AMRC - Ameresco Sunel to submit joint bids for European solar projects topping 1.5 GW

2023-04-24 14:53:58 ET

Ameresco ( NYSE: AMRC ) +7.1% in Monday's trading after saying it teamed with Greek EPC contractor for energy projects Sunei Group to bid for projects surpassing 1.5 GWp in the U.K., Greece, Italy, Spain and Romania.

The two companies said they established Ameresco Sunel Energy, which already has been selected by European solar energy developer Cero Generation as the contractor for Delfini, a 100 MWp solar photovoltaic project in Greece now in the construction phase.

The strategic alliance aims to accelerate utility scale renewable generation and redefine performance standards, the companies said.

The new projects currently in the bidding phase are expected to exceed $500M in contract value, the companies said.

Ameresco ( AMRC ) has "a solid energy efficiency and renewable solutions business and deep customer base in the U.S.," whose core will benefit from the U.S. Inflation Reduction Act, Keith Williams writes in an analysis published on Seeking Alpha .

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