Ameresco, Lendlease Partner For $102M Clean Energy Modernization Project - Ameresco (NYSE:AMRC)

Ameresco Inc AMRC has partnered with Hickam Communities LLC, owned and managed by Lendlease, at Joint Base Pearl Harbor-Hickam (JBPHH) Air Force Base in Hawaii for a $102 million energy conservation project and accompanying 25-year O&M service agreement.
The project will provide holistic energy solutions to modernize over 2,500 privatized military housing units and is expected to generate $13 million in annual cost savings.
Ameresco and Lendlease established a joint venture in 2015 known as Energy Solutions and Security, LLC. The project is the second one for the JV.
The project is designed to decrease HC’s grid-tied consumption by 30% over the 25-year term of the project performance period.
Construction on the project is expected to be completed early in 2025.
Price Action: AMRC shares are trading lower by 1.88% at $77.86 on the last check Wednesday.