Ameresco’s 9.2MW Wind Project for PPC Renewables Completes Construction in Kefalonia, Greece
Ameresco expands international presence through partnership with renewables subsidiary of Greece’s largest power generation company, Public Power Corporation
FRAMINGHAM, M.A. AND KEFALONIA, GREECE – May 5, 2021 – Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced that its wind turbine project at Xerakia Dilinata of the Municipality of Kefalonia, Greece has completed construction and is in operation. The project is Ameresco’s first international wind project completed on continental Europe and expands the company’s presence as a leader in renewable energy. It was secured as part of a design, build, operate and maintain contract (DBOM) contract awarded to Ameresco in 2019 by PPC Renewables SA (PPCR), a wholly owned subsidiary of Public Power Corporation SA, Greece’s largest power generation company.
Located against the picturesque backdrop of Kefalonia Island, the Kefalonia Wind Project tasked Ameresco with the design and construction of four 2.3 MW wind turbines that will be operated and maintained under an additional 14-year fixed price contract. The €9.8 million renewable energy project will supply clean energy to the area, ensuring that the island’s natural beauty and resources are preserved for future generations.
“In benefitting our local communities with enhanced renewable energy solutions, we contribute to Greece’s standing as a notable international player in the renewable energy space,” said Konstantinos Mavros, ceo of PPCR. “We have been pleased to work together in partnership with the Ameresco team and are proud to be a part of such a meaningful initiative.”
The Kefalonia Wind Project will advance Greece’s environmental sustainability goals by improving the country’s overall environmental footprint and reducing carbon dioxide emissions by 22,000 tons each year. That figure results in savings equivalent to 4,753 passenger cars not driven, 2,475,526 gallons of gasoline not burned or 28,731 acres of pine forest conserved. PPCR will also return 3% of revenues received from the project to local governments and communities as an added cost savings benefit from the project.
“The beauty of Kefalonia is unmatched and we’re thrilled to be contributing to the preservation and betterment of the municipality and its residents both fiscally and environmentally,” said Britta MacIntosh, senior vice president at Ameresco. “This project demonstrates our commitment at Ameresco to providing renewable energy solutions that advance sustainability goals globally.”
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
About Public Power Corporation Renewables SA
PPC Renewables SA (PPCR), is a wholly-owned subsidiary of the Public Power Corporation SA, Greece’s largest power generation company. In 2006, PPCR inherited all Renewable Energy Source (RES) related activities (wind, small hydroelectric, solar and geothermal) from PPC, including all its technological innovation, know-how and expertise in the field of power generation. The company owns 32 Wind Farms, 18 Small Hydro and 28 Photovoltaic Power Plants with its total installed capacity reaching 250MW. For more information, visit www.ppcr.gr
The announcement of a customer’s entry into, or completion of, a construction project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported contracted backlog as of March 31, 2021.