Primoris shines with $40M solar deal

ConDig (13-Mar-18).  Construction and infrastructure company Primoris Services Corp has landed a $40 million deal for a new solar plant in West Texas.

Under the deal with an unnamed client, the Dallas, Texas-based company will construct a 178 megawatt (MWac) solar electric generating facility, which will be the largest solar facility in the state.

The work includes all electrical, mechanical, and civil work, as well limited procurement and site control. The solar generating facility will occupy over 1,500 acres and utilize nearly 685,000 solar modules.

Work is set to start in the first quarter of this year and completion is slated for the fourth quarter of this year.

Primoris posted net income of $22.5 million for the quarter ended December 31 compared with $14.5 million in the same in 2016. Revenue fell to $579 million from $601.9 million in the year-ago period.

The drop in revenue was primarily due to a decrease in the group’s pipeline and underground division as it reached substantial completion on two Florida pipeline projects in the second quarter of last year.