Ameresco Enters $43M Energy Savings Performance Contract With US Coast Guard - Ameresco (NYSE:AMRC)

Ameresco Inc AMRC has entered into a $43 million Energy Savings Performance Contract (ESPC) with the U.S. Coast Guard (USCG) at the west coast training facility, Training Center (TRACEN) Petaluma.
Ameresco noted that ESPC would intensify resilience against climate threats and reduce annual energy consumption.
USCG selected Ameresco in February 2021 to fast-track the development of a comprehensive ESPC to enhance the site's electric infrastructure and resiliency posture.
The microgrid will integrate existing distributed backup generators with a new 5 megawatt (MW) solar array and an 11.6MWh BESS to power the entire site in the event of a loss of utility.
The company expects the project's construction to begin in October 2021 and reach completion by Fall 2023.
Once completed, Training Center Petaluma will realize a cost savings of more than $1.2 million in the first year.
Price Action: AMRC shares closed higher by 2.84% at $59.05 on Tuesday.