The Financial Arrangement with CounterpointeSRE and Barings also Includes an Expected Issuance of a Second Series of Notes, an Additional Uncommitted $300 Million Shelf Facility and a Tax Credit Purchase Agreement for Future Ameresco Energy Assets
Ameresco, Inc., a leading energy solutions provider dedicated to helping customers navigate the energy transition, announced that one of its subsidiaries executed a note purchase agreement and private shelf agreement to finance its ongoing and future energy infrastructure projects. This strategic financial arrangement underscores Ameresco’s commitment to advancing energy solutions and enhancing energy resilience.
The first note purchase provides for the issuance of Series A notes of $78 million to finance a battery energy storage asset currently under construction. The Series A notes have a maturity date of 2045 and carry a fixed interest rate. The arrangement also contemplates the issuance (upon lender approval) of Series B notes for a separate solar plus battery energy storage asset and includes an additional 20-year term. The Ameresco subsidiary entered a $300 million uncommitted private Shelf Facility for future solar and battery energy assets.
As part of this transaction, Ameresco signed an agreement for the transfer of investment tax credits associated with the battery asset upon the asset achieving commercial operation. Ameresco expects to sign agreements for the transfer of tax credits for the solar plus storage asset associated with the Series B notes, as well as for future deals under the private shelf facility.
“This financial arrangement marks a significant milestone for Ameresco as we continue to lead the way in providing innovative energy solutions,” said George Sakellaris, President & CEO of Ameresco. “We expect that the $300 million private shelf facility will allow us to execute multiple transactions, enhancing our ability to deliver energy projects that drive cost savings, resilience, and decarbonization. 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.”
“We are thrilled to partner with Ameresco, a leading energy solutions and infrastructure provider, to finance impactful renewable energy and storage initiatives,” said Eric Alini, CEO of CounterpointeSRE. “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.”
“Barings is delighted to work alongside Ameresco and our affiliate, CounterpointeSRE, on this innovative financing,” said Stephen Coscia, Managing Director, Global Infrastructure Debt at Barings. “By combining Barings’ debt expertise with CounterpointeSRE’s origination and tax equity capabilities, we’re able to provide Ameresco with a flexible, comprehensive capital solution. This collaboration underscores the unique advantages of our broad platform and our joint commitment to advancing the clean energy transition.”
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