Ameresco SUNEL Energy SA Announces 466 MWp Solar Projects in Romania

€303.4 Million EPC Solar Projects to Enhance Romania’s Renewable Energy Initiatives and Reduce Carbon Emissions

FRAMINGHAM, Mass. & ATHENS, Greece--(BUSINESS WIRE)--Ameresco SUNEL Energy SA, a joint venture between Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition, and SUNEL Group, an international solar PV EPC contractor, today announced €303.4 million EPC Contracts for three solar parks located in the southwestern region of Romania. These 466 MWp solar projects represent a major milestone in Romania's journey towards enhancing its energy security, fostering economic growth, and meeting its climate commitments. It will replace coal-fired power generation and bolster the nation's commitment to phasing out coal by 2032.

As the Engineering, Procurement, and Construction (EPC) contract provider, Ameresco SUNEL Energy SA is dedicated to ensuring the highest efficiency and environmental standards. Ameresco SUNEL Energy SA will oversee the design, procurement, construction, commissioning, operation, and maintenance.

"These projects exemplify our commitment to advancing renewable energy solutions and underscore the importance of Europe's growth and stability," said Pete Christakis, President of East USA & Managing Director of Ameresco SUNEL Energy SA. "By leveraging our expertise and resources, we are not only helping Romania achieve its clean energy goals but also reinforcing our strategic diversification across Europe.”

The projects will feature over 757,000 fixed-tilt solar modules, designed to maximize energy capture and efficiency while contributing to the region’s transition away from coal-fired power generation. Once fully operational, the solar parks are expected to offset approximately 734,789 tonnes of CO₂ emissions annually, contributing to Romania’s and Europe’s broader net-zero commitments.

“Romania’s vast solar potential, combined with strategic investments in renewable energy, will position the country as a leader in Europe’s clean energy transition,” commented Konstantinos Zygouras, Vice President at Ameresco SUNEL Energy SA. “We are proud to partner with OMV Petrom CEO to drive this ambitious project forward, fostering economic growth while contributing to a more sustainable future.”

Construction of the projects is expected to be completed within 18 months, bringing Romania closer to its renewable energy targets while strengthening its position as a regional leader in the transition to clean energy.

To learn more about solar power solutions offered by Ameresco, visit https://www.ameresco.com/solution-solar-power/

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading energy solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering diversified generation solutions to Federal, state and local governments, utilities, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered 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 SUNEL Group

SUNEL Group is an international EPC contractor and Developer. Founded in 2006 by Greek stakeholders, the group has won the trust of the international investment community by its professionalism, reliability, efficiency, and work ethic, thus creating a strong and recognizable brand. Since 2012, Sunel has been rapidly expanding, by establishing operational centers in Athens, London, Valencia, Dubai and Bucharest. It has operated on 4 continents and has implemented to date 500+ projects, with a total capacity of over 1,500 MWp in eleven countries. It is currently constructing projects in Greece, Cyprus, Romania, Italy, Spain and the United Kingdom, of a total capacity exceeding 1.900 MWp. For more information, visit www.sunelgroup.com.

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. Ameresco’s share of this project was included in its previously reported contracted backlog as of December 31, 2024.