May 13, 2020   SOURCE: BusinessWire

Ameresco Announces Commercial Operations of its First Wind Farm in County Kerry, Ireland

Ameresco, Inc., (NYSE: AMRC), a leading energy efficiency and renewable energy company, today announced that it has begun commercial operations at the Beale Hill Wind Farm in County Kerry, Ireland. This is the first wind power project owned and operated by Ameresco and the company's first renewable generation asset outside of the United States and Canada.

Ameresco acquired the Beale Hill Wind Farm from Irish electric company, First Electric and completed a number of upgrades including nacelle, generator and rotor arm replacements. The project has been developed exclusively by Ameresco and is not reliant on any form of subsidy from the Irish Government in the form of tariffs or consumer levies helping to provide citizens in the surrounding community with carbon-free energy. The electricity generated at Beale Hill will be sold directly into the local utility network under a power purchase agreement.

“This landmark project is both an extension of our company’s geographic footprint and strategic expansion of our renewable energy asset portfolio,” said Ameresco Executive Vice President and Director David J. Anderson. “Already, Ameresco’s North American based renewable energy assets stand at 255 MW and counting, and our Beale Hill project paves the way to develop additional wind power projects in the future. This project is an important milestone in supporting Ameresco’s long-term strategy to expand its portfolio of renewable generation and energy storage assets on an international scale.”

“It is very satisfying to get this project over the line,” said Derek Dixon, Chief Executive of Ameresco Limited. “The latter stages of construction, commissioning and energization were completed amid a plethora of obstacles, including more recently the COVID-19 pandemic. I am grateful to our in-house team for all that they did to successfully complete this landmark project and for the support and advice provided by our Irish legal advisors LK Shields and our subcontract partner Bettink.”

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. 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.

The announcement of achieving commercial operations for an energy asset is not necessarily indicative of the timing or amount of revenue from the energy asset, of the company’s overall revenue for any particular period or of trends in the company’s overall total assets in development or operation. This project was included in our previously reported assets in development as of March 31, 2020.