Tetra Tech Wins $64 Million USAID Power Africa Contract
PASADENA, Calif.--(BUSINESS WIRE)--Tetra Tech, Inc. (NASDAQ: TTEK) announced today it has been awarded a $64 million contract to provide technical assistance for the Power Africa Transactions and Reform Program funded by the U.S. Agency for International Development. Tetra Tech was awarded this five-year contract to support President Obama’s Power Africa Initiative. This contract has a base period of three years with two option years.
Power Africa represents a whole of U.S. Government approach to increase the amount of electricity available in Sub-Saharan Africa through an innovative private-sector led model for development. Under Power Africa, 12 agencies of the U.S. Government are working together with multilateral organizations, African governments and the American private sector to add cleaner, more efficient electricity generation capacity in Sub-Saharan Africa.
Under Power Africa, Tetra Tech will support the U.S. Government to accelerate the generation and transmission of sustainable electric power in regions throughout Africa, including the Power Africa focus countries of Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania. Tetra Tech will identify and design innovative approaches to develop small-scale clean energy projects to increase access in rural areas, develop a robust pipeline of power generation projects using a transaction-based approach, support the strengthening of regulatory and institutional policies, and provide direct programmatic support to the Power Africa Coordinator’s Office.
About Tetra Tech (www.tetratech.com)
Tetra Tech is a leading provider of consulting, engineering, program management, construction management, and technical services. The Company supports government and commercial clients by providing innovative solutions to complex problems focused on water, environment, energy, infrastructure, and natural resources. With 14,000 employees worldwide, Tetra Tech’s capabilities span the entire project life cycle.
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.