Primoris Services, a specialty construction and infrastructure company, said its BW Primoris unit will make a $22 million investment to build, own, and operate solar power systems for a California School District. BW Primoris will acquire the projects from the developers, Spear Point Energy and PFMG Solar. The projects are expected to generate a 25-year recurring revenue stream from the school district’s signed power purchase agreement and are also expected to generate $5 million in tax credits.
The company’s renewable energy segment was also awarded three contracts valued at $25 million to provide engineering, procurement, and/or construction services for solar power systems in Southern California. The work will be spread across 23 sites and is expected to be complete in Q1 2018.