Orbital Energy Group's Subsidiary, Orbital Solar Services, and its Joint Venture Partner, Jingoli Power LLC, Begin Construction on 130-Megawatt Solar Project EPC Contract from Lightsource bp
Orbital Energy Group (NASDAQ: OEG) announced that its subsidiary, Orbital Solar Services (OSS), in partnership with Jingoli Power LLC, has initiated construction on a 130MWdc/100MWac solar farm in Alabama for Lightsource bp. The contract includes full Engineering, Procurement, and Construction (EPC) services and aims for project completion in late 2022. The solar array will utilize 350,000 panels to provide energy for 20,000 homes annually. OSS has a robust history with over 40 solar projects, totaling more than 600 megawatts, emphasizing its leadership in the renewable energy sector.
- Initiation of construction on a significant 130MWdc/100MWac solar farm project.
- Contract with reputable Lightsource bp for advanced renewable energy solutions.
- OSS's proven track record of over 40 solar projects and 600 megawatts reinforces credibility.
- The project aims to provide power for 20,000 homes, showcasing its potential impact.
- None.
HOUSTON, Feb. 24, 2022 /PRNewswire/ -- Orbital Energy Group, Inc. (NASDAQ: OEG) ("Orbital"), today announced that its wholly-owned subsidiary, Orbital Solar Services ("OSS"), a leader in utility-scale solar power generation facilities, and its Joint Venture Partner, Jingoli Power LLC (jointly: OSS JPOW LLC) have signed a formal Engineering, Procurement, and Construction ("EPC") contract ("the Contract") and begun construction on a 130MWdc/100MWac solar farm in Alabama for Lightsource bp, a prominent global utility scale solar and storage developer and operator.
The Contract calls for OSS JPOW LLC to design, engineer, and build a utility-scale solar array to be delivered in late 2022. Under the Contract terms, OSS will provide full utility-scale EPC services, including substation construction. The project will consist of 350,000 solar panels installed across 800 acres of land and will provide enough power for 20,000 homes per year. This is the second such project awarded to OSS by this highly respected energy company.
Built on the foundation of its in-house engineering capabilities and supply chain relationships, OSS has a proven track record of having executed over 40 solar projects representing over 600 megawatts. OSS is a well-recognized industry leader with over 50 years combined experience in the delivery and management of both commercial and renewable energy construction projects.
Jingoli Power, LLC is a nationally leading service provider for complex power generation and power delivery construction projects, with a fast-growing renewable energy portfolio. The Lawrenceville, N.J.-based company, led by a team of highly skilled, experienced industry veterans, offers a full range of EPC, Design-Build, and Design-Build-Own-Operate services, from development and engineering to construction and project management.
Michael Janda, OSS's President, stated, "OSS/JPOW is honored to have formally begun construction on the Black Bear Project and to start this very special relationship with the Lightsource bp team. We believe this project will solidify our mutual goals moving forward and will allow this relationship to grow over time. The satisfaction of our customer remains one of OSS's top priorities and we are honored to showcase our talent and professionalism on the Black Bear Project. We look forward to seeing this collaboration evolve with Black Bear being the first of many projects with Lightsource bp."
"We are excited by the start of this project, showcasing Orbital's ability to provide services that contribute to reducing our nation's carbon footprint," said Jim O'Neil, Orbital Energy Group's Vice-Chairman & CEO. "This project and others like it serve to expand OSS's industry relationships based on a solid record of achievement, and the expertise to provide end-to-end solutions. By expanding relationships, as we have with Lightsource bp, we are positioning OEG/OSS to increase their presence in the renewable and alternative energy marketplace throughout 2022 and beyond. In addition, our partnership with industry-leading Jingoli Power expands both our bonding capacity and the service portfolio we can provide to our customers."
Karl Miller, Jingoli Power's CEO, stated, "This project is early proof that Jingoli Power's joint venture with Orbital is well positioned to meet the growing demand for reliable, competitively priced solar generation. I'm especially thrilled that one of our initial joint projects is for Lightsource BP, given our shared track record of safety and excellence in execution."
About Orbital Energy Group
Orbital Energy Group, Inc. [Nasdaq: OEG] is creating a diversified energy services platform through the acquisition and development of innovative companies. Orbital Energy's group of businesses includes Orbital Power Services, Orbital Solar Services, Orbital Telecom Services and Orbital Gas Systems.
Orbital Power Services provides engineering, construction, maintenance, and emergency response solutions to the power, utilities, and midstream markets.
Orbital Solar Services provides engineering, procurement, and construction ("EPC") expertise in the renewable energy industry and established relationships with solar developers and panel manufacturers in the utility scale solar market.
Orbital Telecom Services, operating as Gibson Technical Services, has nationwide locations equipped to effectively support multi-vendor OEM technology environments and outside plant construction operations on an as-needed basis with specialized services in broadband, wireless, outside plant and building technologies, including healthcare.
Orbital Gas Systems is a 30-year leader in innovative gas solutions, serving the energy, power, and processing markets through the design, installation, and commissioning of industrial gas sampling, measurement, and delivery systems.
As a publicly traded company, Orbital Energy is dedicated to maximizing shareholder value. But most important, our commitment to conduct business with a high level of integrity, respect, and philanthropic dedication allows the organization to make a difference in the lives of their customers, employees, investors, and global community.
For more information please visit: www.orbitalenergygroup.com
About Jingoli Power LLC:
Jingoli Power provides professional services for complex gas and electric utility construction projects. Our wide range of service offerings, paired with our team's expertise allows our customers and partners to focus on design and to keep crews safe and productive.
We use experience-driven processes, tools, and controls to execute programs with a custom-built team of highly skilled, experienced industry veterans. From planning, survey, evaluation and cost estimation to contractor management and tender-process management, we can handle the toughest jobs.
Jingoli Power prides itself on listening to our customers, understanding their individual needs and tailoring services with flexible project models that deliver on what our customers want to achieve. Our team employs agile execution models and manages projects on EPC, design-build, or design-build-own-operate contracts to meet our customers' objectives for safety, budget, and final delivery.
For more information please visit: www.jingolipower.com
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the expected use of proceeds. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to be materially different from any results, performance or achievements expressed or implied by the forward-looking statements. Such factors include the risk factors set forth in the Company's filings with the SEC, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2020, its periodic reports on Form 10-Q, and its Current Reports on Form 8-K filed in 2020 and 2021, as well as the risks identified in the shelf registration statement and the prospectus supplement relating to the offering. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. Orbital undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Investor Relations:
Three Part Advisors
John Beisler or Steven Hooser
817-310-8776
investors@orbitalenergygroup.com
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