Ameresco secures up to $ 30 million construction loan facility from Fifth Third Bank


FRAMINGHAM, Mass .– (COMMERCIAL THREAD) – Ameresco, Inc., (NYSE: AMRC), a leading energy efficiency and renewable energy companies, today announced that it has entered into a construction loan facility of up to $ 30 million to finance solar projects and assets.

Funding was secured by a construction loan facility from Fifth Third Bank, National Association. This non-recourse facility allows Ameresco to withdraw loan proceeds for solar projects under construction as a gateway to their permanent financing or sale during commercial operation.

“This innovative facility represents a flexible source of construction capital for our solar assets,” said Doran Hole, Chief Financial Officer of Ameresco. “Fifth Third has demonstrated its continued confidence in renewable energy and Ameresco’s ability to move projects forward through difficult times.”

“This funding highlights the continued growth of the solar market and Fifth Third’s commitment to the renewable energy sector,” said Eric Cohen, renewable energy finance manager at Fifth Third Bank, NA. industry since 2012, Fifth Third is proud to help clients across the country access capital and achieve their goals.

To learn more about Ameresco’s solar power solutions, visit www.ameresco.com/solution-solar-power/.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading independent provider of full service, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses. and organizations in North America and Europe. Ameresco’s sustainability services include upgrading a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving and environmentally friendly projects with federal, state and local governments, health and educational institutions, housing authorities, and commercial and industrial customers. With its head office in Framingham, MA, Ameresco has over 1,000 employees providing local expertise in the United States, Canada and the United Kingdom. For more information, visit www.ameresco.com.

The announcement of entry into a construction credit facility is not necessarily indicative of the future availability of borrowings under that facility or of changes in the company’s overall access to finance. This facility has been reflected in the Company’s financial statements as at September 30, 2020.

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