Ameresco and Atura Power JV Selected to Build 250MW/1,000MWh Battery Energy Storage System
Portfolio Pulse from Benzinga Newsdesk
Ameresco (NYSE:AMRC) and Atura Power, a subsidiary of Ontario Power Generation, have been selected by the Independent Electricity System Operator (IESO) in Canada to build a 250MW/1,000MWh battery energy storage system (BESS) through their joint venture, Napanee BESS Inc. The JV will enter into a twenty-year capacity agreement with the IESO.
June 08, 2023 | 12:06 pm
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Ameresco's joint venture with Atura Power has been selected to build a 250MW/1,000MWh battery energy storage system in Canada, entering a twenty-year capacity agreement with the IESO.
Ameresco's selection for this project in partnership with Atura Power is a positive development for the company, as it will generate long-term revenue through the twenty-year capacity agreement with the IESO. This project also showcases Ameresco's expertise in energy efficiency and renewable energy, which could lead to more opportunities in the future. As a result, the stock price is likely to go up in the short term.
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