Ameresco Announces an EPCM Contract for Large Distribution Battery Energy Storage Systems for a Total of 537.5 MW / 2.15 GWh
October 21 2021 - 7:47PM
Business Wire
Three Battery Energy Storage Systems at
distribution level substations will provide California residents
with electricity in time for next summer’s reliability
challenges.
Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator and
renewable energy asset developer, owner and operator, today
announced that it has entered into a contract with Southern
California Edison (SCE) to design and build three grid scale
battery energy storage systems (BESSs) at existing substation
parcels throughout SCE’s service territory in California. Due to
the impact of the extreme weather events in the state, this
aggressive plan will significantly increase reliability of the grid
with a targeted commercial operation date in August 2022.
The substation energy storage systems will be built to address
the emergency reliability risks identified in the Governor’s
Emergency Proclamation aimed at utilizing clean energy resources to
address electric power shortages due to extended drought, wildfire,
and heatwaves. The contracted systems will be located at three
distinct distribution-level substation parcels in SCE’s service
territory to efficiently provide for the electricity demands in the
San Joaquin Valley, Rancho Cucamonga and nearby communities and the
Long Beach area. The systems equate to 537.5 MW with a four-hour
duration, for a total of 2,150 MWh.
"SCE sees a growing role for battery storage as we transition to
delivering 100% clean renewable energy to customers,” said Kevin
Payne, President and CEO of SCE. “The battery storage systems we
have contracted for with Ameresco will make the grid more resilient
to the effects of extreme weather and will help us continue our
progress toward the clean energy future, which is essential to
combating climate change."
The three substation systems are a novel approach for
incorporating advanced energy storage at the distribution level to
solve overall system capacity and reliability needs. They will be
operated in a manner which maximizes reliability of the grid by
charging during periods of excess generation and discharging during
periods of need. The project will utilize a turnkey Engineering,
Procurement, Construction and Maintenance (EPCM) contracting
mechanism.
“Innovative cleantech projects of this magnitude have the
ability to provide transformative solutions to regions in need of
reliable and resilient energy,” said George Sakellaris, CEO,
Ameresco. “At Ameresco, we are so pleased to be a part of a project
that takes such a meaningful step in providing cleantech solutions
to combat the disruptive effects of extreme weather events across
the nation.”
“In recent years, California’s extensive wildfires have
highlighted the necessity and importance of improved energy
infrastructure. It has become clear that the time for action is
now,” said Britta MacIntosh, Senior Vice President, Ameresco
Western Region. “This project is proof that when we work together,
we can solve for real and reliable solutions to address the needs
of the State of California.”
Once completed, this project will directly contribute to the
State of California’s clean energy and carbon neutrality goals and
help Edison International, SCE’s parent company, meet its 2045
net-zero greenhouse gas emissions commitment.
The EPCM Agreement was entered into after September 30, 2021 and
therefore such entry has no effect on Ameresco’s financial results
for the fiscal quarter ended September 30, 2021. Ameresco is
evaluating the expected effect of the EPCM agreement on its
financial results for the fourth quarter ending December 31, 2021
and will provide an update when it releases its third quarter 2021
financial results after the market close on Monday, November 1,
2021 and on the accompanying earnings conference call.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading
cleantech integrator and renewable energy asset developer, owner
and operator. Our comprehensive portfolio includes energy
efficiency, infrastructure upgrades, asset sustainability and
renewable energy solutions delivered to clients throughout North
America and the United Kingdom. Ameresco’s sustainability services
in support of clients’ pursuit of Net Zero include upgrades to a
facility’s energy infrastructure and the development, construction,
and operation of distributed energy resources. Ameresco has
successfully completed energy saving, environmentally responsible
projects with Federal, state and local governments, healthcare and
educational institutions, housing authorities, and commercial and
industrial customers. With its corporate headquarters in
Framingham, MA, Ameresco has more than 1,000 employees providing
local expertise in the United States, Canada, and the United
Kingdom. For more information, visit www.ameresco.com.
Safe Harbor Statement
The statement in this press release regarding the expected
timing of completion constitutes a forward-looking statement within
the meaning of The Private Securities Litigation Reform Act of
1995. The actual timing and completion may differ materially from
that indicated herein as a result of various important factors,
including the timing of, and ability to, enter into subcontracts
and purchase orders; the ability to perform without unusual delay;
any customer decision to terminate or delay our work on, or other
risks involved with, the project; and availability and costs of
labor and equipment. Currently, one of the most significant
factors, however, is the potential adverse effect of the current
COVID-19 (and its variants) pandemic. The extent to which COVID-19
impacts us, suppliers, customers, employees and supply chains will
depend on future developments, which are highly uncertain and
cannot be predicted with confidence, including the scope, severity
and duration of the pandemic, the actions taken to contain the
pandemic or mitigate its impact, and the direct and indirect
economic effects of the pandemic and containment measures, among
others.
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version on businesswire.com: https://www.businesswire.com/news/home/20211021006120/en/
Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com
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