Ameresco Announces a new Contract for a Battery Energy Storage System Asset with Snohomish County Public Utility District (PUD)

25-megawatt battery energy storage system to enhance utility’s system reliability as the largest standalone battery installation to date in the Pacific Northwest

FRAMINGHAM, Mass. & EVERETT, Wash.--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced it has signed a contract with Snohomish County Public Utility District (PUD) to construct a battery energy storage system (BESS) with a 20-year guaranteed capacity of 25 megawatts (MW) and 100 megawatt-hours (MWh).

The installation represents the largest standalone battery project to date in the Pacific Northwest. The 25-year tolling agreement keeps Ameresco as the asset owner and Snohomish PUD as the exclusive customer of the project. The BESS will provide the PUD with enhanced electrical system reliability and flexibility while reducing exposure to energy price volatility, making the project a significant milestone in the advancement of sustainable energy solutions in Washington State.

“This project represents a paradigm shift in the Pacific Northwest energy industry,” said Nicole Bulgarino, Executive Vice President at Ameresco. “By collaborating with Snohomish PUD, we are pioneering a unique model where the owner and the customer are distinct entities, showcasing the versatility and scalability of utility-scale storage solutions.”

Construction on the energy storage asset is currently expected to begin in late 2024 and be operational in late 2025. It allows Ameresco to provide Snohomish PUD the flexibility to utilize the battery energy storage system for charging and discharging activities under the tolling agreement. This long-term arrangement underscores both organizations' commitments to driving innovation and sustainability within the region.

“We’re excited to work with Ameresco on making this new battery energy storage project a reality,” said John Haarlow, Snohomish PUD CEO/General Manager. “Energy storage is a critical component to helping us keep the grid reliable and affordable while also meeting our clean energy goals.”

To learn more about Ameresco and the company’s clean energy solutions, visit www.ameresco.com.

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 Snohomish PUD 
Created by a vote of the people in 1949, Snohomish County PUD is the second largest public power utility in Washington state and the 12^th largest in the United States. The PUD, which serves electricity to more than 875,000 residents of Snohomish County and Camano Island, is a national leader in clean energy and renewable energy technology. For more, visit snopud.com.

The announcement of the development of a renewable energy asset by Ameresco is not necessarily indicative of the timing or amount of revenue from such asset, of the company’s overall revenue for any particular period or of trends in the company’s overall total assets in development or operation. This project was included in our previously reported assets in development as of March 31, 2024.