Primoris Services (PRIM) Receives $40 Million in New Contracts to Construct Waste-to-Energy Facilities
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Primoris Services Corporation (NASDAQ: PRIM) today announced that its wholly-owned subsidiary, Primoris Renewables, will participate in the construction of two new waste-to-energy facilities under a recently signed cooperative agreement with Synergy Renewables.
The construction phase for these projects is scheduled to begin in 2012 with a commercial operation target of Q4 2013. These contracts are expected to generate revenues to Primoris of approximately $40 million.
Synergy Renewables, based in Dallas, Texas, plans to develop and construct multiple waste-to-energy projects worldwide working with Primoris Renewables and Dynamis Energy, LLC, a proprietary technology and development partner based in Boise, Idaho. The first two contracts under this cooperative agreement have been executed with Sunbeam Synergy, LLC to construct two waste-to-energy facilities in Puerto Rico. Sunbeam Synergy, LLC is jointly owned by Synergy Renewables, Sunbeam Caribbean Corporation of Puerto Rico, and Dynamis Energy.
Each of the two facilities will utilize a proprietary process to gasify approximately 180,000 tons of municipal solid waste annually in order to generate 10MWs of clean renewable energy per location.
The construction phase for these projects is scheduled to begin in 2012 with a commercial operation target of Q4 2013. These contracts are expected to generate revenues to Primoris of approximately $40 million.
Synergy Renewables, based in Dallas, Texas, plans to develop and construct multiple waste-to-energy projects worldwide working with Primoris Renewables and Dynamis Energy, LLC, a proprietary technology and development partner based in Boise, Idaho. The first two contracts under this cooperative agreement have been executed with Sunbeam Synergy, LLC to construct two waste-to-energy facilities in Puerto Rico. Sunbeam Synergy, LLC is jointly owned by Synergy Renewables, Sunbeam Caribbean Corporation of Puerto Rico, and Dynamis Energy.
Each of the two facilities will utilize a proprietary process to gasify approximately 180,000 tons of municipal solid waste annually in order to generate 10MWs of clean renewable energy per location.
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