Quanta Services Inc., Houston, Texas, and Northeast Utilities (NU), Berlin, Conn., are adding $200 million in services and an extension of two years to their existing multi-year contract under which Quanta is providing transmission infrastructure services related to NU's transmission build-out through 2015.
The anticipated value of the original contract, signed in December 2007, was $750 million and it extended from 2008 to 2013. With this recent expansion, the anticipated value of the contract is now $950 million through 2015. Under the now eight-year contract, Quanta will continue to provide labor, equipment and general project management for NU's transmission projects throughout New England.
Quanta also recently announced the installation of a 10-megawatt (MW) photovoltaic power-generation facility near Boulder City, Nev., that it says is the largest operational thin-film, solar-power project in North America and at peak production will generate enough electricity to power approximately 6,400 homes. Construction began in July 2008, and involved the installation of more than 167,000 solar modules on more than 80 acres of desert property designated as a renewable energy zone.
Quanta's revenues for the twelve months of 2008 were a record high of $3.8 billion, compared to $2.7 billion for 2007. For the twelve months of 2008, the company reported income from continuing operations of $166.7 million, compared to income from continuing operations of $133.1 million for 2007.