Primoris Expands on Project Wins in U.S. Solar, BESS Markets

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Researched by Industrial Info Resources (Sugar Land, Texas)--Primoris Services Corporation (NASDAQ:PRIM) (Rosharon, Texas) announced this week it recently had been awarded $650 million in contracts for energy project development. The related projects, all of which are expected to begin work by the end of the third quarter, join more than $4.7 billion in U.S.-based projects already in development and featuring Primoris, more than $4 billion of which is attributed to projects under construction, according to Industrial Info's database.

Click on the image at right to see a graph detailing active projects featuring Primoris, by the project's parent company.

"These awards spread across six states and include a diverse number of projects, from state-of-the-art natural gas power-generation plants that provide critical generation capacity in peak usage conditions, to the highways and bridges that connect our communities," said Thomas McCormick, the chief executive officer of Primoris, in a press release about the newly awarded projects.

Among the projects featuring Primoris that are set to wrap up in the coming months is Hecate Energy LLC's (Chicago, Illinois) Roseland Solar and Battery Storage Plant in Riesel, Texas. The $550 million solar facility, which is expected to generate 553 megawatts (MW) from photovoltaic (PV) panels, will be supported by a $60 million battery energy-storage system (BESS) that will supply 50 MW during periods of weak solar generation. The projects are expected to be completed in the coming months. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the solar facility and BESS unit.

Toward the end of the year, Primoris is slated to finish construction on Intersect Power's (Beaverton, Oregon) $550 million Lumina Solar Plant in Snyder, Texas, which is expected to generate 360 MW from 1.16 million PV panels. The project began construction in the fourth quarter of 2022, joining Enel SpA's (Rome, Italy) $350 million Estonian Solar Plant in Cooper, Texas, which is expected to generate 204.5 MW from 425,000 PV panels. While it started construction slightly earlier, the Estonian project is not expected to wrap up until the fourth quarter of 2024; it is to be supported by a $150 million BESS unit. Subscribers can read detailed reports on the Lumina and Estonian solar projects, and the Estonian BESS unit.

Smaller-scale projects set to wrap up this year include D.E. Shaw Group's (New York, New York) $90 million Hunter Solar Park in Bennett, Colorado, which is expected to generate 75 MW from about 250,000 PV panels, and Torch Energy Advisors Incorporated's (Boulder, Colorado) $35.5 million Blue Elk Solar Park near Adrian, Michigan, which is expected to generate 28 MW from about 38,460 PV panels. Both facilities are using First Solar Incorporated's (NASDAQ:FSLR) (Tempe, Arizona) Series 6 panels. Subscribers can read detailed reports on the Hunter and Blue Elk projects.

Several of Primoris' projects have faced supply-chain delays over the past two years, although executives are optimistic these problems are fading. "While there has been improvement in recent months, the market is still experiencing some [solar] module tariff delays in early to mid-2023," McCormick said. But he added: "We do not currently see significant risk to our projects. Furthermore, we expect that the supply chain for modules will continue to improve through the course of the year."

Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.

Subscribers can click here for a full list of reports for active or proposed projects featuring 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) platform 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 more than 200,000 current and future projects worth $17.8 trillion (USD).