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Released August 19, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Executives at Ameresco Incorporated (NYSE:AMRC) (Framingham, Massachusetts), which develops and integrates energy-efficiency and renewable-energy projects in the public and private sectors, are increasingly upbeat about the company's prospects in the growing market for renewable natural gas (RNG), in which they expect to see demand grow in areas beyond the traditional end market for transportation. Industrial Info is tracking about $2.5 billion worth of active and proposed projects involving Ameresco's services, more than $1.5 billion of which is attributed to projects owned by Ameresco itself.
Click on the image at right for a graph detailing active and proposed projects involving Ameresco's services, by U.S. state.
In a recent quarterly earnings-related conference call Mike Bakas, the executive vice president of Ameresco's Renewable Natural Gas business, was enthusiastic about the company's potential in the burgeoning market for RNG: "For a number of years, RNG's primary market has been the transportation sector, leveraging the RFS [Renewable Fuel Standards] program. But as global markets have continued to focus on sustainability, primarily in the electric side of the carbon-footprint equation, we are seeing many industries turning their attention to the thermal side. This is a market with huge potential with natural gas utility consumption, over 440 times the volumes used in the transportation sector."
Ameresco owns several RNG projects under development, including the $20 million Lee County RNG Plant in Dixon, Illinois, next to Republic Services Incorporated's (NYSE:RSG) (Phoenix, Arizona) Lee County Landfill. The plant will process methane from the landfill into RNG. Site preparation started in January, with completion currently expected in the spring of 2025.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Alternative Fuels Project and Plant databases can learn more from a detailed project report and plant profile.
Ameresco also is seeking permits to develop the Puuloa Energy Center in Honolulu, Hawaii, which is designed to generate 99 megawatts (MW) from clean fuels such as biodiesel and biogas. Nearby, the company aims to build a solar plant with a 6-MW solar array and a 6-MW battery energy storage system (BESS). Subscribers can read detailed reports on the Puuloa Energy Center and solar plant.
"Pending successful negotiation of a power purchase agreement with Hawaiian Electric and approval by the Hawaii Public Utilities Commission, Puuloa Solar and Puuloa Energy, as planned, are expected to begin supplying electricity to customers by third-quarter 2026 and fourth-quarter 2027, respectively," the company said in a press release.
Later this year, Ameresco expects to begin construction on the $140 million EchoWater Resource Recovery Cogen Plant in Elk Grove, California, which will use biogas to generate power and heat for the Sacramento Area Sewer District's EchoWater Project, a wastewater treatment plant. Sacramento's EchoWater Project completed a decade-long expansion project last year, making it one of the largest U.S. facilities of its kind. Subscribers can learn more from a detailed project report.
In regard to Ameresco's contracted services, executives said the company's total project backlog grew 36% from the same period last year to a record $4.4 billion, including a 51% jump in its contracted backlog. "We are already experiencing rapid growth of our utility business, as seen by the meaningful increase in the number of significant announcements made in just the last few years," said Nicole Bulgarino, the executive vice president of Ameresco's Federal & Utility Solutions business, in the earnings call.
Among Ameresco's clients is Silicon Valley Power, a municipal electric utility developing the $60 million Kifer Receiving BESS Station in Santa Clara, California. Ameresco is performing engineering, procurement and construction (EPC) services for the 50-MW project, which will connect to the utility's existing Kenneth Substation. The City of Santa Clara owns Silicon Valley Power. Subscribers can learn more from a detailed project report.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned projects across the U.S. involving Ameresco's services.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing active and proposed projects involving Ameresco's services, by U.S. state.In a recent quarterly earnings-related conference call Mike Bakas, the executive vice president of Ameresco's Renewable Natural Gas business, was enthusiastic about the company's potential in the burgeoning market for RNG: "For a number of years, RNG's primary market has been the transportation sector, leveraging the RFS [Renewable Fuel Standards] program. But as global markets have continued to focus on sustainability, primarily in the electric side of the carbon-footprint equation, we are seeing many industries turning their attention to the thermal side. This is a market with huge potential with natural gas utility consumption, over 440 times the volumes used in the transportation sector."
Ameresco owns several RNG projects under development, including the $20 million Lee County RNG Plant in Dixon, Illinois, next to Republic Services Incorporated's (NYSE:RSG) (Phoenix, Arizona) Lee County Landfill. The plant will process methane from the landfill into RNG. Site preparation started in January, with completion currently expected in the spring of 2025.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Alternative Fuels Project and Plant databases can learn more from a detailed project report and plant profile.
Ameresco also is seeking permits to develop the Puuloa Energy Center in Honolulu, Hawaii, which is designed to generate 99 megawatts (MW) from clean fuels such as biodiesel and biogas. Nearby, the company aims to build a solar plant with a 6-MW solar array and a 6-MW battery energy storage system (BESS). Subscribers can read detailed reports on the Puuloa Energy Center and solar plant.
"Pending successful negotiation of a power purchase agreement with Hawaiian Electric and approval by the Hawaii Public Utilities Commission, Puuloa Solar and Puuloa Energy, as planned, are expected to begin supplying electricity to customers by third-quarter 2026 and fourth-quarter 2027, respectively," the company said in a press release.
Later this year, Ameresco expects to begin construction on the $140 million EchoWater Resource Recovery Cogen Plant in Elk Grove, California, which will use biogas to generate power and heat for the Sacramento Area Sewer District's EchoWater Project, a wastewater treatment plant. Sacramento's EchoWater Project completed a decade-long expansion project last year, making it one of the largest U.S. facilities of its kind. Subscribers can learn more from a detailed project report.
In regard to Ameresco's contracted services, executives said the company's total project backlog grew 36% from the same period last year to a record $4.4 billion, including a 51% jump in its contracted backlog. "We are already experiencing rapid growth of our utility business, as seen by the meaningful increase in the number of significant announcements made in just the last few years," said Nicole Bulgarino, the executive vice president of Ameresco's Federal & Utility Solutions business, in the earnings call.
Among Ameresco's clients is Silicon Valley Power, a municipal electric utility developing the $60 million Kifer Receiving BESS Station in Santa Clara, California. Ameresco is performing engineering, procurement and construction (EPC) services for the 50-MW project, which will connect to the utility's existing Kenneth Substation. The City of Santa Clara owns Silicon Valley Power. Subscribers can learn more from a detailed project report.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned projects across the U.S. involving Ameresco's services.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
