Ameresco, Inc. announced the award of an 83‑megawatt solar photovoltaic project in Kozani, Greece, in partnership with Sunel Group. The project will install nearly 130,000 modules on a one‑axis tracking system, connect to the medium‑voltage grid, and extend the 400/33 kV high‑voltage substation. Ameresco SUNEL Energy SA received the engineering, procurement, and construction contract from Luxcara, the German asset manager that holds the majority stake in the project.
The announcement comes on the heels of Ameresco’s strong fourth‑quarter 2025 results, where revenue rose 9 % YoY to $581 million and GAAP earnings per share of $0.34 beat estimates by $0.02. Gross margin improved to 16.2 %, and the company guided 2026 revenue to $2.1 billion with adjusted EBITDA of $283 million, reflecting a backlog exceeding $10 billion. The Kozani project is a tangible example of the company’s strategy to convert its sizable backlog into high‑margin renewable assets in Europe.
Kozani, once a coal‑mining hub, is now a focal point of Greece’s transition to clean energy, where renewables accounted for 57 % of the national mix in 2023. By adding 83 MW of solar capacity, Ameresco strengthens grid reliability and supports the country’s goal of becoming a clean‑energy hub for southeastern Europe. The project follows Ameresco’s earlier Greek ventures, such as the 100‑MW Delfini solar park in 2023, underscoring the company’s growing footprint in the region.
"We entered 2026 with positive business momentum and a more favorable operating environment than we faced at this time last year," said CEO George Sakellaris. COO Pete Christakis added, "By leveraging advanced solar tracking technology in a region rich in sunlight, the Kozani project is set to play a significant role in fortifying Greece’s renewable energy infrastructure and supporting Europe’s broader green energy transition." Vice President Konstantinos Zygouras noted, "Projects like this reflect the growing maturity of the Greek renewable energy market, where scale, structure, and long‑term stability are becoming increasingly important." Investment Manager Lorenz Hahn of Luxcara remarked, "This project shows how well‑targeted solar investments can support economic development while strengthening Greece’s clean energy infrastructure."
The project’s completion will reinforce Ameresco’s position as a leading design‑build and operations provider in the renewable sector, aligning with its 2026 guidance and demonstrating its ability to secure large‑scale, high‑margin projects in emerging European markets.
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