Ameresco Earns Over $70 Million In Cash From Selling RNG Investment Tax Credits

Ameresco, Inc., a prominent provider of energy efficiency and renewable energy solutions, has announced the successful sale of approximately $71 million in Investment Tax Credits (ITCs) generated from three of its landfill-gas-to-renewable natural gas (RNG) projects. These projects, which were fully developed, constructed, financed, and are currently operated by Ameresco, were commissioned and placed into service in 2024.

This marks Ameresco’s third transaction involving the sale of ITCs to a corporate buyer, and notably, its first such transaction involving RNG tax credits under the transferability provisions introduced by recent policy changes. The ability to complete this transaction reflects the company’s growing expertise in leveraging available clean energy incentives and securing project financing through a diverse mix of lenders and investors.

Mike Bakas, President of Renewable Fuels at Ameresco, stated, “We are excited to complete our first RNG tax credit sale, which reflects the growing value and market confidence in renewable natural gas as a critical component of the clean energy transition. This milestone builds on our recent success monetizing solar and battery storage tax credits, including our landmark transaction with MassMutual, and demonstrates our ability to leverage a variety of financial structures to unlock value from our energy assets.”

STX Group served as the exclusive facilitator for this transaction, supporting Ameresco in the structuring and execution of the ITC sale. The success of this effort highlights Ameresco’s continued progress in creating value from its renewable energy portfolio and demonstrates a strong capability to monetize clean energy assets under evolving regulatory frameworks. Ameresco remains committed to its mission of driving the clean energy transition and will continue to explore strategic opportunities to optimize its diverse portfolio of energy projects, including further utilization of tax credit monetization strategies.