Latest news with #EricAlini
Yahoo
20-05-2025
- Business
- Yahoo
Ameresco enters $78m facility to fund battery storage energy asset
Ameresco, a provider of comprehensive energy solutions, has finalised a financial package to support its battery storage asset and future energy infrastructure projects. The company's subsidiary executed a note purchase agreement and private shelf agreement, highlighting Ameresco's commitment to enhancing energy resilience and advancing sustainable energy solutions. The initial note purchase agreement allows for the issuance of Series A notes of $78m, earmarked for financing a battery energy storage asset currently under construction. The financial arrangement with CounterpointeSRE and Barings also includes an expected issuance of a second series of notes The Series A notes, maturing in 2045, feature a fixed interest rate. The financial structure then anticipates the potential issuance of Series B notes, subject to lender approval, to fund an additional solar plus battery energy storage project, extending over an additional 20-year term. Ameresco president and CEO George Sakellaris stated: 'This financial arrangement marks a significant milestone for Ameresco as we continue to lead the way in providing innovative energy solutions. 'We expect that the $300m private shelf facility will allow us to execute multiple transactions, enhancing our ability to deliver energy projects that drive cost savings, resilience and decarbonisation. We are excited about the flexibility this agreement provides, as we expect that it will enable us to accelerate the deployment of resilient energy infrastructure.' In a move to bolster its project financing capabilities, the Ameresco subsidiary has entered a $300m uncommitted private shelf facility intended for the financing of forthcoming solar and battery energy assets. Ameresco has also arranged for the transfer of investment tax credits linked to the battery asset, which will be realised once the asset commences commercial operations. The company anticipates similar agreements for tax credit transfers related to the Series B notes and other future transactions under the private shelf facility. CounterpointeSRE CEO Eric Alini stated: 'This shelf agreement aligns perfectly with CounterpointeSRE's commitment to support resilient, sustainable infrastructure in a variety of asset classes that drive both environmental and economic benefits.' Ameresco's Irish subsidiary, Cork Sustainable Energy, recently secured approval from An Bord Pleanála for a significant upgrade to the Kilvinane Wind Farm in Ireland. "Ameresco enters $78m facility to fund battery storage energy asset" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
19-05-2025
- Business
- Yahoo
Ameresco Announces a $78 Million Facility to Finance Battery Storage Energy Asset
The Financial Arrangement with CounterpointeSRE and Barings also Includes an Expected Issuance of a Second Series of Notes, an Additional Uncommitted $300 Million Shelf Facility and a Tax Credit Purchase Agreement for Future Ameresco Energy Assets FRAMINGHAM, Mass. & STAMFORD, Conn., May 19, 2025--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition, today announced that one of its subsidiaries executed a note purchase agreement and private shelf agreement to finance its ongoing and future energy infrastructure projects. This strategic financial arrangement underscores Ameresco's commitment to advancing energy solutions and enhancing energy resilience. The first note purchase provides for the issuance of Series A notes of $78 million to finance a battery energy storage asset currently under construction. The Series A notes have a maturity date of 2045 and carry a fixed interest rate. The arrangement also contemplates the issuance (upon lender approval) of Series B notes for a separate solar plus battery energy storage asset and includes an additional 20-year term. The Ameresco subsidiary entered a $300 million uncommitted private Shelf Facility for future solar and battery energy assets. As part of this transaction, Ameresco signed an agreement for the transfer of investment tax credits associated with the battery asset upon the asset achieving commercial operation. Ameresco expects to sign agreements for the transfer of tax credits for the solar plus storage asset associated with the Series B notes, as well as for future deals under the private shelf facility. "This financial arrangement marks a significant milestone for Ameresco as we continue to lead the way in providing innovative energy solutions," said George Sakellaris, President & CEO of Ameresco. "We expect that the $300 million private shelf facility will allow us to execute multiple transactions, enhancing our ability to deliver energy projects that drive cost savings, resilience, and decarbonization. We are excited about the flexibility this agreement provides, as we expect that it will enable us to accelerate the deployment of resilient energy infrastructure." "We are thrilled to partner with Ameresco, a leading energy solutions and infrastructure provider, to finance impactful renewable energy and storage initiatives," said Eric Alini, CEO of CounterpointeSRE. "This shelf agreement aligns perfectly with CounterpointeSRE's commitment to support resilient, sustainable infrastructure in a variety of asset classes that drive both environmental and economic benefits." "Barings is delighted to work alongside Ameresco and our affiliate, CounterpointeSRE, on this innovative financing," said Stephen Coscia, Managing Director, Global Infrastructure Debt at Barings. "By combining Barings' debt expertise with CounterpointeSRE's origination and tax equity capabilities, we're able to provide Ameresco with a flexible, comprehensive capital solution. This collaboration underscores the unique advantages of our broad platform and our joint commitment to advancing the clean energy transition." For more information about Ameresco, visit About Ameresco, in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading energy solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering diversified generation solutions to Federal, state and local governments, utilities, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit About CounterpointeSRECounterpointeSRE focuses on direct debt investments in energy transition. We finance high-quality sustainable energy and climate-related infrastructure assets including grid-connected and behind-the-meter solar, battery energy storage systems ("BESS") and other energy efficiency asset classes throughout the United States. In addition, we arrange tax credit purchases and tax equity partnerships alongside our debt to solve clients' project requirements. CounterpointeSRE, a portfolio company of MassMutual, provides C-PACE and sustainable mortgage financing to accelerate the transition to low-carbon infrastructure assets in addition to energy transition investments. About Barings LLCBarings is a $442+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.*As of March 31, 2025 Forward looking statementsAny statements in this release about future expectations, plans and prospects for Ameresco, Inc., including statements about expected future borrowings under the financing arrangement, the completion of assets in development and future growth of our energy assets and other statements containing the words "projects," "believes," "anticipates," "plans," "expects," "will" and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward looking statements as a result of various important factors, including: demand for our energy efficiency and renewable energy solutions; the timing of, and ability to, enter into contracts for awarded projects on the terms proposed or at all; the timing of work we do on projects where we recognize revenue on a percentage of completion basis; the ability to perform under signed contracts without delay and in accordance with their terms and the potential for liquidated and other damages we may be subject to; the fiscal health of the government and the risk of government shutdowns and reductions in the federal workforce; our ability to complete and operate our projects on a profitable basis and as committed to our customers; our cash flows from operations and our ability to arrange financing to fund our operations and projects; our customers' ability to finance their projects and credit risk from our customers; our ability to comply with covenants in our existing debt agreements; the impact of macroeconomic challenges, weather related events and climate change; our reliance on third parties for our construction and installation work; availability and cost of labor and equipment particularly given global supply chain challenges, tariffs and global trade conflicts; global supply chain challenges, component shortages and inflationary pressures; changes in federal, state and local government policies and programs related to energy efficiency and renewable energy; the ability of customers to cancel or defer contracts included in our backlog; the output and performance of our energy plants and energy projects; cybersecurity incidents and breaches; regulatory and other risks inherent to constructing and operating energy assets; the effects of our acquisitions and joint ventures; seasonality in construction and in demand for our products and services; a customer's decision to delay our work on, or other risks involved with, a particular project; the addition of new customers or the loss of existing customers; market price of our Class A Common stock prevailing from time to time; the nature of other investment opportunities presented to our Company from time to time; risks related to our international operation and international growth strategy; and other factors discussed in our most recent Annual Report on Form 10-K and our quarterly reports on Form 10-Q. The forward-looking statements included in this release represent our views as of the date of this release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this release. View source version on Contacts Media Contact: Ameresco: Leila Dillon, 508-661-2264, news@
Business Wire
19-05-2025
- Business
- Business Wire
Ameresco Announces a $78 Million Facility to Finance Battery Storage Energy Asset
FRAMINGHAM, Mass. & STAMFORD, Conn.--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition, today announced that one of its subsidiaries executed a note purchase agreement and private shelf agreement to finance its ongoing and future energy infrastructure projects. This strategic financial arrangement underscores Ameresco's commitment to advancing energy solutions and enhancing energy resilience. The first note purchase provides for the issuance of Series A notes of $78 million to finance a battery energy storage asset currently under construction. The Series A notes have a maturity date of 2045 and carry a fixed interest rate. The arrangement also contemplates the issuance (upon lender approval) of Series B notes for a separate solar plus battery energy storage asset and includes an additional 20-year term. The Ameresco subsidiary entered a $300 million uncommitted private Shelf Facility for future solar and battery energy assets. As part of this transaction, Ameresco signed an agreement for the transfer of investment tax credits associated with the battery asset upon the asset achieving commercial operation. Ameresco expects to sign agreements for the transfer of tax credits for the solar plus storage asset associated with the Series B notes, as well as for future deals under the private shelf facility. 'This financial arrangement marks a significant milestone for Ameresco as we continue to lead the way in providing innovative energy solutions,' said George Sakellaris, President & CEO of Ameresco. 'We expect that the $300 million private shelf facility will allow us to execute multiple transactions, enhancing our ability to deliver energy projects that drive cost savings, resilience, and decarbonization. We are excited about the flexibility this agreement provides, as we expect that it will enable us to accelerate the deployment of resilient energy infrastructure.' 'We are thrilled to partner with Ameresco, a leading energy solutions and infrastructure provider, to finance impactful renewable energy and storage initiatives,' said Eric Alini, CEO of CounterpointeSRE. 'This shelf agreement aligns perfectly with CounterpointeSRE's commitment to support resilient, sustainable infrastructure in a variety of asset classes that drive both environmental and economic benefits.' 'Barings is delighted to work alongside Ameresco and our affiliate, CounterpointeSRE, on this innovative financing,' said Stephen Coscia, Managing Director, Global Infrastructure Debt at Barings. 'By combining Barings' debt expertise with CounterpointeSRE's origination and tax equity capabilities, we're able to provide Ameresco with a flexible, comprehensive capital solution. This collaboration underscores the unique advantages of our broad platform and our joint commitment to advancing the clean energy transition.' For more information about Ameresco, visit About Ameresco, Inc. Founded in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading energy solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering diversified generation solutions to Federal, state and local governments, utilities, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit About CounterpointeSRE CounterpointeSRE focuses on direct debt investments in energy transition. We finance high-quality sustainable energy and climate-related infrastructure assets including grid-connected and behind-the-meter solar, battery energy storage systems ('BESS') and other energy efficiency asset classes throughout the United States. In addition, we arrange tax credit purchases and tax equity partnerships alongside our debt to solve clients' project requirements. CounterpointeSRE, a portfolio company of MassMutual, provides C-PACE and sustainable mortgage financing to accelerate the transition to low-carbon infrastructure assets in addition to energy transition investments. About Barings LLC Barings is a $442+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions. *As of March 31, 2025 Forward looking statements Any statements in this release about future expectations, plans and prospects for Ameresco, Inc., including statements about expected future borrowings under the financing arrangement, the completion of assets in development and future growth of our energy assets and other statements containing the words 'projects,' 'believes,' 'anticipates,' 'plans,' 'expects,' 'will' and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward looking statements as a result of various important factors, including: demand for our energy efficiency and renewable energy solutions; the timing of, and ability to, enter into contracts for awarded projects on the terms proposed or at all; the timing of work we do on projects where we recognize revenue on a percentage of completion basis; the ability to perform under signed contracts without delay and in accordance with their terms and the potential for liquidated and other damages we may be subject to; the fiscal health of the government and the risk of government shutdowns and reductions in the federal workforce; our ability to complete and operate our projects on a profitable basis and as committed to our customers; our cash flows from operations and our ability to arrange financing to fund our operations and projects; our customers' ability to finance their projects and credit risk from our customers; our ability to comply with covenants in our existing debt agreements; the impact of macroeconomic challenges, weather related events and climate change; our reliance on third parties for our construction and installation work; availability and cost of labor and equipment particularly given global supply chain challenges, tariffs and global trade conflicts; global supply chain challenges, component shortages and inflationary pressures; changes in federal, state and local government policies and programs related to energy efficiency and renewable energy; the ability of customers to cancel or defer contracts included in our backlog; the output and performance of our energy plants and energy projects; cybersecurity incidents and breaches; regulatory and other risks inherent to constructing and operating energy assets; the effects of our acquisitions and joint ventures; seasonality in construction and in demand for our products and services; a customer's decision to delay our work on, or other risks involved with, a particular project; the addition of new customers or the loss of existing customers; market price of our Class A Common stock prevailing from time to time; the nature of other investment opportunities presented to our Company from time to time; risks related to our international operation and international growth strategy; and other factors discussed in our most recent Annual Report on Form 10-K and our quarterly reports on Form 10-Q. The forward-looking statements included in this release represent our views as of the date of this release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this release.
Associated Press
07-02-2025
- Business
- Associated Press
$33.7 Million C-PACE Financing Secures Future for Four Seasons Embarcadero Hotel in San Francisco
SAN FRANCISCO, CALIFORNIA / ACCESS Newswire / February 7, 2025 / The iconic Four Seasons Embarcadero Hotel, a recently renovated and rebranded luxury property in the heart of San Francisco, has secured $33.7 million in Commercial Property Assessed Clean Energy (C-PACE) financing to fund sustainable upgrades to its plumbing, building envelope, and electrical systems. This financing comes at a pivotal moment for the 155-key hotel, located at 222 Sansome Street, which was facing foreclosure before the transaction was completed. The C-PACE funding will support sustainability-focused improvements that enhance energy efficiency and long-term resilience, reinforcing the commitment to modern, environmentally conscious hospitality by one of San Francisco's premier luxury hotels. 'This transaction demonstrates the strength of CounterpointeSRE's innovative financing solutions in preserving landmark properties and supporting the revitalization of San Francisco's hospitality sector' said Eric Alini, CEO of CounterpointeSRE. CounterpointeSRE has strengthened its hospitality lending platform with the addition of industry veterans Gavin Elwes, Jo Hastings, and Kyle Geoghegan. C-PACE financing is designed to support energy-efficient and sustainable building upgrades, allowing property owners to repay costs through a special property tax assessment. The structure enables long-term investment in infrastructure without the burdens of traditional debt. Preserving Key Economic Assets The Four Seasons Embarcadero Hotel, perched on the top floors of a historic high-rise, offers panoramic views of the city and San Francisco Bay. Following the extensive renovation, the hotel continues to be a sought-after destination for both business and leisure travelers. This transaction highlights the growing role of C-PACE financing in urban markets facing economic challenges. The hospitality industry has been reported to be the largest asset class to incorporate C-PACE into capital stacks for new construction as well as recapitalizations. With this financing in place, the Four Seasons Embarcadero is positioned for long-term success while maintaining its status as a premier luxury destination in San Francisco. About CounterpointeSRE CounterpointeSRE operates at the intersection of commercial real estate and energy industries providing mortgage, C-PACE and other energy financial products. As a portfolio company of MassMutual, our focus is to provide one-stop sustainable finance solutions to commercial real estate owners/operators.
