Ameresco announces EPCM contract for retail battery energy storage systems totaling 537.5 MW / 2.15 GWh

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Three battery-powered energy storage systems at distribution substations will provide electricity to California residents in time for next summer’s reliability challenges.

FRAMINGHAM, Mass., October 21, 2021– (BUSINESS WIRE) – Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator and developer, owner and operator of renewable energy assets, today announced that it has entered into a contract with Southern California Edison (SCE) to design and build three Grid-Scale Battery Energy Storage (BESS) systems on existing substation plots across SCE’s California service territory . Due to the impact of extreme weather events in the state, this aggressive plan will dramatically increase grid reliability with a targeted commercial operation date of August 2022.

The substation’s energy storage systems will be constructed to address the emergency reliability risks identified in the governor’s emergency proclamation to use clean energy resources to deal with electricity shortages due to prolonged drought, forest fires and heat waves. The contracted systems will be located in three separate distribution-level substation plots in SCE’s service territory in order to efficiently meet the electricity demands in the San Joaquin Valley, Rancho Cucamonga and neighboring communities and the Long Beach area. The systems are equivalent to 537.5 MW with a duration of four hours, for a total of 2,150 MWh.

“SCE sees an increasing role for battery storage as we move towards delivering 100% clean renewable energy to our customers,” said Kevin Payne, President and CEO of SCE. “The battery storage systems that we have contracted with Ameresco will make the grid more resilient to the effects of extreme weather conditions and help us continue our progress towards a clean energy future, which is essential to tackle climate change. . “

The three substation systems are a new approach to incorporate advanced energy storage at the distribution level to meet overall system capacity and reliability needs. They will be operated in a way that maximizes grid reliability by charging during times of excess generation and unloading during times of need. The project will use a turnkey engineering, procurement, construction and maintenance (EPCM) procurement mechanism.

“Innovative clean technology projects of this magnitude have the capacity to provide transformative solutions to regions in need of reliable and resilient energy,” said George Sakellaris, CEO of Ameresco. “At Ameresco, we are thrilled to be part of a project that takes such an important step in providing clean technology solutions to combat the disruptive effects of extreme weather events across the country.

“In recent years, the massive forest fires in California have highlighted the need and importance of improving energy infrastructure. It has become clear that now is the time to act, ”said Britta MacIntosh, Senior Vice President, Ameresco Western Region. “This project is proof that when we work together, we can find real, reliable solutions to meet the needs of the State of California.”

When 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 commitment to net zero greenhouse gas emissions by 2045.

The EPCM agreement was concluded after September 30, 2021 and, therefore, this entry has no effect on Ameresco’s financial results for the fiscal quarter ended September 30, 2021. Ameresco assesses 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 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 developer, owner and operator of renewable energy assets. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to customers across North America and the UK. Ameresco’s sustainability services in support of customers’ 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 and environmentally friendly projects with federal, state and local governments, health and educational institutions, housing authorities, and commercial and industrial customers. With its 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 Declaration

The statement in this press release regarding the expected completion schedule 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 those set forth in this document in due to various important factors. , including timing and ability to enter into subcontracts and purchase orders; the ability to perform without unusual delay; any decision by the client to terminate or delay our work on the project or other risks associated with the project; and the availability and costs of labor and equipment. One of the most important factors right now, however, is the potential negative effect of the current COVID-19 pandemic (and its variants). The extent of the impact of COVID-19 on us, our suppliers, customers, employees and supply chains will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the extent , the severity and duration of the pandemic, the measures taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and of the containment measures, among others.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20211021006120/en/

Contacts

Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com


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