Fluor Receives AVSE II Contract - Analyst Blog
February 02 2012 - 1:00PM
Zacks
Fluor Corporation (FLR) has received two
contracts from Arlington Valley Solar Energy II, LLC (AVSE II), a
member of LS Power Group, for its new nominal 125-megawatt solar
photovoltaic (PV) facility, located in Maricopa County,
Arizona.
One is a lump-sum engineering, procurement and construction
(EPC) contract while the other is for operations and maintenance
services (O&M) of the new PV facility. The value of the
contract is undisclosed and has been included in the fourth-quarter
2011 backlog of Fluor.
With this major contract, Fluor became the leader in the solar
power engineering and construction industry. This is one of the
largest solar PV projects for LS Power in the world.
All the major permits for the AVSEII project have been received.
The project is located on approximately 1,160 acres and will meet
the regional need for renewable energy while reducing dependence on
fossil fuels. Fluor has also designed and constructed the nearby
Arlington Valley Combined Cycle Facility in 2002.
Further, Fluor’s Southern California operations center has
started the engineering and procurement work. The commercial
operation on facility is expected to start by the end of 2013.
Green energy to be delivered from the project will be beneficial
for the State of California.
Acting through its subsidiaries, Fluor Corporation is one of the
largest professional services firms, providing engineering,
procurement, construction and maintenance as well as project
management services on a global basis. It serves a diverse set of
industries worldwide including oil and gas, chemical and
petrochemicals, transportation, mining and metals, power, life
sciences and manufacturing. It is also a primary service provider
to the U.S. federal government. The company’s prime
competitor is Jacob’s Engineering Group (JEC).
We continue to maintain a Neutral rating on Fluor Corporation,
with a Zacks #4 Rank (Sell recommendation) over the next
one-to-three months.
FLUOR CORP-NEW (FLR): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Jacobs Engineering (NYSE:JEC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Jacobs Engineering (NYSE:JEC)
Historical Stock Chart
From Jul 2023 to Jul 2024