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What happened
Shares of
Orbital Energy Group (NASDAQ:OEG) jumped as much as 37.1% in trading Tuesday after the company announced a new partnership. Shares were up 16.9% at 3:25 p.m. EST.
So what
Orbital announced an engineering, procurement, and construction (EPC) agreement with the newly formed Black Sunrise Half Century Fund. The fund is decommissioning coal-fired power plants across the U.S. and converting them to solar energy. Management expects the partnership to begin providing services in the second quarter of 2021.
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Orbital Energy Group, Inc., has announced that its wholly-owned subsidiary, Orbital Solar Services (OSS), a leader in utility-scale solar power generation facilities, has been named the engineering, procurement, and construction (EPC) company ‘of choice’ for the newly-formed Black Sunrise Half Century Fund (BSF).
As announced by Akon last Wednesday at President Biden’s ‘Clean Energy for America’ Inaugural Ball (Clean Energy Ball), OSS is partnering with Akon, Akon Lighting America, and BSF to decommission coal-fired power plants throughout the US and convert them into utility-scale solar energy farms. OSS is responsible for providing full EPC services for these solar facilities, beginning in the 2Q2021.
Orbital Energy Group s Subsidiary, Orbital Solar Services, Partners with Black Sunrise Half Century Fund and Akon Lighting America as exclusive EPC for North American Solar Projects
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HOUSTON, Jan. 25, 2021 /PRNewswire/ Orbital Energy Group, Inc. (NASDAQ: OEG), today announced that its wholly-owned subsidiary, Orbital Solar Services ( OSS ), a leader in utility-scale solar power generation facilities, has been named the engineering, procurement, and construction ( EPC ) company of choice for the newly-formed Black Sunrise Half Century Fund.
As announced by Akon last Wednesday at President Biden s Clean Energy for America Inaugural Ball (Clean Energy Ball), OSS is partnering with Akon, Akon Lighting America (Akon Lighting), and the Black Sunrise Half Century Fund to decommission coal-fired power plants throughout the United States and convert them into utility-scale solar energy farms. OSS is responsible for providing
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