomers. Many of these companies are also mature, dividend-paying businesses, making them attractive holdings in uncertain geopolitical environments. RTX Corporation (NYSE:RTX) Formerly known as Raytheon, RTX is one of the largest and most recognizable players in the aerospace and defense sector, with a market capitalization approaching $200 billion. The company was formed through a 2020 merger between Raytheon and United Technologies' aerospace and defense businesses. Today, RTX operates through three major segments. Firstly, Collins Aerospace, a leading provider of advanced aerospace and defense systems, generated $28.3 billion in revenue in 2024. Second, Pratt & Whitney, a leader in aircraft engines and power systems, generated $28.1 billion in revenue in 2024. Lastly, Raytheon, focused on defense technologies including cybersecurity, contributed $26.7 billion last year. With nearly equal revenue distribution across its divisions, RTX is a well-balanced industrial powerhouse. While the U.S. government is its largest customer, RTX also serves global allies, including Poland and the UAE, among others, thereby reinforcing its geopolitical relevance. The stock has gained almost 40% in the past year and now trades at 25x 2025 earnings estimates, slightly above the S&P 500's forward P/E of 21.5, but not excessively priced given the company's scale and stability. RTX also appeals to income investors. It offers a 1.8% dividend yield, modestly higher than the S&P 500's 1.3%, but where it truly stands out is in dividend growth. With 32 consecutive years of dividend increases, RTX has earned its place among Dividend Aristocrats, showcasing a long-standing commitment to returning value to shareholders. Is RTX a Good Stock to Buy? Turning to Wall Street, RTX earns a consensus Moderate Buy rating based on 11 Buys, five Holds, and zero Sell ratings assigned in the past three months. The average analyst RTX stock price target of $138.93 implies 4.7% downside potential from current levels. Northrop Grumman (NYSE:NOC) Formed in 1994 through the acquisition of Grumman Aerospace by Northrop Corporation, Northrop Grumman (NOC) has grown into a $72 billion cornerstone of the aerospace and defense industry. The company produces a wide range of cutting-edge technologies, including advanced weapons, missile defense systems, and aircraft such as the B-21 Raider stealth bomber. It also maintains strong positions in space systems and mission solutions. In 2024, Northrop Grumman reported solid revenue across its diversified business units: Aeronautics ($12 billion), Space Systems ($11.7 billion), Mission Systems ($11.4 billion), and Defense Systems ($8.6 billion). This diverse revenue base highlights the company's broad capabilities and stable income streams. Like RTX, Northrop Grumman maintains a strong international footprint, serving clients in 25 countries, reinforcing its global relevance. The stock currently trades at 20x 2025 earnings estimates, making it cheaper than RTX and slightly below the S&P 500 average, positioning it as a solid, if not flashy, value play for investors. In terms of income, Northrop Grumman matches RTX with a 1.8% dividend yield. More importantly, it's a reliable dividend growth stock, having paid dividends for 35 consecutive years and increased its payout for 21 straight years, underscoring its consistency and shareholder focus. Is Northrop Grumman Stock a Good Buy? Turning to Wall Street, NOC earns a consensus Moderate Buy rating based on 10 Buys, five Holds, and zero Sell ratings assigned in the past three months. The average analyst NOC stock price target of $541.36 implies 9.4% upside potential from current levels. Lockheed Martin (NYSE:LMT) With a market cap of $112 billion, Lockheed Martin (LMT) stands as one of the most established and recognizable names in the aerospace and defense sector. The company is renowned for its iconic military aircraft, including the F-16 Falcon and the F-35 Lightning II, with its Aeronautics segment generating $28.6 billion in revenue in 2024. Lockheed Martin's operations are broad and well-diversified, including Missiles and Fire Control, which generated $12.6 billion in sales for 2024; Rotary and Mission Systems, featuring Sikorsky helicopters and maritime technologies, contributing $17.2 billion; and its Space segment, which brought in $12.4 billion for the year. Altogether, Lockheed Martin reported $71 billion in total revenue for 2024, showcasing the scale and balance of its business. Internationally, Lockheed maintains a robust global presence, working with over 50 countries, including Australia, Germany, Poland, Saudi Arabia, Singapore, and South Korea, which provides meaningful geographic diversification. From a valuation standpoint, Lockheed Martin appears attractive, trading at just 17x 2025 earnings estimates —cheaper than the broader market and the least expensive stock among its peers in this comparison. Income investors will also find Lockheed compelling. With a 2.75% dividend yield, it offers more than double the S&P 500's average and is the highest-yielding stock among prominent U.S. defense names. The company has paid dividends for 29 consecutive years and raised its payout for 22 straight years. With a payout ratio of less than 50%, Lockheed has ample room to continue growing its dividend in the years ahead. Is Lockheed Martin Stock a Buy or Sell? LMT earns a consensus Moderate Buy rating based on seven Buys, eight Holds, and zero Sell ratings assigned in the past three months. The average analyst LMT stock price target of $521.07 implies 11.2% upside potential from current levels. Why Lockheed Martin Stands Out Among Top Defense Stocks I'm bullish on all three of these aerospace and defense stocks, each of which offers a durable business model, long-standing government relationships, diversified revenue streams across multiple segments, reasonable valuations, above-average dividend yields, and impressive records of dividend growth. Among them, I find Lockheed Martin the most compelling, thanks to its lowest valuation and highest dividend yield of the group, alongside a strong track record of consistent dividend increases.