Ameresco (NYSE: AMRC) is an energy services company that designs, engineers, installs, and operates energy efficiency and renewable energy systems for facilities across North America and Europe. It makes money through project construction contracts, long-term power purchase agreements on plants it owns and operates, and operations and maintenance service contracts. The company serves government, institutional, and commercial customers across five reporting segments: North America Regions (49.7% of FY2024 revenue), U.S. Federal (21.0%), Europe (14.2%), Renewable Fuels (9.8%), and All Other (5.3%). As of December 31, 2024, Ameresco held a fully-contracted project backlog of $2.54 billion and a total project backlog of $4.82 billion, with O&M fully-contracted backlog of $1.38 billion. The company is headquartered in the United States and employed 1,509 people as of December 31, 2024. George P. Sakellaris serves as Chairman, President, and Chief Executive Officer.

Revenue model

Revenue comes from three primary streams: fixed-price design and construction contracts for energy infrastructure projects, recurring operations and maintenance service contracts, and energy sales under long-term power purchase agreements from plants Ameresco owns and operates, including landfill gas, solar, wind, and renewable natural gas facilities.

Products and services

Energy efficiency design and installation, small-scale renewable energy plant development and construction, landfill gas to energy projects, renewable natural gas production and sales, solar PV systems (integrated-PV), wind energy, operations and maintenance services, and energy software and consulting services.

Customers and end markets

Federal government agencies (U.S. Federal segment, 21.0% of FY2024 revenue), state and local government facilities, municipal utilities, and commercial and institutional facility owners. Customers enter long-term power purchase agreements for off-site renewable generation or contract for on-site energy efficiency retrofits.

Value-chain role

Ameresco acts as developer, designer, engineer, constructor, owner-operator, and long-term service provider. It controls projects from site identification and permitting through construction and ongoing O&M, positioning it across multiple stages of the energy infrastructure value chain rather than as a pure equipment supplier or pure service provider.

Geographic exposure

United States (North America Regions and U.S. Federal segments), Canada (included in North America Regions), United Kingdom and continental Europe including Italy and Greece (Europe segment, 14.2% of FY2024 revenue). As of December 31, 2024, employees were based in 43 U.S. states, eight Canadian provinces, five UK locations, one Italian location, and one Greek location.

Source: SEC 10-K, filed 2025-02-28

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