The 300-megawatt EPC project, powered by
Envision Energy's Battery Energy Storage System, is scheduled to
break ground in H1 2024
Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator
specializing in energy efficiency and renewable energy, today
announced that Ameresco and Envision Energy have been chosen by
Atlantic Green to build the Cellarhead project, a 300-megawatt (MW)
battery energy storage project (BESS) with a maximum energy
capacity of 624 megawatt hours (MWh). The Cellarhead BESS project
will be connected to National Grid’s Cellarhead sub-station and
will provide the UK with additional energy security and
reliability.
Construction is anticipated to commence on site this year with
connection to the electricity grid anticipated at the end of 2026.
With a maximum energy capacity of 624 megawatt hours, the
Cellarhead BESS project will support the UK’s ambition to achieve
net zero, supporting the increased penetration of clean energy
generation, decrease reliance on fossil fueled generation, and
ultimately mitigate greenhouse gas (GHG) emissions.
Atlantic Green was established in 2021, as a joint venture
between two entrepreneurial shareholders Nofar Energy, and
Interland Group, as a UK-based platform to invest, develop, and
operate grid-scale standalone battery energy storage systems across
the UK. With a mission to develop a c.2 GW capacity of battery
energy storage to fuel the UK’s clean energy transition, the
Cellarhead BESS represents a key milestone for both Atlantic
Green’s development journey and wider sustainability objectives. As
part of the BESS project Ameresco entered into an EPC and O&M
contract including battery supply, balance of plant, warranty, and
availability guarantees. The EPC full wrap price is c. $249 million
(196.5 million GBP). Tier 1 OEM Envision Energy will provide the
BESS and associated services, as well as the equipment
warranties.
Ameresco and Atlantic Green expect to finish the BESS and secure
grid connection by the middle of 2026. Following completion,
Atlantic Green will own and operate the BESS as an energy storage
asset.
“We believe that a continuous development of battery energy
storage is a vital step in the UK’s journey to achieving net-zero
carbon emissions, and we are excited to team up with Ameresco to
bring this vision to life,” said Nick Bradford, Managing Director
of Atlantic Green. “Since our founding, Atlantic Green has
consistently prioritized finding strategic ways to leverage our
battery storage assets with the wider community and we are eager to
answer the rising demand for battery storage with this new project
with such a level of energy capacity, to really make the impact on
the UK electricity system that is much needed.”
“We’re excited to announce our collaboration with Atlantic Green
to construct one of the largest battery energy storage projects in
the United Kingdom,” said Mark Apsey, MBE, Senior Vice President of
UK Operations at Ameresco. “Energy storage is one of the key
technologies required to achieve the UK’s net zero targets.
Atlantic Green’s strong company leadership and robust track record
of developing similar projects makes them an excellent partner in
this endeavor. Together, Ameresco and Atlantic Green will help
support the UK’s progress towards increased power autonomy and
achieving net-zero carbon emissions by 2050.”
"This project exemplifies our commitment to pushing the
boundaries of battery storage technology, a cornerstone of
sustainable energy systems,” said Kane Xu, Global VP, Envision
Energy. “Partnering with Atlantic Green and Ameresco allows us to
demonstrate the pivotal role that advanced battery solutions play
in enhancing energy security and enabling a seamless transition to
renewable energy sources. We are proud to contribute our
cutting-edge technology to this landmark UK initiative."
To learn more about Atlantic Green, visit,
https://www.atlanticgreen.co.uk.
To learn more about Ameresco and the company’s clean energy
solutions, visit www.ameresco.com.
To learn more about Envision Energy and their technology
solutions for green energy, visit
https://www.envision-group.com/envision-energy.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading
cleantech integrator and renewable energy asset developer, owner
and operator. Our comprehensive portfolio includes solutions that
help customers reduce costs, decarbonize to net zero, and build
energy resiliency while leveraging smart, connected technologies.
From implementing energy efficiency and infrastructure upgrades to
developing, constructing, and operating distributed energy
resources – we are a trusted sustainability partner. Ameresco has
successfully completed energy saving, environmentally responsible
projects with Federal, state and local governments, utilities,
healthcare and educational institutions, housing authorities, and
commercial and industrial customers. With its corporate
headquarters in Framingham, MA, Ameresco has more than 1,500
employees providing local expertise in North America and Europe.
For more information, visit www.ameresco.com.
About Envision Energy
Envision Energy is a world-leading green technology company that
provides renewable energy solutions for global enterprises,
governments, and institutions. Encompassing three major business
sectors - Smart Wind Turbines, Energy Storage, and Green Hydrogen
Solutions, Envision Energy collaboratively constructs comprehensive
solutions for energy transformation. It also manages the
Envision-Hongshan Carbon-Neutral Fund and owns Envision Racing
Formula E team, which conquered the Formula E Teams' Championship
in 2023. Envision Energy has been lauded for its sustainability
performance, earning the EcoVadis Gold Medal and a place on the CDP
“A-List”. It has been recognized in Fortune's “Change the World”
list and ranked among the top 10 smartest companies by the MIT
Technology Review. Today, Envision Energy leverages its global
network of R&D and engineering centers across China, the United
States, the UK, France, Germany, Denmark, and other countries to
continuously lead global green technology development. Envision
Energy joined the Science Based Targets initiative (SBTi) and
committed to achieving the "Business Ambition for 1.5°C" in 2021.
It achieved carbon neutrality across its global operations by 2022
and will achieve carbon neutrality throughout its value chain by
2028. For more information, visit www.envision-group.com
About Atlantic Green
Atlantic Green is a joint venture between two entrepreneurial
shareholders, Interland and Nofar Energy. Atlantic Green focuses on
investing, developing and operating grid-scale standalone battery
energy storage projects in the United Kingdom.
Nofar Energy (TASE: NOFR) is a global Independent Power
Producer and developer of renewable energy assets, specialising in
solar and battery energy storage. Nofar benefits from global
expertise and leadership in the storage sector. Nofar Energy has a
portfolio of c. 3.0 GW of solar and energy storage assets across
Israel, Spain, Italy, UK, US, Romania, Germany, Poland, Greece and
Serbia, of which 1.1 GW are operational or ready to be
connected.
Interland is a private investment group based in London, UK.
The group invests in, develops and operates real estate and
renewable energy assets in the United Kingdom, Netherlands and
Belgium. For more information, visit
https://www.atlanticgreen.co.uk/.
The announcement of a customer’s entry into a project contract
is not necessarily indicative of the timing or amount of revenue
from such contract, of Ameresco’s overall revenue for any
particular period or of trends in Ameresco’s overall total project
backlog. A portion of this project was included in our previously
reported awarded backlog as of March 31, 2024.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240523146272/en/
Media: Ameresco: Leila Dillon, 508-661-2264,
news@ameresco.com
Ameresco (NYSE:AMRC)
Historical Stock Chart
From May 2024 to Jun 2024
Ameresco (NYSE:AMRC)
Historical Stock Chart
From Jun 2023 to Jun 2024