Tetra Tech Wins $29.7 Million USAID Renewable Energy Contract
August 18 2020 - 6:29PM
Business Wire
Tetra Tech, Inc. (NASDAQ: TTEK) announced today that the U.S.
Agency for International Development (USAID) awarded the Company a
five-year, $29.7 million single-award contract for the continuation
of its Scaling Up Renewable Energy project (SURE II).
Recent advancements in renewable energy technologies and
business models have made solar and wind power viable options for
emerging economies. Battery storage prices also have declined,
providing opportunities to meet demand through innovative,
market-driven options.
Tetra Tech worked with USAID and 20 partner countries under the
previous SURE I contract to integrate new technologies, promote
competitive procurement of renewable energy generation, support
development of progressive energy policies, and advance gender
equality in the energy sector.
Under SURE II, Tetra Tech will provide technical services to
promote reliable, cost-effective, and environmentally responsible
solutions to increase adoption of renewable and advanced energy
technologies. Activities may include the creation of programs to
integrate renewable energy into existing power grids, and
enhancement of national strategic energy planning to capitalize on
renewable technologies that increase energy security and reduce
costs. Tetra Tech also will support the development of an
innovation fund which will attract new and nontraditional partners
to scale up the deployment of renewable energy technology.
“Tetra Tech is pleased to support USAID in developing
sustainable renewable energy solutions for emerging economies,”
said Dan Batrack, Tetra Tech Chairman and CEO. “As the top-ranked
firm by Engineering News-Record in solar and wind power, Tetra Tech
will use its Leading with Science® approach to help deploy the best
technologies, policies and practices to transform the power sector
in developing countries.”
About Tetra Tech
Tetra Tech is a leading provider of high-end consulting and
engineering services for projects worldwide. With 20,000 associates
working together, Tetra Tech provides clear solutions to complex
problems in water, environment, infrastructure, resource
management, energy, and international development. We are Leading
with Science® to provide sustainable and resilient solutions for
our clients. 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 Form 10-Q filings with the Securities and Exchange
Commission.
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Jim Wu, Investor Relations Charlie MacPherson, Media &
Public Relations (626) 470-2844
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