Ameresco books $1.8 billion in new awards as power demand remains strong

Ameresco AMRC.N said on Monday it added $1.8 billion in new awards to its project backlog in the second quarter, more than tripling from a year ago amid strong demand for energy efficiency and renewable energy programs.

The company's total project backlog rose about 32% to $6.73 billion in the quarter from a year earlier.

The growth comes as rising demand from AI-focused data centers and rapid electrification of homes, businesses and transportation are expected to push U.S. power consumption to record highs in 2026 and 2027 after setting a second straight annual record last year, according to the Energy Information Administration.

CEO George Sakellaris told Reuters that about $1.2 billion of the new awards booked during the quarter was tied to data center projects, while the remaining $600 million came from the company's other business lines, including industrial and commercial customers.

"We successfully advanced three new behind-the-meter data center projects, bringing the total number of data center projects in our awarded project backlog to five," Sakellaris said in a statement.

Massachusetts-based Ameresco is an energy infrastructure company that helps businesses, government agencies and others reduce energy costs, upgrade aging facilities and develop renewable and distributed energy resources.

Co-President Nicole Bulgarino said data center projects usually take to progress from development to award due to the time needed for design and permitting. She added that the company anticipates more projects reaching this stage soon.