Ameresco (AMRC, Financial), in collaboration with SUNEL Energy SA, has secured EUR 303.4 million in contracts to develop three significant solar parks in Romania. These projects are a partnership with the SUNEL Group, known internationally for their expertise in solar photovoltaic engineering, procurement, and construction (EPC).
The solar initiatives, located in Romania's southwestern region, will collectively have a capacity of 466 megawatt-peak (MWp). This development marks a significant step for Romania as it seeks to enhance its energy security and drive economic growth, while also adhering to its climate goals. The projects aim to replace coal-fired power sources, aligning with the country's target to eliminate coal usage by 2032.
Key features of these solar parks include over 757,000 fixed-tilt solar modules that are specifically designed to optimize energy efficiency and capture. This configuration supports Romania's transition from coal-based energy to more sustainable sources.
Upon completion, the solar parks are anticipated to significantly reduce carbon emissions, with an expected annual offset of approximately 734,789 tonnes of CO2. This reduction will contribute to Romania's and the broader European region's aspirations toward achieving net-zero emissions targets.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 10 analysts, the average target price for Ameresco Inc (AMRC, Financial) is $22.00 with a high estimate of $34.00 and a low estimate of $8.00. The average target implies an upside of 121.11% from the current price of $9.95. More detailed estimate data can be found on the Ameresco Inc (AMRC) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, Ameresco Inc's (AMRC, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Ameresco Inc (AMRC, Financial) in one year is $49.17, suggesting a upside of 394.17% from the current price of $9.95. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Ameresco Inc (AMRC) Summary page.
