Ameresco updates SCE BESS project timeline; cites COVID lockdowns in China causing battery supply delays

Ameresco, Inc.

COVID-19 lockdowns in China and new transportation safety policies may delay battery deliveries for three BESS projects with SCE.
Ameresco invoked force majeure under the EPCM Agreement; completion date may extend without liquidated damages.
Significant milestones achieved: transformers, inverters, switchgear secured; construction ongoing at all sites.
No material impact on 2022 results expected; reaffirms annual earnings guidance issued Feb 28, 2022.
Further updates expected with Q1 results in early May 2022.

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