good and afternoon George everyone. you, Thank
information, to press the after to release supplemental the and financial website slides please market today. closed additional our For posted refer that were
based number year, Total largely grew over second certain business assets delivered quarter $XX was O&M of revenue our another midpoint solid the with million while Energy of operating our XX%, year on with about revenue projects. X% increased growth. guidance $XXX.X faster-than-expected on quarter the above million, execution Asset
utility, driven addition, In and up demand X%, businesses. other our increased was line SaaS, consulting for our by business of
in approximately of in $XXX the $XX higher XX.X%, the of million We adjusted to contract with quarter while declined $XX.X margin our We on ended Gross expanded executing Ed cash, million financing margin as unrestricted SoCal our of guidance of range. record at activity. end the lower quarter, percentage generated a revenue. the a as EBITDA total million
during backlog ended with billion as project project X% quarter. billion, quarter $X.X $X.X George the mentioned, the increase, record a we a new added sequential As total nearly we in of awards
as conservative estimate RNG $X.X an billion, uncontracted that both lifetime approximately operating is well asset contracted metric a visibility backlog revenues. asset energy as revenue of Our revenue includes
does These metrics, include and not visibility with O&M to the give contribution megawatts This construction. development together from billion energy revenue. any Ameresco in our $X.X of metric of over assets backlog, XXX future
mentioned, George well XXX and during above megawatts our experienced As in assets, adds into giving current and we quarter development growth. our additional energy operating construction our the assets remain long-term of record us visibility
is The placing to strict four be as pipeline. will consider assets of asset facilities. be timing from companies remember complex a included can anywhere most to RNG simple more which stricter assets in what than this an for into small a years such Listeners criteria meet these assets more for operation very that year plus to has much under metric,
operating primarily Historically, approximately energy through service with monetized carried and development financing sale or into XX%+ sheet a assets non-recourse asset, and of either balance our to third-party. in placed construction our a as an on are
impact on many With the on interest been business evolve. have the Energy environment, of changing might increasing for rates fielding questions and business interest Asset our expectations our rate we how this
of many a are metric rate asset internal a we aware, levered as key of use risk-adjusted when As return you energy opportunities. evaluating
assets. mid-teens We risk-adjusted continue to target levered IRR on a our
that more that a are we years technical space XX+ RNG, the this high repeat executing able price. by us opportunities. the where new value financing We means and assets, customers in with our not selecting on expertise, integration, solar larger in battery solely and advantage in vertical are achieve flexible approach, to which always Ameresco’s market technically have winning are carefully complex or assets on as Or give yield significant such competing the because we and developing been
to including Ameresco some lower development experiencing opportunities high-quality are a asset return and increase can them net our risk-adjusted third-parties being our still targets. meet assets for meaningfully That we selling in developing contribute meaningful to said, assets, are or and by value income. generate We not may with yield that therefore they targets,
projects where we In through convert capital this upon an assets, contract EPC a earn a case sale. profit the recycle to and
to will by bundling these value O&M contract. extract also converted look with an projects We additional
discussed to Even environment, selectively our average ample mid-teens origination prominent. IRR while approximately This to may with other rates, grow in more our we the current new Ameresco, growth strategy but our target we’ve continue opportunities year, to before, hurdle assets it maintaining per owned there in monetizing believe XX% ways. isn’t on a by become historic efforts are
we developing or assets by us both Project to flexible and our allows to continue believe of that continue with developing growth profitable Asset to business end, our lines as renewables corporate mentioned rapid which selling the mid-teens earlier model benefit target In a hit project. from the IRR and
debt, are by on funded operating back hedged little or have rising of fixed meaningful to impact to Moving interest therefore our business. no this rates these part assets, assets our
benefit to should from and the energy environment, an Thus, flexibility allow solutions. the to rate tremendous continue us to increasing opportunistic even for of our demand in business asset approach renewable Ameresco’s business the model interest
which difficult year-on-year at to of down anticipates the guidance, EBITDA SCE adjusted comparisons with large the the the reaffirm We wind completion are of associated projects. pleased our growth considering midpoint, and XXXX noteworthy X%
provided also a and mix the our expected of results release. more detailed press QX have QX in We
placed come is XX service plants. to four in we XXXX two and online in QX be in expect in of expected in RNG between of to RNG originally and we XXXX stages expect completion We service or of in to assets the end are place continue year, megawatts additional the mechanical late the during XXXX. Several be of to XXX construction, these and at anticipated assets to and including A five commissioned energy by plant that will fully XXXX. development third continue
like for call George I’d Now to over the closing back to turn comments.
