Ameresco completes $71M sale of RNG tax credits

FRAMINGHAM, Mass. - Ameresco, Inc. (NYSE: AMRC), a prominent clean energy solutions provider with a market capitalization of $725 million, has announced the successful sale of approximately $71 million in Investment Tax Credits (ITCs) tied to three of its landfill-gas-to-renewable natural gas (RNG) projects. The company’s stock has shown resilience with a strong 95% return over the past month, according to InvestingPro data. These projects, developed, constructed, financed, and operated by Ameresco, were put into service in 2024 and represent the company’s first sale of RNG tax credits under new transferability rules.

This sale is Ameresco’s third ITC transaction with a corporate buyer and showcases the company’s proficiency in utilizing clean energy incentives and financing to support its business model. While the company maintains a current ratio of 1.57, indicating adequate liquidity to meet short-term obligations, InvestingPro data reveals a significant total debt of $2.37 billion, highlighting the importance of successful project monetization. Mike Bakas, President of Renewable Fuels at Ameresco, expressed enthusiasm about the deal, highlighting it as a testament to the growing value and market confidence in RNG as an essential element of the clean energy transition. He also noted that this sale builds on Ameresco’s previous accomplishments in monetizing solar and battery storage tax credits.

STX Group, a global environmental commodity trader and climate solutions provider, acted as the exclusive facilitator for Ameresco in this transaction. The company, with a 25-year history in the low-carbon economy shift, has a significant presence in the United States, with offices in New York and Houston.

Ameresco remains dedicated to promoting sustainable energy solutions and plans to continue exploring opportunities to monetize its diverse portfolio of energy assets. The company, founded in 2000, is focused on assisting customers in reducing costs, enhancing resilience, and achieving decarbonization goals in the global energy transition. According to InvestingPro analysis, the company appears undervalued despite achieving a 30% revenue growth over the last twelve months. Investors seeking deeper insights can access comprehensive analysis and 15 additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks including Ameresco. Ameresco’s comprehensive services range from implementing smart energy efficiency solutions to developing, constructing, and operating distributed energy resources.

This recent transaction highlights Ameresco’s ongoing commitment to the clean energy sector and its ability to navigate the financial aspects of energy project development. The information reported is based on a press release statement from Ameresco, Inc.

In other recent news, Ameresco reported a robust first quarter of 2025, with an adjusted EBITDA of $40.6 million, surpassing Stifel’s forecast of $34.7 million. The company reaffirmed its full-year 2025 guidance, projecting an adjusted EBITDA between $225 million and $245 million, indicating a 4.3% year-over-year increase at the midpoint. In financial developments, Ameresco secured $78 million in Series A notes to fund a battery energy storage project, with plans for Series B notes for a solar plus battery storage project. Additionally, a $300 million uncommitted private shelf facility has been established for future solar and battery energy assets. Stifel analysts adjusted their outlook on Ameresco, reducing the price target from $18.00 to $17.00 while maintaining a Buy rating. Ameresco also announced the commercial operation of a 1.3 MW solar photovoltaic system at Reston Town Center in Virginia, expected to deliver approximately 1.5 million kilowatt-hours of renewable energy annually. In Ireland, Ameresco received approval for an upgrade to the Kilvinane Wind Farm, enhancing Ireland’s renewable energy infrastructure. These developments underscore Ameresco’s ongoing efforts in renewable energy projects and financial strategies to support its growth and sustainability initiatives.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.