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Powersecure Intl (POWR) Gets $12 Million Smart Grid Power Systems/Infrastructure Order
PowerSecure International (POWR) has announced $12 million in new orders which include orders for smart grid power systems and new utility infrastructure projects. The new orders represent roughly 30 – 40% of what the company brings in each quarter in revenues, so not a huge order but significant. Revenue will be recognized once the projects are completed which the company expects to happen beginning in the 4th quarter of this year and continue through the first half of next year.
Their smart grid power systems will help deliver more efficient power during peak demand and provide emergency backup power while being monitored 24×7 from PowerSecure’s monitoring center. The utility infrastructure portion of the contracts include upgrading and improving the electrical grid and account for $8 million of the $12 million total.
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