Ameresco has begun construction on a 7.74‑MW DC (5.85‑MW AC) solar photovoltaic system that will span 22 municipal facilities in Chandler, Arizona, including covered parking canopies, rooftop arrays, and ground‑mounted installations at the city’s airport water reclamation plant. The project is slated for completion in 2026 and will generate more than 14.5 million kWh per year, offsetting over 60 % of Chandler’s electricity consumption and delivering roughly $1 million in annual utility savings.
The system will benefit from the federal Investment Tax Credit for Renewable Energy, which reduces the upfront cost and accelerates the return on investment for the city. Ameresco’s design‑build delivery model and its experience with municipal projects are expected to keep the project’s cost profile competitive while meeting the city’s sustainability targets.
Ameresco’s announcement comes shortly after the company reported Q3 2025 results that beat expectations, with revenue of $526 million (up 5 % YoY) and GAAP EPS of $0.35, a $0.09 beat over the consensus of $0.26. The earnings beat was driven by strong demand for Ameresco’s Projects segment, which generated $409.95 million in revenue, and by disciplined cost management that preserved margins despite a one‑time gain that raised net income. The company’s total project backlog exceeded $5 billion, with $2.5 billion already contracted, underscoring the pipeline strength that supports the new Chandler contract.
CEO George Sakellaris said the company’s “solid year‑on‑year growth across key business segments reflects increased demand and improved execution,” highlighting the company’s flexible financing options and its expansion into data‑center, steel, and electric‑vehicle charging markets. He added that the backlog of more than $5 billion signals confidence in the company’s ability to capture new opportunities while maintaining profitability.
Analysts noted that while the earnings beat and robust EBITDA performance were encouraging, concerns about profit quality—stemming from the one‑time gain—and the company’s debt levels tempered enthusiasm. The market reaction reflected a cautious stance, with some analysts raising price targets but remaining wary of the sustainability of the earnings quality and the impact of rising interest rates on the company’s capital structure.
The Chandler project reinforces Ameresco’s strategy of partnering with local governments to deploy cost‑effective, resilient energy solutions that reduce dependence on external power markets. By adding a high‑profile municipal contract to its portfolio, Ameresco strengthens its presence in the growing Arizona market and positions itself to capture additional opportunities in the municipal renewable sector, while its strong backlog and disciplined execution provide a foundation for continued growth.
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