Ameresco to Celebrate the Commercial Operations of Kupono Solar at Joint Base Pearl Harbor-Hickam

42 MW Solar Paired with 42 MW Battery Storage in Ewa is Now Powering 10,000 Homes with Clean, Renewable Energy

(Issued by AMERESCO)

Release Date: 6/13/2024

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FRAMINGHAM, MASS, and HONOLULU, June 13, 2024 Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the commercial operations and dedication ceremony for Kupono Solar. The solar and battery storage facility, located at Joint Base Pearl Harbor-Hickam West Loch Annex, is now operational and supporting Hawaiian Electric’s grid on Oahu.

The dedication ceremony took place today at the Kupono Solar site in Ewa Beach. Speakers for the event included The Honorable Meredith Berger, Assistant Secretary of the Navy and Chief Sustainability Officer; Captain Mark Sohaney, Commander of Joint Base Pearl Harbor-Hickam; Shelee Kimura, President and CEO of Hawaiian Electric; and Nicole Bulgarino, Executive Vice President of Ameresco, among others. Key stakeholders and the community came together to celebrate the critical importance of this landmark project that is contributing to Hawaii's clean energy future. The event highlighted the 42 MW photovoltaic solar array and four-hour 42 MW / 168 MWh battery storage facility’s key benefits, including stabilizing energy costs, reducing fossil fuel usage, and advancing Hawaii's goal of achieving 100% clean energy by 2045.

Using 131 acres of Navy land under a long-term lease, Kupono Solar now provides clean, renewable energy to approximately 10,000 homes on Oahu while offsetting 50,000 tons of CO2 emissions annually. This initiative paves the way for a diversified portfolio of clean energy solutions, aligning with both the Department of Defense’s and the state’s long-term clean energy goals.

“I am thrilled to celebrate the dedication of Kupono Solar, the largest solar-plus-battery storage facility on Oahu,” said Honolulu Mayor Rick Blangiardi. “This groundbreaking project represents a significant step forward in our commitment to energy efficiency and renewable energy. I want to mahalo Ameresco and Executive Vice President Nicole Bulgarino, Hawaiian Electric, the U.S. Navy and Assistant Secretary of the Navy Meredith Berger for their dedication to sustainability, because this project showcases their ability to innovate for the benefit of our community and environment. This is a shining example of how we can work together to build a cleaner, greener future for Oahu.”

Governor Josh Green, M.D., thanked Ameresco and the Kupono Solar project for supporting the state’s ongoing efforts to have 100% renewable energy on Oahu’s grid by 2045. “I was fortunate to participate in the groundbreaking of this project in October 2022 and it gives me great satisfaction to see it powered up now and operating for the benefit of Oahu’s ratepayers. Our congratulations go to Ameresco for launching its first utility-scale solar project in the state of Hawaii, and our thanks go to Hawaiian Electric, the U.S. Navy, and our friends in the Ewa community, for being such wonderful, supportive partners of a clean energy project that is significantly strengthening the power grid.”

“Congratulations and mahalo to Ameresco, the Navy and all those who worked collaboratively to get this project online, even in the face of challenges that included a worldwide pandemic,” said Shelee Kimura, Hawaiian Electric president and CEO. “These strong partnerships move us closer toward energy independence and help build a more resilient Hawaii.”

“The Navy is proud of our partnership with Ameresco, Hawaiian Electric, and the community. Today we celebrate a significant milestone: this project will enhance our shared resilience – ensuring there is reliable energy to support the community and our mission,” said Assistant Secretary of the Navy for Energy, Installations, and Environment (EI&E) and Chief Sustainability Officer, Meredith Berger. “By sharing our resources, we increase our resilience, and provide renewable, reliable, redundant power that support our shared energy goals and shared energy future.”

“Ameresco is delighted to announce the completion of this significant project and the commencement of operations for this renewable energy resource,” said Nicole Bulgarino, Executive Vice President of Ameresco. “In collaboration with the Navy, Hawaiian Electric, and all of the critical community stakeholders, we have developed energy infrastructure that benefits the residents of Oahu and the natural environment. We are proud of the facility’s inauguration and the strides we are making together in sustainable energy development. Our collective efforts are dedicated to providing clean, dependable energy to Hawaii.”

Kupono Solar was a collaborative effort, and the dedication ceremony was marked by the presence of so many pivotal contributors who played a significant role in bringing the project to fruition. This included stakeholders from The United States Navy, Hawaiian Electric, as well as elected officials, policy makers, community members and industry partners.

To learn more about Kupono Solar, visit www.kuponosolar.com and to learn more about Ameresco, visit www.ameresco.com.

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 solutions that help customers reduce costs, decarbonize to net zero, and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

The announcement of Ameresco’s completion of a renewable energy asset project is not necessarily indicative of the timing or amount of revenue from such arrangement, of the company’s overall revenue for any particular period or of trends in the company’s overall total assets in development or operation. This project was included in our previously reported assets in development as of March 31, 2024.