Ameresco and Atura Power JV Selected to Build 250MW/1,000MWh Battery Energy Storage System

FRAMINGHAM, Mass. AND GREATER NAPANEE, Ontario – June 8, 2023 – Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced that its joint venture was selected to build a 250 megawatt (MW), 1,000 megawatt hour (MWh) battery energy storage system (BESS) in partnership with Atura Power, a subsidiary of Ontario Power Generation, by the Independent Electricity System Operator (IESO) in Canada. Ameresco and Atura Power will complete the project through a joint venture (JV) known as the Napanee BESS Inc. Pursuant to the award, the JV will enter into a twenty-year capacity agreement with the IESO. In addition to being a 10.1% minority partner in the Napanee BESS Inc. JV, Ameresco will provide Engineering and Construction (E&C) solutions and expertise for the installation of the BESS under separate contract with the JV.

This award builds on Ameresco’s proven expertise and execution on large utility-scale BESS systems. The JV looks forward to pursuing additional BESS opportunities throughout Ontario. The collective projects makeup the largest award of BESS in Canada’s history, and the energy generated from these new facilities will meet province-wide electrical capacity needs.

The IESO expects that Ontario will have at least 1,217 MW of energy storage capacity, up from 228 MW currently, participating in the IESO’s electricity market by 2026 as a result of this project and other similar storage installations.

“We are proud that Ameresco was one of the forward-thinking companies that provided the IESO with pilot projects that gave them confidence that BESS systems are ready for prime time at this size,” said Lou Maltezos, EVP of Ameresco. “In partnership with Atura Power, we are honored that our JV has been selected by the IESO for this battery energy storage system installation, one of the largest in Canadian history. This project is designed to significantly bolster the province’s energy security and reliability, ushering Canada into a greener, more sustainable age.”

“Energy storage is a key component in building a clean economy,” says Shelley Babin, President and CEO of Atura Power. Atura Power is proud to own and operate the infrastructure necessary to support a consistent and reliable supply of clean energy for Ontario.”