Energy News: PowerSecure adds $25MM in new business

Source:PowerSecure International, Inc.

PowerSecure International, Inc. (NYSE: POWR) today announced it has been awarded approximately $10 million of new distributed generation (DG) business and approximately $15 million of new utility infrastructure (UI) business.

The new business awards include:

  • $1 million of new data center awards, including an award from a new data center customer won by the company's recently acquired mission critical team.
  • $1 million of new turnkey DG projects for hospital, industrial, military and utility customers.
  • $8 million of new solar projects for a utility customer and a national solar developer.
  • $10 million for a grid hardening project for a major investor owned utility. This first phase of work is expected to be completed over the next 18 months and has the potential to be expanded and extended in future phases.
  • $5 million of new transmission projects for existing utility customers.

"In the past two months we have successfully converted $65 million of opportunities from our project pipeline into new business awards across all three of our business segments," said Sidney Hinton, chief executive officer of PowerSecure.

"In addition to our project pipeline, which remains strong, we are pleased to see robust UI and solar activity, and to be expanding our data center customer base thanks to the excellent work of our mission critical team," Hinton added.

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