Orbital Energy Group's Subsidiary, Orbital Solar Services, Awarded 130-Megawatt Project
Orbital Energy Group (NASDAQ: OEG) announced on Aug. 9, 2021, that its subsidiary, Orbital Solar Services (OSS), secured a significant Engineering, Procurement, and Construction (EPC) contract to develop a 132.2MWdc/100MWac solar farm in the Southeastern United States. The project, consisting of 350,000 solar panels over 800 acres, will power 20,000 homes annually and is set for completion in early 2022. OSS's selection was based on its engineering capabilities and track record of completing over 40 solar projects exceeding 600MW.
- OSS awarded a major EPC contract for a 132.2MWdc solar farm, enhancing revenue prospects.
- Project is expected to power 20,000 homes annually, demonstrating market demand.
- OSS has a proven track record with over 40 successful solar projects, affirming its industry position.
- None.
HOUSTON, Aug. 9, 2021 /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, has been awarded an Engineering, Procurement, and Construction ("EPC") contract (the "Contract") to construct a 132.2MWdc/100MWac solar farm in the Southeastern United States.
The Contract calls for OSS to design, engineer, and produce a utility-scale solar array to be delivered in early 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 power for 20,000 homes per year.
OSS was selected based on its in-house engineering capabilities, supply chain relationships and proven track record of having executed more than 40 solar projects 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.
Brandon Martin, OSS's CEO, stated, "This second project with an industry-leading, energy company, evidences OSS's growing reputation for its technical expertise and abilities in designing and building these large, complex, utility-scale solar projects. We look forward to commencing work on this project and continuing our relationship with this large-scale energy producer."
"We are thrilled by this project award, 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 this customer, we are positioning OEG and OSS to increase their presence in the renewable and alternative energy marketplace during the balance of 2021 and beyond."
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
Important Cautions Regarding Forward Looking Statements
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information regarding these and other factors, which could materially affect the Company and its operations, are included in certain forms the Company has filed with the Securities and Exchange Commission.
Investor Relations:
KCSA Strategic Communications
David Hanover
T: 212-896-1220
orbital@kcsa.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/orbital-energy-groups-subsidiary-orbital-solar-services-awarded-130-megawatt-project-301350762.html
SOURCE Orbital Energy Group, Inc.
FAQ
What is the recent contract awarded to Orbital Energy Group's subsidiary?
When is the solar farm project by OSS expected to be completed?
How many homes will the new solar farm power?
How many solar projects has OSS completed prior to this contract?
