Benzinga | Aug 26, 2021 08:34AM EDT

Primoris Services Wins 2 Solar Projects, Valued $120M+

Primoris Services Corporation (NASDAQ Global Select: PRIM) ("Primoris" or "Company") today announced two new solar awards with a combined value of over $120 million. The contracts were secured by the Company's Energy/Renewables Segment.

"These contracts are the realization of two projects we mentioned during our second quarter earnings call that were progressing under limited notices to proceed and are excellent examples as to why we have confidence in the balance of this year as well as into 2022," said Tom McCormick, President and Chief Executive Officer of Primoris. "We have now executed three contracts in the last week for a combined total of over $220 million that add to our backlog in the Energy/Renewables segment and we have more to come."

* The first award is for the engineering, procurement, and construction of a utility-scale solar facility in the Southwest. The primary scope includes all civil, electrical and mechanical work. Initial construction on the project will begin in the third quarter of 2021 with completion expected in the third quarter of 2022.

* The second award is for the engineering, procurement, and construction of a utility-scale solar facility in the Midwest. The scope includes all civil, electrical and mechanical work. Initial construction on this project will begin in the third quarter of 2021 with completion expected in the second quarter of 2022.