What happened Shares of renewable energy stock Orbital Energy Group (NASDAQ: OEG) jumped as much as 21.5% on Wednesday after announcing a new solar project. At 11:15 a.m. EDT today, shares were up 15.4% and holding steady for the day. So what Orbital Energy Group's subsidiary Orbital Solar Services was selected to be the engineering, procurement, and construction (EPC) provider for a 137 megawatt project in Arkansas. The end customer wasn't named, only that it is a North American Fortune 100 energy company. Image source: Getty Images. The total project is expected to have a value of over $64 million and is due to be delivered in early 2022. This is a significant project when put into context of the $9.5 million in revenue generated in the first quarter of 2021 and the $62.1 million in backlog at the end of that quarter. Now what This is certainly a big contract win for Orbital Energy Group given the company's current revenue and backlog. What we don't yet have a good feel for is how profitable the company can be from projects like this. Last quarter, it lost $18 million, and it'll need to grow revenue sharply to get out of that hole. This is a step in the right direction, but until Orbital becomes profitable, this is a highly competitive portion of the solar market that I'll stay out of. 10 stocks we like better than Orbital Energy GroupWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Orbital Energy Group wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source