Ameresco, Inc. AMRC shares are up on Friday.
Ameresco is collaborating with the U.S. Navy and Hawaiian Electric Company (HECO) on the Pu’uloa Microgrid project, which will be part of the Grid Resilience and Innovation Partnerships (GRIP) Program.
This initiative aims to improve energy resilience for Joint Base Pearl Harbor Hickam (JBPHH) and Oahu.
The GRIP Program is funded by the Bipartisan Infrastructure Law and managed by the U.S. Department of Energy’s Grid Deployment Office (GDO).
Maria Robinson, Director of the GDO, stated that the Biden-Harris Administration is working to ensure America’s power grid remains reliable amidst extreme weather.
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Ameresco plans to utilize a hybrid approach with the Pu`uloa Microgrid, enhancing grid resilience, diversifying energy sources, and creating jobs while providing clean energy to Hawaii.
According to Benzinga Pro, AMRC stock has declined by over 2% in the last year. Investors can access the stock through the SPDR S&P Kensho Clean Power ETF CNRG and the Invesco Global Clean Energy ETF PBD.
Nicole Bulgarino, EVP at Ameresco, stated that this partnership will enhance energy resilience for JBPHH and provide significant benefits to the Oahu community.
Price Action: AMRC shares are up 2.99% to $31.83 as of the latest update.
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