Ameresco, Inc. has announced that it has reached an agreement with Southern California Edison Company (SCE) on the substantial completion of two out of three battery energy storage system projects.
SCE will pay approximately $110 million within seven days for the milestone completion, reflecting a set-off of liquidated damages which are still in dispute and additional work costs. Final acceptance payments will follow upon project completion. The third project is expected to reach substantial completion in Q4 2024.
Founded in 2000, Ameresco, Inc. is a cleantech integrator and renewable energy asset developer, owner and operator. Its comprehensive portfolio includes solutions that help customers reduce costs, decarbonize to net zero, and build energy resiliency while leveraging smart, connected technologies.
