Ameresco’s (AMRC) Data Center Boom Masks A Cash Flow Problem

Ameresco announced second-quarter 2026 results on August 3, highlighting a historically large $1.8 billion in new project awards, with $1.2 billion connected to data center power initiatives. The company’s total awarded backlog reached $6.73 billion, representing 32% growth compared to the prior year period. Power Infrastructure business awarded backlog climbed 65% to $4.4 billion, with five behind-the-meter data center projects in awarded backlog and additional prospects in development s