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Released January 06, 2023 | sugar land
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Researched by Industrial Info Resources (Sugar Land, Texas)--U.S.-based energy-infrastructure contractor Primoris Services Corporation (NASDAQ:PRIM) (Rosharon, Texas) announced Tuesday it has secured contracts, worth an estimated $290 million, to provide engineering, procurement and construction (EPC) services for utility-scale solar facilities in the U.S. Midwest. Primoris did not mention specific projects, but Industrial Info is tracking 15 active projects worth $3.25 billion involving the company, including $1.8 billion in solar projects.
The company said initial construction is set to start in first-quarter 2023, with completion in the second quarter of 2024. It will handle all civil, electrical and mechanical work.
Primoris' third-quarter revenue of $1.28 billion was up more than 40% year-over-year, "driven by strong growth in the Utilities and Energy/Renewables segments," according to an earnings-related press release; more than $155 million of the amount was from its acquisition of PLH Group Inc. (Irving, Texas), a "multinational, full-service power line construction, pipeline construction and specialty contractor," according to the PLH website.
In the earnings release, Primoris President and Chief Executive Officer Tom McCormick, said: "As we advance through the fourth quarter and into 2023, we remain confident in the outlook for our business as we work to further grow our backlog of projects across our segments and provide quality service to our customers that will lead to reliable and profitable growth."
The company is providing EPC services for the Fence Post solar-plus-storage project outside of Dallas, Texas, which is owned by a North American subsidiary of Enel SpA (Rome, Italy). Fence Post will provide 240 megawatts (MW) of solar generation from an estimated 397,000 photovoltaic (PV) panels with a single-axis tracking system, and a 90-MW battery energy storage system (BESS) will utilize lithium ion-battery technology. Completion is expected in 2023. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can see detailed reports on the solar and BESS projects.
Primoris is at work on another project for Enel: the Roseland solar-plus-storage project in Riesel, Texas, southeast of Waco, which entails constructing a grassroot solar facility with a planned capacity of 553 MW and an accompanying 50-MW BESS unit. Completion is planned for March. Subscribers can see reports on the solar and BESS projects.
Primoris has its hand in another Texas solar plant that is expected to wrap up construction later this year. Intersect Power's (San Francisco, California) 374-MW, $411 million Snyder PV Solar Plant would utilize an estimated 1.16 million thin-film solar modules from First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona). Click here for the project report.
The contractor is providing EPC services for projects in other areas that support the energy transition, such as renewable-fuel production. This includes a proposed $200 million grassroot plant to convert biomass to renewable natural gas (RNG) in McFarland, California, owned and operated by San Joaquin Renewables LLC--an entity of Frontline BioEnergy LLC (Nevada, Iowa). Construction is planned to kick off in October, with completion in mid-2025.
The plant will utilize Frontline's proprietary technology to process between 700 and 1,000 tons per day of biomass feedstock such as agricultural wood waste, pistachio shells, and almond shells, to be converted into about 5 million standard cubic feet per day of RNG. According to the project website, the RNG would be transported by pipelines owned by Southern California Gas (SoCalGas) (Los Angeles, California), to be used as vehicle fuel throughout California. SoCalGas is a unit of Sempra Energy (NYSE:SRE) (San Diego, California). Subscribers to the GMI Alternative Fuel Project Database can click here for the project report.
Subscribers can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of plant profiles.
Click here for a full list of active projects attributed to Primoris.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
The company said initial construction is set to start in first-quarter 2023, with completion in the second quarter of 2024. It will handle all civil, electrical and mechanical work.
Primoris' third-quarter revenue of $1.28 billion was up more than 40% year-over-year, "driven by strong growth in the Utilities and Energy/Renewables segments," according to an earnings-related press release; more than $155 million of the amount was from its acquisition of PLH Group Inc. (Irving, Texas), a "multinational, full-service power line construction, pipeline construction and specialty contractor," according to the PLH website.
In the earnings release, Primoris President and Chief Executive Officer Tom McCormick, said: "As we advance through the fourth quarter and into 2023, we remain confident in the outlook for our business as we work to further grow our backlog of projects across our segments and provide quality service to our customers that will lead to reliable and profitable growth."
The company is providing EPC services for the Fence Post solar-plus-storage project outside of Dallas, Texas, which is owned by a North American subsidiary of Enel SpA (Rome, Italy). Fence Post will provide 240 megawatts (MW) of solar generation from an estimated 397,000 photovoltaic (PV) panels with a single-axis tracking system, and a 90-MW battery energy storage system (BESS) will utilize lithium ion-battery technology. Completion is expected in 2023. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can see detailed reports on the solar and BESS projects.
Primoris is at work on another project for Enel: the Roseland solar-plus-storage project in Riesel, Texas, southeast of Waco, which entails constructing a grassroot solar facility with a planned capacity of 553 MW and an accompanying 50-MW BESS unit. Completion is planned for March. Subscribers can see reports on the solar and BESS projects.
Primoris has its hand in another Texas solar plant that is expected to wrap up construction later this year. Intersect Power's (San Francisco, California) 374-MW, $411 million Snyder PV Solar Plant would utilize an estimated 1.16 million thin-film solar modules from First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona). Click here for the project report.
The contractor is providing EPC services for projects in other areas that support the energy transition, such as renewable-fuel production. This includes a proposed $200 million grassroot plant to convert biomass to renewable natural gas (RNG) in McFarland, California, owned and operated by San Joaquin Renewables LLC--an entity of Frontline BioEnergy LLC (Nevada, Iowa). Construction is planned to kick off in October, with completion in mid-2025.
The plant will utilize Frontline's proprietary technology to process between 700 and 1,000 tons per day of biomass feedstock such as agricultural wood waste, pistachio shells, and almond shells, to be converted into about 5 million standard cubic feet per day of RNG. According to the project website, the RNG would be transported by pipelines owned by Southern California Gas (SoCalGas) (Los Angeles, California), to be used as vehicle fuel throughout California. SoCalGas is a unit of Sempra Energy (NYSE:SRE) (San Diego, California). Subscribers to the GMI Alternative Fuel Project Database can click here for the project report.
Subscribers can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of plant profiles.
Click here for a full list of active projects attributed to Primoris.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
