November 18, 2009 (FinancialWire) The Primoris Services Corp. (NASDAQ: PRIM) (NASDAQ: PRIMU) (NASDAQ: PRIMW) wholly-owned subsidiary, ARB, Inc., has signed a contract with the city of Riverside, California for the construction of a new simple-cycle combustion turbine (SCCT) generator power plant that will expand the existing capacity of the Riverside Energy Resource Center (RERC) to provide peak power demand to the city of Riversides public utilities customers.
The project is expected to generate revenues of approximately $20.0 million to Primoris over an 11-month period beginning December 2009 and ending October 2010.
The RERC, which is located on a 16-acre site adjacent to the citys Water Quality Control Plant within the city of Riverside, runs at a current capacity of 96 megawatts, and currently consists of two 48-MW SCCTs and generators. The state-of-the-art, clean burning natural gas-fired turbines run no more than 1,200 hours a year and only during times of peak demand when additional energy is needed. As part of the project, officially named RERC Units 3 & 4, Primoris will install two GE LM-6000 combustion turbine generators with selective catalytic reduction (SCR) emissions control technology that will increase the RERCs capacity by a nominal 100-MW. Primoriss construction of the new power plant will increase the RERCs ability to provide energy to public utilities customers during peak demand hours.
As announced on November 12, 2009, Primoris expects to add more than $140 million of backlog in the next several weeks, across virtually all of its business lines. Revenues from this project represent a portion of that anticipated new backlog.
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