Fluor’s Power segment registers 65% revenue growth in 2013

The Power segment of US turnkey services provider Fluor Corp., which includes the company’s solar business, registered a 65% increase in turnover in 2013 due to progress made on the construction of several solar and gas-fired power projects. Annual revenue for the segment came to $1.4 billion, up from $841 million in the prior year. The segment was also able to record a net profit of $12 million last year, while in 2012 it registered a net loss of $17 million.
In November, Fluor completed construction of the 125 MW Arlington Valley Solar Energy II (AVSE II) PV facility in Maricopa County, Arizona for a subsidiary of US independent power producer LS Power. The project, which consists of more than 600,000 Hyundai Solar and Kyocera Corp. crystalline modules, will sell its entire output to California utility San Diego Gas & Electric under a 25-year power purchase agreement.
As for the group results, Fluor reported revenue of $27.4 billion in 2013, a level comparable with the prior year. According to the company, this year's results reflect »growth in the Oil & Gas and Power segments which was offset by revenue reductions in Industrial & Infrastructure, Government and Global Services.«
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