Ameresco and Southern California Edison Reach Agreement on Substantial Completion Milestone for Two Battery Energy Storage Projects.
Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced that it has reached an agreement with Southern California Edison Company (SCE) on the substantial completion of two out of three battery energy storage system projects. SCE will pay approximately $110 million within seven days for the milestone completion, reflecting a set-off of liquidated damages which are still in dispute and additional work costs. Final acceptance payments will follow upon project completion. The third project is expected to reach substantial completion in Q4 2024.
To learn more about the energy efficiency and renewable energy solutions offered by Ameresco, 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.
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Ameresco and Southern California Edison Reach Agreement on Substantial Completion Milestone for Two Battery Energy Storage Projects. source
