PowerSecure Adds $25 Million In New Business
PowerSecure International, In has announced it has been awarded approximately $14 million of new distributed generation (DG) business, approximately $9 million of new utility infrastructure (UI) business and approximately $2 million of new energy efficiency (EE) business.
The $14 million in new DG business awards include approximately $9 million of projects for a variety of retail, healthcare, industrial and utility customers, and approximately $5 million of new utility-grade solar projects. This total does not include the additional backlog acquired in the company's recent acquisition of the data center energy services business from Power Design, Inc.
The $9 million in new UI business awards include a large transmission project at a federal facility and a variety of additional transmission work for existing utility customers.
The $2 million in new EE business awards include both federal and retail ESCO awards. The federal award, which comprises the majority of the new EE business, is to provide energy efficiency improvements for a large international airport in the Northeast, on behalf of one of our ESCO customers. The new retail ESCO work is to provide electrical contracting and energy efficiency services for a new Fortune 100 retail customer.
"As we look towards 2015, and 2016, we are very pleased to have added approximately $215 million in new business to our backlog over the past three months across all three of our business segments," said Sidney Hinton, chief executive officer of PowerSecure.
"We are encouraged by the overall business environment we see and excited about the strong pipeline of opportunities we are pursuing," Hinton added.
The $25 million in new business is expected to be recognized fairly evenly from the fourth quarter of 2014 through 2015.
