USAID Awards Tetra Tech Additional $84 Million to Expand Power Africa Program
May 19 2016 - 7:00AM
Business Wire
Tetra Tech, Inc. (NASDAQ: TTEK) announced today that the United
States Agency for International Development (USAID) has awarded the
Company an additional $84 million to its current $64 million
contract under the U.S. Government-led Power Africa
partnership.
Two out of three people in sub-Saharan Africa do not have access
to power. Power Africa, launched by President Obama in 2013, aims
to connect the African population to the electricity grid and
provide access to those who live beyond the grid. Electricity
access in sub-Saharan Africa will be expanded to 60 million homes
and businesses by adding more than 30,000 megawatts (MW) of
cleaner, more efficient electricity generation capacity by the year
2030.
Under its Power Africa contract, Tetra Tech is advancing a
robust pipeline of power generation projects to financial close,
designing innovative approaches to develop small-scale clean energy
projects to increase access in rural areas, supporting the
strengthening of regulatory and institutional policies, and
providing direct programmatic support to the Power Africa
Coordinator’s Office.
“The Tetra Tech team is tracking a pipeline of more than 140
active energy transactions at various stages of development,
representing more than 20,000 MW of potential generation capacity
in sub-Saharan Africa,” said Dan Batrack, Tetra Tech Chairman and
CEO. “We look forward to continuing to support USAID to reach Power
Africa’s goal of doubling access to electricity in sub-Saharan
Africa.”
About Tetra Tech
Tetra Tech is a leading provider of consulting and engineering
services. For 50 years, the Company has supported commercial and
government clients focused on water, environment, infrastructure,
resource management, energy, and international development. With
16,000 staff worldwide, Tetra Tech provides clear solutions to
complex problems. For more information about Tetra Tech, please
visit tetratech.com, follow us on Twitter (@TetraTech), or like us
on Facebook.
Any statements made in this release that are not based on
historical fact are forward-looking statements. Any
forward-looking statements made in this release represent
management’s best judgment as to what may occur in the
future. However, Tetra Tech’s actual outcome and results are
not guaranteed and are subject to certain risks, uncertainties and
assumptions ("Future Factors"), and may differ materially from what
is expressed. For a description of Future Factors that could
cause actual results to differ materially from such forward-looking
statements, see the discussion under the section "Risk Factors"
included in the Company’s Form 10-K and 10-Q filings with the
Securities and Exchange Commission.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160519005295/en/
Tetra Tech, Inc.Jim Wu, Investor RelationsCharlie MacPherson,
Media & Public Relations(626) 470-2844
Tetra Tech (NASDAQ:TTEK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Tetra Tech (NASDAQ:TTEK)
Historical Stock Chart
From Apr 2023 to Apr 2024