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.
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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.
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By GlobalDataAmeresco 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.
