The initial note purchase is earmarked for financing a battery energy storage asset currently under construction.
The initial agreement includes Series A notes worth $78 million, designated for financing a battery energy storage asset currently under construction. These notes, maturing in 2045, carry a fixed interest rate. The financial arrangement, involving CounterpointeSRE and Barings, also anticipates the issuance of Series B notes, pending lender approval, to fund a solar-plus-battery energy storage project with a 20-year term.
Ameresco’s president and CEO, George Sakellaris, highlighted the significance of the deal: “This financial arrangement marks a significant milestone for Ameresco as we continue to lead the way in providing innovative energy solutions. We expect that the $300m private shelf facility will allow us to execute multiple transactions, enhancing our ability to deliver energy projects that drive cost savings, resilience and decarbonisation.” The $300 million uncommitted private shelf facility will support upcoming solar and battery energy projects, offering flexibility to accelerate sustainable infrastructure deployment.
Additionally, Ameresco has arranged to transfer investment tax credits tied to the battery asset, to be realized once it begins commercial operations. Similar tax credit transfer agreements are planned for the Series B notes and future transactions under the private shelf facility. This approach strengthens Ameresco’s project financing capabilities, supporting the development of clean energy assets.
Eric Alini, CEO of CounterpointeSRE, emphasized the alignment with their goals: “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.” The collaboration underscores a shared focus on advancing sustainable energy solutions.
In a separate development, Ameresco’s Irish subsidiary, Cork Sustainable Energy, recently received approval from An Bord Pleanála for a significant upgrade to the Kilvinane Wind Farm in Ireland, further expanding the company’s renewable energy portfolio.
