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Released November 09, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Ameresco Incorporated (NYSE:AMRC) (Framingham, Massachusetts), which develops and integrates energy-efficiency and renewable-energy projects in the public and private sectors, reported more than $700 million in newly awarded contracts in the third quarter, hiking its project backlog to a record $3.7 billion. But executives acknowledge lengthening project cycles and supply-chain issues have bedeviled the company this year, and likely will not lighten up any time soon. Industrial Info is tracking more than $750 million worth of active and planned projects involving Ameresco's services, more than 40% of which is attributed to contracts with the U.S. Department of Defense.
Click on the image at right for a graph detailing active and planned projects involving Ameresco's services, by U.S. state.
"In our projects business, we are seeing longer cycles when converting our awarded projects into contracted backlog," said George Sakellaris, the chief executive officer of Ameresco, in a recent quarterly earnings-related conference call. "These contracts are being delayed as some customers are taking longer to proceed with the actual implementation of project work. It's important to note that we have not experienced any cancellations, just a lengthening of the sales cycle in moving awards to contracts. And like others in the industry, we also continue to face supply-chain delays on certain components as well as tightness in the labor market."
Despite these frustrating market conditions, Ameresco began engineering, procurement and construction (EPC) work earlier this summer on one of its largest developments: Pinnacle West Capital Corporation's (NYSE:PNW) (Phoenix, Arizona) Kupono Solar Project in Ewa Beach, Hawaii, on the southern side of O'ahu. Work on the 42-megawatt (MW) solar farm and battery energy-storage system (BESS) is set to wrap up in the second quarter of 2024, utilizing single-axis tracking photovoltaic (PV) panels and lithium-ion battery technology, respectively. Bright Canyon Energy, a subsidiary of Pinnacle West, is building the project near the Joint Base Pearl Harbor-Hickam West Loch Annex, which will consume most of the energy produced.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the Kupono solar plant and BESS unit.
Ameresco also is putting the finishing touches on a 19-MW combined heat and power plant (CHP) at the Norfolk Naval Shipyard in Portsmouth, Virginia, which will include a 3-MW BESS unit and a control system for the shipyard's microgrid. Ameresco will operate and maintain the CHP plant and microgrid, in compliance with Department of Defense and Navy cybersecurity requirements. Subscribers can learn more from a detailed project report.
As part of a climate change strategy announced last year, the U.S. Army vowed to build a microgrid at each of its 130 bases worldwide. Ameresco is providing services on two such projects set to wrap up in the coming months: an 8.75-MW microgrid addition at Fort Hunter Liggett in California, which includes a 3.75-MW solar array and a 5-MW BESS unit, and a 1.75-MW microgrid addition at White Sands Missile Range in New Mexico, which combines solar and natural gas generation, along with a BESS unit. Subscribers can read detailed reports on the Fort Hunter Liggett and White Sands projects.
Toward the end of 2024, Ameresco expects to finish construction on a 6-MW gas-fired power plant at the Fort Campbell Army Base in Kentucky. The project, which kicked off in August, will more than double the output currently provided by a solar plant. Subscribers can read more in a detailed project report.
Other microgrid projects from Ameresco include a 4.1-MW addition at the Cedar Hills Regional Medical Center in Washington, D.C., which would comprise a solar array, diesel generators and a BESS unit. The new hospital at the St. Elizabeths East Campus is scheduled to open in late 2024 and will be operated and maintained by Universal Health Services Incorporated (NYSE:UHS) (King of Prussia, Pennsylvania). Developers say it will be the first inpatient facility to open in D.C. in more than 20 years. Subscribers can learn more from a detailed project report.
Subscribers to Industrial Info's GMI Project Database 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 involving Ameresco.
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 planned projects involving Ameresco's services, by U.S. state."In our projects business, we are seeing longer cycles when converting our awarded projects into contracted backlog," said George Sakellaris, the chief executive officer of Ameresco, in a recent quarterly earnings-related conference call. "These contracts are being delayed as some customers are taking longer to proceed with the actual implementation of project work. It's important to note that we have not experienced any cancellations, just a lengthening of the sales cycle in moving awards to contracts. And like others in the industry, we also continue to face supply-chain delays on certain components as well as tightness in the labor market."
Despite these frustrating market conditions, Ameresco began engineering, procurement and construction (EPC) work earlier this summer on one of its largest developments: Pinnacle West Capital Corporation's (NYSE:PNW) (Phoenix, Arizona) Kupono Solar Project in Ewa Beach, Hawaii, on the southern side of O'ahu. Work on the 42-megawatt (MW) solar farm and battery energy-storage system (BESS) is set to wrap up in the second quarter of 2024, utilizing single-axis tracking photovoltaic (PV) panels and lithium-ion battery technology, respectively. Bright Canyon Energy, a subsidiary of Pinnacle West, is building the project near the Joint Base Pearl Harbor-Hickam West Loch Annex, which will consume most of the energy produced.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the Kupono solar plant and BESS unit.
Ameresco also is putting the finishing touches on a 19-MW combined heat and power plant (CHP) at the Norfolk Naval Shipyard in Portsmouth, Virginia, which will include a 3-MW BESS unit and a control system for the shipyard's microgrid. Ameresco will operate and maintain the CHP plant and microgrid, in compliance with Department of Defense and Navy cybersecurity requirements. Subscribers can learn more from a detailed project report.
As part of a climate change strategy announced last year, the U.S. Army vowed to build a microgrid at each of its 130 bases worldwide. Ameresco is providing services on two such projects set to wrap up in the coming months: an 8.75-MW microgrid addition at Fort Hunter Liggett in California, which includes a 3.75-MW solar array and a 5-MW BESS unit, and a 1.75-MW microgrid addition at White Sands Missile Range in New Mexico, which combines solar and natural gas generation, along with a BESS unit. Subscribers can read detailed reports on the Fort Hunter Liggett and White Sands projects.
Toward the end of 2024, Ameresco expects to finish construction on a 6-MW gas-fired power plant at the Fort Campbell Army Base in Kentucky. The project, which kicked off in August, will more than double the output currently provided by a solar plant. Subscribers can read more in a detailed project report.
Other microgrid projects from Ameresco include a 4.1-MW addition at the Cedar Hills Regional Medical Center in Washington, D.C., which would comprise a solar array, diesel generators and a BESS unit. The new hospital at the St. Elizabeths East Campus is scheduled to open in late 2024 and will be operated and maintained by Universal Health Services Incorporated (NYSE:UHS) (King of Prussia, Pennsylvania). Developers say it will be the first inpatient facility to open in D.C. in more than 20 years. Subscribers can learn more from a detailed project report.
Subscribers to Industrial Info's GMI Project Database 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 involving Ameresco.
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).
