Primoris Services Corporation Announces Power Awards Valued at Approximately $12 Million
May 18 2017 - 7:30AM
Primoris Services Corporation (NASDAQ:PRIM)
(“Primoris” or “Company”) today announced two new battery
storage awards with a combined value of approximately $12
million. The contracts were secured by Primoris Renewable
Energy, part of the Power, Industrial, & Engineering
segment.
- The projects were awarded by an international investor-owned
energy supplier to engineer, procure and construct two battery
energy storage systems in Texas.
- Each system will be a 9.9MW short duration, energy storage
project using lithium ion battery technology. These utility
scale battery storage systems will be an integral part of two
existing wind farms in west Texas and are designed to provide
ancillary services to the Electric Reliability Council of Texas
(ERCOT) market. They systems will be capable of responding to
shifts in power demand more quickly, increasing system reliability
and efficiency.
- Work on these projects is scheduled to begin in the second
quarter of 2017, and completion is expected in the fourth quarter
of 2017.
ABOUT PRIMORIS
Founded in 1960, Primoris, through various
subsidiaries, has grown to become one of the largest publicly
traded specialty construction and infrastructure companies in the
United States. Serving diverse end-markets, Primoris provides a
wide range of construction, fabrication, maintenance, replacement,
water and wastewater, and engineering services to major public
utilities, petrochemical companies, energy companies,
municipalities, state departments of transportation, and other
customers. Growing both organically and through acquisitions, the
Company’s national footprint now extends nearly nationwide and into
Canada. For additional information, please visit www.prim.com.
FORWARD LOOKING STATEMENTSThis
press release contains certain forward-looking statements,
including with regard to the Company’s future performance. Words
such as "estimated," "believes," "expects," "projects," “may,” and
"future" or similar expressions are intended to identify
forward-looking statements. Forward-looking statements
inherently involve known and unknown risks, uncertainties, and
other factors, including without limitation, those described in
this press release and those detailed in the "Risk Factors" section
and other portions of our Annual Report on Form 10-K for the period
ended December 31, 2016, and other filings with the Securities and
Exchange Commission. Given these uncertainties, you should
not place undue reliance on forward-looking statements.
Primoris does not undertake any obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
under applicable securities laws.
Company Contact
Kate Tholking
Director of Investor Relations
(214) 740-5615
ktholking@prim.com
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