George Sakellaris, Founder & CEO, Ameresco
Ameresco is already a cleantech leader in the United States, but the company has big ambitions going forward. “My next goal is to be No. 1 in Europe. We’re going to be a dominant force in this space and people will see that we are the sustainability partner that can get them to net zero,” CEO George Sakellaris told Invest:
What were some of the highlights or milestones for Ameresco over the last year?
Among the great projects that we did last year was a 42-megawatt solar farm at Joint Base Pearl Harbor-Hickam in Hawai’i. It is the largest solar and BESS on O’ahu designed to deliver clean, reliable energy to local residents. In addition to the solar farm, we designed a microgrid to provide a 100% backup power for army base and resiliency for the Los Alamitos, California region. Moreover, we are partnering with U.S. Navy for cleantech energy project at the Norfolk Naval Shipyard. It’s a huge cogeneration combined heat and power plant with 3MW battery energy storage system, and a microgrid control system at Virginia naval shipyard.
At Ameresco we have diverse portfolio. Another great example is that we deliver cutting-edge energy solutions to the Public Schools where our goal is to provide lighting improvements, energy management systems upgrades, a district-wide solar PV initiatives and a curriculum enhancement program supporting STEM learning for students. . It’s been an amazing experience enhancing energy resilience and sustainability across so many diverse sectors.
What do you see as the biggest opportunities for growth for the company over the next few years?
Here in the state of Massachusetts and beyond, many people want to decarbonize, and we are, of course, the agent or the company that can help them achieve that particular goal. What is also happening is that the green technology market is expanding. A few years back, it was $50 billion, but now it’s almost $150 billion. That includes energy efficiency and what is called distributed generation – small solar farms, micro-grids, and so on.
One of the areas that’s growing a lot lately is resilience. Because of climate change, there are many load interruptions. Also, the grid cannot accommodate the increasing demand. Micro grids can address that. If the overall grid goes out, micro grids still provide power. That is one of the first measures to address resilience, combined with battery storage.
Communities are concerned about resilience, and the market is expanding in that area. People underestimate the potential for energy efficiency. Generally, you can save 25% of the energy in any facility, and you have about less than seven years of payback on the initial investment. The technologies have improved so much that the economics make good sense for customers to do it. The market is expanding, and the opportunities for Ameresco are expanding as well.
Where do you see the highest demand from your clients?
The highest demand comes from the big energy users, such as data centers. They have a high electricity demand, and of course, they need high reliability, so they need resilience. They also want to decarbonize, so they will have some solar or wind, or they will buy some of the power. There are also tremendous opportunities for colleges and universities, not only because it makes good economic sense, but especially because the students are driving sustainability.
They’re doing something about climate change. Many of them are developing 5-, 10- or 20-year plans to decarbonize their campuses, and we love to see this momentum
Then, of course, there are the military bases. These are great customers for us.
How are you assessing the talent pool in the region for these jobs?
One of our greatest challenges is finding the appropriate talent: getting the people, training them, and then, of course, retaining the talent as required. To address that, we have various programs with the various universities around the area, especially those that have co-op programs. We get the students when they are still at the campus, bring them over, work with them, and train them.
We’ve developed a good relationship with the schools, which are great sources of talent. Northeastern University, for example, is a great source of talent for us. We hire a lot of interns for full-time positions post-graduation. Also, Mass Maritime Academy, because we do a lot of engineering work, especially with renewable natural gas, is another great resource for talent as well as UMass, MIT, Harvard, and Boston College, among others.
Where do you see the renewable energy industry in the next five to 10 years?
The market is expanding for us. Our top line will grow, most likely around 10%. Right now, in the federal sector, and of course, the United States, we are No. 1 in energy services. I want to continue to be No. 1, and then my next goal is to be No, 1 in Europe. We have started some work in Europe, and we have very good traction there. Five years from now, I think we’re going to be a dominant force in this space. People will see that we are the sustainability partner that can get them to net zero.
