Ameresco Inc. (AMRC) said Monday the U.S. Army selected the company to negotiate long-term leases for commercial power projects at two military installations.
The projects would support energy resilience at Aberdeen Proving Ground in Maryland and Picatinny Arsenal in New Jersey. They are part of the Army's Strategic Capital Initiatives program.
Following the announcement, Ameresco shares gained nearly 4%. Shares of Terrestrial Energy, which is working with Ameresco on the Aberdeen project, jumped about 10%.
Ameresco Plans Nuclear, Natural Gas Projects
Ameresco was selected under the Army's Enhanced Use Lease authority.
At Picatinny Arsenal, Ameresco plans a phased project using modular microreactor technology in the first phase and small modular reactors in the second.
At Aberdeen Proving Ground, the company is evaluating firm natural gas generation and advanced nuclear technology. Ameresco is working with Terrestrial Energy on an integrated molten salt reactor for the project's second phase.
The proposed facilities would add power capacity to state grids while also supporting Army operations during qualifying utility outages.
Ameresco said development work is beginning while it negotiates the leases with the Army. However, construction cannot start until the projects secure required environmental and regulatory approvals.
Those reviews include requirements under the National Environmental Policy Act, the Clean Air Act and the Clean Water Act, as well as other federal, state and local permitting processes.
Private Sector To Finance Development
Under the lease structure, the U.S. government will retain ownership of the land. Private-sector partners will finance, design, build, operate, secure and eventually decommission the facilities.
The company said the projects could help improve mission readiness and energy security while expanding the use of both traditional firm power and advanced nuclear technologies.
Ameresco cautioned that the development-stage projects do not indicate when or how much revenue the company may recognize. The projects were also not included in its reported backlog as of June 30, 2026.
Price Action
Terrestrial Energy shares were up 9.98% at $4.57 at the time of publication Monday. Ameresco shares gained 3.75% to $24.64, according to market data.
