Ameresco, Inc. AMRC shares are rising on Friday.
In collaboration with the U.S. Navy and Hawaiian Electric Company (HECO), Ameresco is launching the Pu’uloa Microgrid project under the Grid Resilience and Innovation Partnerships (GRIP) Program.
The goal is to improve energy reliability for Joint Base Pearl Harbor Hickam (JBPHH) and Oahu.
The GRIP Program was created by the Bipartisan Infrastructure Law and is managed by the U.S. Department of Energy’s Grid Deployment Office.
“With extreme weather impacting electric systems nationwide, the Biden-Harris Administration is committed to ensuring a reliable power grid,” said Maria Robinson, Director, Grid Deployment Office, U.S. Department of Energy.
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The Pu`uloa Microgrid will utilize a mix of microgrid and smart grid technologies to diversify energy sources while providing clean energy and jobs for Hawaii residents.
According to Benzinga Pro, AMRC stock is down over 2% in the past year. Investors can explore this stock through the SPDR S&P Kensho Clean Power ETF CNRG and Invesco Global Clean Energy ETF PBD.
“Collaborating with the U.S. Navy and HECO on the Pu`uloa Microgrid project will enhance energy reliability for JBPHH and benefit the wider Oahu community,” said Nicole Bulgarino, Executive Vice President at Ameresco.
Price Action: AMRC shares are up 2.99%, priced at $31.83 as of Friday.
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