Ameresco Announces a $78 Million Facility to Finance Battery Storage Energy Asset
FRAMINGHAM, Mass. & STAMFORD, Conn.--(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 CounterpointeSRE
CounterpointeSRE 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 LLC
Barings 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 statements
Any 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.
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