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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SOURCE Orbital Energy Group, Inc.
