Benzinga | Aug 26, 2021 09:56AM EDT

Primoris Secures Two Solar Projects Valued Over $120M

* Primoris Services Corp's (NASDAQ:PRIM) Energy/Renewables Segment has received two new solar awards with a combined value of over $120 million. The scope includes all civil, electrical, and mechanical work.

* The first award is for the engineering, procurement, and construction of a utility-scale solar facility in the Southwest. Initial construction on the project will begin in 3Q21, with completion expected in 3Q22.

* The second award is for the engineering, procurement, and construction of a utility-scale solar facility in the Midwest. Initial construction will begin in 3Q21, with completion expected in 2Q22.

* Primoris executed three contracts last week for a combined total of over $220 million, adding to the Energy/Renewables segment backlog.

* Price Action: PRIM shares are trading lower by 1.31% at $24.90 on the last check Thursday.