Ameresco Announces Groundbreaking Battery Energy Storage Asset Contract With United Power; Over 78MW Under A 20-Year Agreement To Be Added To Energy Assets In Development
Portfolio Pulse from Happy Mohamed
Ameresco, Inc. (NYSE:AMRC) has signed a contract with United Power for a 78.3 MW, 313.34 MWh battery energy storage system. This is the largest wholly owned asset contract in Ameresco's history. The system will be installed across multiple sites over a 20-year agreement. The batteries will help United Power balance its load and integrate renewable resources into their operations more efficiently. The assets are expected to be in service by 2024.
July 10, 2023 | 8:36 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Ameresco has signed a significant contract with United Power for a battery energy storage system. This is the largest contract in the company's history and will likely boost its revenues over the 20-year agreement period.
The contract is the largest in Ameresco's history, indicating a significant boost to the company's revenues over the 20-year agreement period. This is likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100