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RESTON, Va. - Ameresco, Inc. (NYSE: AMRC), a $718 million market cap clean technology integrator specializing in energy efficiency and renewable energy, has announced the commercial operation of a 1.3 MW solar photovoltaic (PV) system at Reston Town Center in Virginia. The company, which has shown strong revenue growth of 30% over the last twelve months, continues to expand its renewable energy portfolio despite challenging market conditions. According to InvestingPro analysis, AMRC currently appears undervalued, presenting a potential opportunity for investors interested in the renewable energy sector. Developed in partnership with BXP, Inc. (NYSE: BXP), this project is expected to deliver approximately 1.5 million kilowatt-hours of renewable energy annually to the facility.
Mounted on a downtown parking garage, the solar canopy project not only expands covered parking but also serves as a significant renewable energy generator for the area. Ameresco and BXP overcame various challenges to bring this behind-the-meter project to fruition, which was completed at the end of 2024.
Senior Vice President of Sustainability at BXP, Ben Myers, recognized Ameresco’s vital role in overcoming economic, technical, and logistical hurdles to successfully develop this on-site clean energy project. Jonathan Mancini, Senior Vice President – Solar Project Development East, PV Grid-Tie at Ameresco, expressed enthusiasm for the partnership’s ability to deliver reliable and affordable energy solutions to Reston Town Center and highlighted the project as an innovative approach to enhancing energy security and resiliency in urban settings.
The solar canopy’s operation signifies a key achievement in Ameresco’s commitment to providing sustainable and resilient energy solutions. The initiative is expected to offer economic benefits through competitive energy pricing and reduced reliance on the electric grid, thereby bolstering energy security. While the company maintains a solid current ratio of 1.57, InvestingPro data reveals that Ameresco operates with a significant debt burden of $2.37 billion, highlighting the capital-intensive nature of renewable energy infrastructure development. InvestingPro subscribers have access to 15 additional key insights about AMRC’s financial health and growth prospects.
Ameresco, founded in 2000 and headquartered in Framingham, MA, continues to focus on assisting customers in the global energy transition by reducing costs, enhancing resilience, and aiming for net-zero decarbonization. The company’s comprehensive services span smart energy efficiency solutions, infrastructure upgrades, and the development, construction, and operation of distributed energy resources.
The completion of the Reston Town Center solar project, included in Ameresco’s assets in operation as of March 31, 2025, is not necessarily indicative of immediate revenue, but it marks a continuation of the company’s efforts in diversifying generation solutions and promoting sustainable energy practices. With the stock currently trading at $13.65, significantly below its 52-week high of $39.68, investors seeking deeper insights can access comprehensive analysis through InvestingPro’s detailed research reports, which provide expert analysis on over 1,400 US stocks, including AMRC’s financial health, valuation metrics, and growth prospects. The information in this article is based on a press release statement and InvestingPro data.
In other recent news, Ameresco reported its first-quarter earnings for 2025, showcasing a strong performance with an adjusted EBITDA of $40.6 million, surpassing Stifel’s forecast of $34.7 million. The company also reported revenue of $352.8 million, exceeding expectations by 17%. Ameresco reaffirmed its full-year 2025 guidance, projecting revenue of $1,900 million and adjusted EBITDA between $225 million and $245 million. Stifel analysts adjusted their price target for Ameresco to $17.00 from $18.00 but maintained a Buy rating, reflecting confidence in the company’s growth trajectory despite recent challenges.
Additionally, Ameresco secured $78 million in Series A notes to finance a battery energy storage project, with further plans for a solar plus battery energy storage project, pending lender approval. The company also received approval for an upgrade to the Kilvinane Wind Farm in Ireland, aiming to enhance the country’s renewable energy infrastructure. This development aligns with Ameresco’s commitment to supporting the clean energy transition. These recent developments highlight Ameresco’s continued efforts in expanding its energy solutions portfolio and navigating the evolving market landscape.
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