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Cero Generation Selects Ameresco and Sunel as Partners on 100MWp Delfini Solar Project

16 August 2022

Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced that Ameresco Energy Hellas S.A., a wholly-owned subsidiary of Ameresco Inc. and Sunel Group, an international developer and EPC contractor for energy projects, have been selected by Cero Generation, a leading European solar energy developer, as the contractors for “Delfini”, a 100 MWp solar photovoltaic (PV) project.

As part of the project, Ameresco SUNEL Energy S.A. - the joint company already established in Greece - will undertake the Engineering, Procurement and Construction (EPC) of the 100-MW solar PV park in Prosotsani Drama, Greece. The Delfini solar project is one of Greece's first solar project to utilize a private power purchase agreement that does not benefit from government subsidies on electricity costs. The launch of the Delfini solar project marks the start of a new chapter for the delivery of cheaper, clean energy to Greece’s grid.

“We are delighted to be partnering with Ameresco and Sunel Group on this landmark project. Against the backdrop of an ongoing energy crisis, we're helping to deliver cheaper, cleaner power across the country and supporting the government's ambitious transition goals. This project is an important step in the expansion of Cero's Greek portfolio and one of many market-leading projects in our pipeline,” said Marta Martinez Queimadelos, CEO of Cero Generation.

“We’re thrilled to have been selected as a partner on this innovative and important project. As one of the first private power purchase agreement for a solar project in Greece, this move sets the stage for future contracts that will stand to benefit the country both economically and environmentally,” said Britta MacIntosh, SVP, Ameresco “It’s an honor to play such an active role in developing a greener and cleaner future for Greece.”

"Sunel Group's collaboration with Cero and Ameresco on the 'Delfini' project is an important milestone, as it gives us the opportunity to leave our footprint in yet another important photovoltaic project. Cero is a valuable partner for us. Our commitment is to successfully deliver the Delfini project, on time and with high quality, thus strengthening our collaboration for its future projects" said Sunel Group CEO Konstantinos Zygouras.

Mr. Zygouras also emphasized that "The partnership of SUNEL Group with Ameresco opens new possibilities for growth in addition to this first specific project in Greece, as we are jointly exploring the expansion to additional countries and the creation of new models for providing specialized services to prospective investors.”

Project construction has begun and is expected to reach completion by Q3 2023. The Cero, Ameresco and Sunel project teams, along with recognized dignitaries such as Kostas Skrekas, Minister of Energy and Environment, Adonis Georgiadis, Minister of Development and Investment, and Nikolas Tagaras, Deputy Minister of Energy and Environment, celebrated the launch of the project with an in-person event in Athens on July 13, 2022.

To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.

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 energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and Europe. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and Europe. For more information, visit www.ameresco.com.

About Sunel Group

SUNEL Group is an international EPC contractor and Developer. Founded in 2006 by Greek stakeholders, the group has won the trust of the international investment community by its professionalism, reliability, efficiency, and work ethic, thus creating a strong and recognizable brand. Since 2012, Sunel has been rapidly expanding, by establishing operational centers in Athens, London, Valencia, Dubai and Istanbul. It has operated on 4 continents and has implemented to date 500+ projects, with a total capacity of over 1,000 MWp in Greece, Cyprus, Turkey, United Kingdom, France, Spain, the Ukraine and the United Arab Emirates. It is currently constructing projects in Greece, Cyprus, Denmark, Spain, United Kingdom, Malawi and Chile, of a total capacity exceeding 400 MWp. For the next 5 years SUNEL is planning to develop solar projects of over 2.000 MWp, in cooperation with strategic investors. For more information, visit www.sunelgroup.com.

About Cero Generation

Cero Generation is a leading solar energy company, working across Europe to support the transition to a net-zero future, for this and every generation. Active throughout the project lifecycle, from development through to construction and operations, its highly experienced team collaborates with local partners to bring world-class industrial, commercial and technical expertise to our projects. Cero’s 9 GW solar development portfolio is one of the largest in Europe, covering both utility-scale and on-site generation projects, as well as integrated energy storage solutions. Dedicated to delivering high-quality, high-performing assets, Cero provides corporate and industrial clients with the solutions to accelerate their pathway to a net-zero future. Cero is an independent portfolio company of Macquarie’s Green Investment Group (GIG) operating on a stand-alone basis. For more information, visit www.cerogeneration.com

The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported awarded backlog as of June 30, 2022.

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