Ameresco completed the second and third rounds of long‑term debt financing under its private shelf facility, partnering with CounterpointeSRE and Barings. The transactions provide flexible, long‑duration capital that will support the company’s expanding portfolio of solar photovoltaic and battery energy storage system (BESS) projects across the United States.
The financing package is tied to three key projects: a 50 MW/200 MWh BESS, a 12 MW solar/10 MW BESS, and a 25 MW/100 MWh BESS. Ameresco transferred the investment tax credits (ITCs) associated with each project, monetizing incentives that would otherwise remain on the project owners’ books and generating additional cash flow for the development pipeline.
This move underscores Ameresco’s strategic shift from a traditional energy‑efficiency contractor to an infrastructure asset owner. By leveraging a private shelf facility and pairing debt with transferable tax credits, the company can scale its renewable asset development faster and more efficiently than competitors that rely solely on corporate balance sheets.
Ameresco’s balance sheet now reflects a total debt of $2.46 billion and a negative free cash flow of $399.2 million over the last twelve months. While the new debt increases leverage, it also provides the capital needed to accelerate project deployment and support the company’s long‑term growth objectives.
"These transactions are another important step in our strategy to deploy long‑duration, flexible capital solutions that support the rapid expansion of solar and advanced energy storage infrastructure across the country," said George Sakellaris, President and CEO. Eric Alini, CEO of CounterpointeSRE, added, "The platform demonstrates the value of a scalable financing model that supports the continued build‑out of energy storage and solar assets." Stephen Coscia, Managing Director of Global Infrastructure Debt at Barings, noted, "The platform brings consistency and efficiency to financing large‑scale storage and solar assets."
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