Wells Fargo and Ameresco to Install Solar Generation Assets at Nearly 100 Wells Fargo Properties in Seven States

Ameresco, Inc. (NYSE: AMRC), and Wells Fargo (NYSE: WFC) today announced a collaboration to develop and install approximately 30 megawatts (MW) of new, onsite solar generation assets at corporate and retail locations in seven states. The nearly 100 solar photovoltaic (PV) arrays are a combination of rooftop and ground mount systems at Wells Fargo retail and administrative locations in Arizona, California, Connecticut, Iowa, New Jersey, North Carolina and Texas. Construction on the systems will begin in April and go into 2022.

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Rendering representative of carport, rooftop and parking garage solar array system designed and to be installed by Ameresco at Wells Fargo’s Chandler AZ campus. (Photo: Business Wire)

Wells Fargo has been meeting 100% of its global electricity requirements with renewable energy since 2017, initially through the purchase of Renewable Energy Certificates (RECs). Today’s announcement is part of the firm’s efforts to transition to long term agreements that support the development of net-new sources of renewable energy in locations where its energy needs are the greatest. In addition to helping Wells Fargo meet its environmental goals, the strategy helps deliver community benefits like job creation, tax revenue, and grid resiliency in locations where its customers and employees live and work.

Wells Fargo commissioned this complex and innovative project, and Ameresco emerged the preferred collaborator due to its demonstrated ability to deliver a broad scope of services across multiple project types, locations and regulatory frameworks.

The approximately 30MW of onsite solar to be constructed under the agreement announced today range in size from a six-kilowatt rooftop array on a branch in Connecticut, to a 6.5 MW carport and rooftop system at Wells Fargo’s Chandler AZ campus. Other larger projects include a 5.5 MW combination rooftop/ground-mount system to serve an administrative property in San Antonio, TX, and a nearly 2MW ground mount system adjacent to a Wells Fargo campus in Des Moines, IA, that will include more than 6 acres of pollinator gardens, adding to the overall sustainability impact of the project locally.