Kilvinane Wind Farm upgrade approved in Ireland

CORK, Ireland – Ameresco, Inc. (NYSE: AMRC), an energy solutions provider with a market capitalization of $703 million and impressive revenue growth of 30% over the last twelve months, has received approval from An Bord Pleanála for an upgrade to the Kilvinane Wind Farm through its subsidiary Cork Sustainable Energy Limited (CSEL). The enhancement is set to bolster Ireland’s renewable energy infrastructure and contribute to the country’s sustainability efforts.

The Kilvinane Wind Farm, located near Dunmanway in County Cork, currently consists of three turbines and is capable of generating approximately 8,500 megawatt-hours (MWh) of energy annually. This energy production is supplied to the National Grid, supporting Ireland’s position as the world’s second-largest producer of wind energy in terms of the share of electricity generated from wind. According to InvestingPro data, Ameresco’s stock has shown strong momentum with a 15% gain in the past week, though it maintains a high beta of 2.2, indicating significant market sensitivity.

The approved upgrade is designed to align with the existing structure and its surroundings, providing clarity for wind farm operators and planning authorities regarding the planning implications of routine maintenance activities. This development will not only ensure the wind farm’s efficient operation but also aid in meeting Ireland’s ambitious renewable energy targets.

Mark Apsey MBE, Senior Vice President for the UK and Ireland at Ameresco, stated that the upgrade will provide cleaner energy to thousands of homes and businesses. The decision by An Bord Pleanála is seen as a positive step for wind farm operators in Ireland, signaling progress within the renewable energy sector.

Ameresco, founded in 2000 and headquartered in Framingham, MA, is committed to helping customers navigate the energy transition by reducing costs, enhancing resilience, and aiming for decarbonization. The company employs over 1,500 individuals across North America and Europe, providing a range of energy solutions from smart energy efficiency to distributed energy resources. InvestingPro analysis reveals that while the company operates with significant debt, it maintains healthy liquidity with a current ratio of 1.57. For deeper insights into Ameresco’s financial health and growth potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

The announcement of the Kilvinane Wind Farm upgrade is part of Ameresco’s ongoing development and operation of renewable energy assets, though it does not necessarily reflect the company’s revenue timing or trends. Trading at $13.36, the stock currently appears undervalued according to InvestingPro Fair Value metrics, potentially presenting an opportunity for investors interested in the renewable energy sector. The information is based on a press release statement and InvestingPro analysis.

In other recent news, Ameresco has reported its first-quarter 2025 earnings, showcasing a strong performance with revenue reaching $352.8 million, surpassing expectations. The company also posted an adjusted EBITDA of $40.6 million, exceeding Stifel’s forecast of $34.7 million. Ameresco’s management has reaffirmed its full-year 2025 guidance, projecting revenue of $1.9 billion and adjusted EBITDA of $235 million at the midpoint. This outlook is higher than Stifel’s own estimates, reflecting confidence in Ameresco’s strategic execution.

In analyst updates, Stifel maintained a Buy rating for Ameresco while slightly reducing the stock’s price target to $17 from $18. Piper Sandler also revised its price target for Ameresco, lowering it to $21 from $30 but maintaining an Overweight rating. Meanwhile, Jefferies increased its price target to $11 from $10, keeping a Hold rating. These adjustments reflect a cautious but optimistic view of Ameresco’s prospects.

The company has also addressed concerns about federal contracts, indicating that previously canceled and paused projects have been re-scoped and resumed. Federal contracts currently make up about 30% of Ameresco’s project backlog, but they are expected to account for less than 20% of project revenue by 2025. Ameresco has managed to mitigate tariff impacts, signaling that most equipment is already on-site, and future costs are expected to be passed on to customers.

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