PowerSecure lands $20M utility deal
PowerSecure International Inc. said last week that it has landed a $20 million contract to provide services to an undisclosed utility.
The two-year deal includes transmission and distribution construction and maintenance services.
PowerSecure (Nasdaq: POWR) said in a news release that it expects to realize about one third of the revenue from this contract in 2012, and two-thirds of the revenue in 2013, although these estimates could fluctuate depending on specific work assignments.
PowerSecure, which is based in Wake Forest, also is a provider of LED lighting and electrical grid management products. It employs 550 people – including 150 in the Triangle.
PowerSecure generated over $90 million in revenue during the first three quarters of 2011.
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